Before Your Business Starts Contributing to Employees’ Trump Accounts, Read This
Thinking about contributing to Trump Accounts for your employees? IRC Section 128 may allow up to $2,500 per employee to receive favorable tax treatment, but employers need to understand the written-plan, eligibility, contribution and nondiscrimination rules first.
Trump Accounts: Who Qualified, The $1000 Contribution, and How They Work
You may be hearing quite a bit about Trump Accounts. Maybe you’ve heard that the government is putting $1,000 into an account for children. Or have you heard that parents and grandparents can contribute? Or maybe you’ve heard that employers can contribute for their employees. There is a lot of information floating around, and like […]
Should Contractors Elect S Corporation Status Right Away?
Why waiting until your business is profitable may actually save you more money. One of the most common questions I hear from new contractors is: “Should I elect S Corporation status?” The answer surprises many people. Not necessarily. Social media, YouTube, and even well-meaning friends often tell new business owners that becoming an S Corporation […]