Keeping good business records will not only help you stay in business but may also help you increase profits. Your business records let you analyze where your business is and where it’s going. They point out potential trouble spots and serve as a guide to where you want your business to be. Your ideal office […]
Read MoreWhat is an entity? To start a business, you must first decide what form your business will take–in other words, you must choose an entity. You, the business owner, create the entity. You give the entity its existence and its name. It may live independently of you. It may sue or be sued. It may […]
Read MoreIn general Perhaps you are self-employed or own a small business. Or, you may be directly involved in running a corporation or a tax-exempt organization. In any of these cases, you generally have the option of establishing a retirement plan in which you and/or your employees may participate. One of the main advantages of a […]
Read MoreIf you have employees or if you are an employee in Massachusetts below are the highlights of this new law: 1. This law goes into effect July 1st 2015 2. Employers must post the law so employees can see it 3. Employers must track and share sick time for each employee. We suggest you utilize […]
Read MorePRESS RELEASE Boston Area Franchise Wins International Award Praxis Growth Advisors, Inc. Named Rookie of the Year by Sandler Training Norwell, MA – Sandler Training, the world’s leading sales and management training franchise, is pleased to announce that Eric Warner, owner of Praxis Growth Advisors, Inc. (PGA) of Norwell, MA, was named Sandler’s Global Rookie […]
Read MoreNEW YORK (CNNMoney) —Well, finally. Congress on Tuesday night extended dozens of expired “temporary” tax breaks for 2014. It took the Senate, by a 76 to 16 vote, until the week after Congress was supposed to adjourn to pass the bill, which the House had already approved. The bill will now be sent to President […]
Read MoreThis White Paper is a 2012 update to the 2010 White Paper of the same title first published by Pepper Hamilton LLP on April 26, 2010. “Misclassification of employees as independent contractors” is now a common phrase uttered by state and federal legislators and regulators. State task forces have been formed to crack down on […]
Read MoreGreetings, As a reminder, Assembly Bill 2754 was into law September 19, 2014. AB 2754 requires that beginning January 1, 2015, for taxable years beginning on or after January 1, 2014, any business entity that files an original or amended tax return prepared using tax preparation software is required to electronically file (e-file) their return […]
Read MoreThe average tax refund in 2014 was $2,696, up 1.5 percent from the average refund of $2,656 in 2013, according to a new report on how well the Internal Revenue Service operated last tax season. The report, from the Treasury Inspector General for Tax Administration, found that the IRS managed to function well this past […]
Read MoreChart of Select Limits 401k Plan Limits for Year 2015 2014 2013 2012 2011 2010 2009 401k Elective Deferrals $18,000 $17,500 $17,500 $17,000 $16,500 $16,500 $16,500 Annual Defined Contribution Limit $53,000 $52,000 $51,000 $50,000 $49,000 $49,000 $49,000 Annual Compensation Limit $265,000 $260,000 $255,000 $250,000 $245,000 $245,000 $245,000 Catch-Up Contribution Limit $6,000 $5,500 $5,500 $5,500 $5,500 […]
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