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"Employer Guide" is updated weekly to provide useful tax information. By returning to this site each week you can obtain helpful tax-cutting suggestions, reminders and current tax laws.
Of course, remember, these are just "tips" - if you need additional information or assistance please give us a call to schedule an appointment or stop by our office - Walkins are welcome!!
Partnership Tips
- You need to create a Partnership Agreement
- In the agreement, state each partner's percentage
- If a partner becomes deceased, what happens to the business?
- You need to have Business Insurance so that if a partner does become deceased, the business can continue.
- Each partner is taxed based on their percentage
Corporate Tips
- You are taxed ONCE
- You need to create BY-LAWS stating who the officers are and what shares they hold.
- Officers will receive a 1099 w/Social Security, Medicare taxed on wages.
- Employees will receive a W-2 with Federal, State, Social Security and Medicare with-held.
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Just Give Us A Call 1718-476-1285
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