Recently, the finalized version of the tax codes governing tax breaks for pass-through business structures was released by the federal government. This portion of the new tax laws that were put into effect last year will govern the 2018 tax season and beyond, allowing business owners that were relying on a pass-through tax break to lower their tax burden access to the information they need to finish planning for and preparing their taxes for this year. If you use pass-through business structures, here are the details to help get you started. Though the definition of pass-through business structures is fairly broad, it's also divided up by industry and category. It has been broadened to inclu
Long ago, before tax agencies would often muddy the waters, business owners sometimes saw reliable employees who had worked several decades at the same company end up destitute after they had to retire due to age or health concerns. One option that was often used was that the business owner would set aside a certain amount of stock in the company to be presented to the loyal employee upon retirement, providing them with the means to support themselves in their golden years. Today, that structure has been adapted to modern tax agencies and retirement funds to form an employee-owned company. But how do they work? Here's a quick look at this somewhat unusual business structure. Though more comm
Whether you're a budding solopreneur who needs a little more sanity than the home workspace provides or a small business that needs a better location for a temporary project, coworking space may be a decent option to consider to make your life a little easier without a long-term commitment. But what exactly is a coworking space, how is it different than other options that are available and how does it work? Here's a quick look at the topic to get you started. Unlike leasing an office space where you then need to provide phones, internet, furniture, electricity, copy machines, coffee and other infrastructure, coworking spaces are already set up and ready to go. All you need to bring is yourse
January 31 just around the corner, the changes that have happened recently with the Illinois medical marijuana pilot program have the potential to impact your company. Put into place to provide With alternative pain management options due to the opioid crisis, the change to the program allows patients receiving opioid pain medications who are not already part of the medical marijuana program to switch to that program. But what does it mean for your company and what impact will it have overall? Here's a quick look to help get you started. If your business involves driving, you should be aware that participants in the program are not allowed to hold a commercial driver's license or bus driver'
Have you found yourself in a bind with the federal tax changes suddenly impacting your Missouri state taxes? If you are, you aren't alone. With the radical changes that took place last year in the federal tax code, many taxpayers are only now realizing the massive impact those changes are having on their Missouri state taxes as well. But how will these changes impact you and your business, A recent bill introduced by Representative Crystal Quade of Springfield brings to light a longstanding issue with how the Missouri Department of Revenue calculates anticipated annual state income taxes. In past years, it has not been as big of an issue for employers and citizens because the way the federal
It used to be that the vision of someone sitting at a home desk working on their computer for a company hundreds or thousands of miles away was a fantasy shown in science fiction movies. But that day is happening now. Many companies have improved their telecommuting options over the years and others have done away with entire departments in favor of outsourcing those tasks. But why has this change happened? It's all part of the digital transformation of our world and society summed up in the term digitization. Here's how outsourcing fits into this overall trend. Part of the drive of digitization is creating businesses that are more flexible to rapidly evolving market conditions and more agil
