Gates, Kirby & Company, P.C.

28 Oct

BOOST MORALE AND SAVE TAXES WITH ACHIEVEMENT AWARDS

Some small businesses have been struggling with morale for a variety of reasons, one of which may be economic uncertainty. They might be able to boost their employees’ spirits with a relatively low-cost fringe benefit: an achievement awards program. This article discusses the tax implications...

09:00 / Growth / Legal / Taxes

19 Apr

4 WAYS CORPORATE BUSINESS OWNERS CAN HELP ENSURE COMPENSATION IS “REASONABLE”

Owners of incorporated businesses know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are...

09:00 / Legal / Taxes

27 Apr

EXECUTIVE COMPENSATION REQUIRES INFORMED DECISION-MAKING

Business owners want to compensate themselves and their top executives fairly and competitively for their work, results and commitment. But how can they do so without attracting undue IRS scrutiny and claims of inappropriate compensation? This article explains some important factors to consider for both...

09:00 / Budgeting / Buildings / Growth / Legal / Taxes

14 Oct

STEP CAREFULLY WITH LOANS BETWIXT A BUSINESS AND ITS OWNER

It’s common for owners of closely held businesses to transfer money into and out of the company. But it’s critical to make such transfers properly or risk unwanted IRS attention. This article explains how and why a transfer should be defined as a loan —...

08:30 / Budgeting / Legal / Taxes

22 Oct

AVOID PENALTIES BY ABIDING BY THE NQDC TAX RULES

Nonqualified deferred compensation plans pay executives at some time in the future for services currently performed. Of course, in the hectic course of the average exec’s schedule, keeping up with the details isn’t always easy. This article explains how these plans differ from qualified plans...

09:00 / Budgeting / Legal / Taxes

BOOST MORALE AND SAVE TAXES WITH ACHIEVEMENT AWARDS

4 WAYS CORPORATE BUSINESS OWNERS CAN HELP ENSURE COMPENSATION IS “REASONABLE”

EXECUTIVE COMPENSATION REQUIRES INFORMED DECISION-MAKING

STEP CAREFULLY WITH LOANS BETWIXT A BUSINESS AND ITS OWNER

AVOID PENALTIES BY ABIDING BY THE NQDC TAX RULES

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