Self Employment Tax and Disregarded Business Entities

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The employment tax rules for limited liability companies and partnerships that are treated as “disregarded” business entities for federal income tax purposes often serves as a source of confusion. Disregarded entities are most often sole proprietorships and single member limited liability companies.  In both instances, the owner reports the income from the business activity on […]

Proposed Legislation Favorable for S Corp ESOPs

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House Representative and Small Business Committee Chairman Steve Chabot, R-Ohio, announced late last week that he will cosponsor the Promotion and Expansion of Private Employee Ownership Bill of 2015 HR 2096 with the goal of “provide[ing] additional help for S corporations interested in forming employee stock ownership programs] (ESOPs)”. The bipartisan legislation is also sponsored […]

IRS Announces Inflation Adjustments for Health Savings Accounts

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There is no greater struggle than dealing with spiraling costs of healthcare and the insurance products intended to assist with that care.  As premiums continue to increase and employees’ shares of those increases climb, it is becoming more and more common to incorporate Health savings Accounts into the overall mix of funding healthcare needs.   Understanding, […]