IRS audits now routinely review S corp payments to shareholders to see if payroll taxes are being avoided by treating payments to shareholder-officers as loans or shareholder distributions of cash or property.
An officer performing services for a corporation is entitled to payment; those payments are wages. For federal employment tax purposes, corporate officers are employees.
Avoiding employment taxes by treating compensation as cash distributions, expense reimbursements,… Continue
Added by Martin G Meyer, CPB on December 30, 2008 at 3:34pm —
Being a public relations professional, I decided to start a blog, www.michellestephenson.blogspot.com, to give PR tips as well as to inform readers about upcoming events, what's going on in our community, post my press releases and whatever else I feel like discussing. It's just another outlet to have my opinion heard as well as the opinion of my readers.So, feel free to make comments! I look forward to hearing from you!
"Why Blog?" you ask....
1. Easy and FREE way to market… Continue
Added by Michelle Stephenson on December 29, 2008 at 11:42pm —
What is twitter you say?
Here's the link to Twitter
Twitter is a rather new web2.0 tech that helps networking.
Want to get it? You should read this blog: http://blog.mrtweet.net/?p=69
Then you should create a twitter account, follow me on twitter
and then follow mrtweet for automated networking advice.
If you already have a… Continue
Added by Eric Standlee on December 29, 2008 at 9:07pm —
Have you ever wondered the value of facebook?
Try going to http://www.facebook.com/home.php#/friends/?phonebook&ref=nf
This adds a phonebook to facebook.
Added by Eric Standlee on December 29, 2008 at 8:30pm —
Are you an avid University of Texas or Ohio State fan who would be interested in attending the Fiesta Bowl on January 5th in Arizona? Or perhaps you have a friend who might be.
Have 4 tickets on the Ohio State side, asking face value of $150/ticket. Email me at firstname.lastname@example.org if interested.
Added by Judy Anderson on December 29, 2008 at 10:48am —
How would you like to own your own business, be your own boss and collect a tax write-off at the same time.
Visit my website at http://www.marykay.com/ggros and read all about this 45 year old company.
You can be a part of a company that has "The Golden Rule" as a mission. A company that puts women's priorities in the correct order of: God First, Family Second and Career Third.
You work your business in priority with your goals.
281-493-9539 or… Continue
Added by Glynda Gros on December 28, 2008 at 11:06pm —
We have painstakingly picked amazing non-profits dedicated not to just raising money but to making a difference.
You can view links to their profiles here: http://inhouston.ning.com/page/npo-focuses
Don't forget that the deadline for 2008 tax-deductible donations is coming up really quick.
Who have you welcomed to the group lately?
Who have you invited to join lately?
Added by Eric Standlee on December 27, 2008 at 10:46pm —
We are a brand new startup restaurant here in the highland village. Family operated and focused on quality homemade goods. Please come and check us out. We currently serve lunch weekdays and weekend brunch. Please call for catering or large take-out/delivery information.
Please mention InHouston and receive a free drink with your meal. Thank for your support.
2900 Weslayan St.
Houston, TX 77027
713 626… Continue
Added by michael wang on December 27, 2008 at 4:00pm —
Hi, my name is Steven Bonacorsi and a Lean Six Sigma Master Black Belt. I would like to add you to my professional network
Let me know if I can be of any assistance to you and your business.
A good group to join is the Lean Six Sigma Group
Another good groups is Advanced Innovation… Continue
Added by Steven Bonacorsi on December 24, 2008 at 11:08am —
The new year is approaching and we are all ready for the holidays (at least some of us). I know that this season truly snuck up on me. I was able to get my Christmas cards out but was seriously lagging in the present preparation progress.
So, while you are taking time to relax during your vacation time, I hope you set aside time for yourself. If you can, maybe you can spend a few minutes browsing your own website. Or while you might be doing some online shopping, take some time to… Continue
Added by Christina Hawkins on December 24, 2008 at 7:30am —
I started inhouston.ning.com which is also a LinkedIn group among others.
I was networking on LinkedIn like I do in person and found that there were hundreds of thousands of people on LinkedIn in Houston. I started meeting them onsie twosies for coffee and realized that it would take many lifetimes to meet them all that way and many more to even try to help them.
At about the same time, I started to apply lessons learned from a book like Never Eat Alone by Ferrazzi and… Continue
Added by Eric Standlee on December 22, 2008 at 9:25pm —
This is a typical question I get when I tell people what I do so I thought I’d put some thoughts together to help increase awareness of this very popular but still new subject.
I’ll begin with two concepts that I feel can place you in a mindset to better “get it”:
1. Walk lightly in the world of our children and their children.
2. Measure your carbon footprint.
Under the first concept, we need to consider our personal life and our business life. We can ask,… Continue
Added by Lilibeth Andre on December 22, 2008 at 10:32am —
I need all bankers who are receiving commercial loan requests to be referred to me.
Most banks cannot do commercial loans now. We can help those banks.
Please refer them to me.
Added by Eric Standlee on December 18, 2008 at 10:32pm —
If you are like most Internet users you likely have more than one email account and subscribe to a few social networks such as LinkedIn or InHouston. According to eMarketer 65% of all users maintain 3 or more email accounts and belong to at least one social network. Simply keeping track of all your online communications can be a nightmare; many of us refer to this problem as "Information Overload." Existing tools like Outlook or Gmail may not… Continue
Added by Mark Schmulen on December 17, 2008 at 1:00pm —
The Canine Chronicles: Introduction
Peter A. Wood
My family was a typical family of four . . . or more if you count the animals. One father, one mother, one older brother (or “older bother”) and me, five birds, three cats, three dogs, and two little girls for babysitting. Okay, maybe not “typical.” I grew up around pets, some two-legged with feathers, some four-legged with fur and some with pig tails causing quite a stir. I moved out when I was seventeen and began… Continue
Added by Peter Wood on December 15, 2008 at 9:17pm —
The Houston Business EXPO is TOMORROW and I know you're all excited about it. This Networking experience is going to be great but Networking at an EXPO is different from Networking in any other enviroment. It can be long and tiring but if you have a plan you can make it. Here is an article that hopefully will help you be more productive in your networking activities at this and any EXPO:
When networking at an EXPO, it’s important to have a strategy, but you can’t have a strategy… Continue
Added by Lataya Ballard-Simpson on December 15, 2008 at 9:30am —
I need to get introduced to staffing firms through your network. You could use a simple email like this to ask your address book"
I am looking for referrals into staffing firms. They are really feeling the credit crunch and are faced with not taking on more temp deals, or even laying off. We can fund them so they can grow and keep employing temps.
Financially, here's what is causing this as far as I can see. Banks aren't able to sell their commercial… Continue
Added by Eric Standlee on December 14, 2008 at 1:24pm —
Taxing a cash (or cash equivalent) bonus
You are required to treat any cash bonus as wages and to apply FITW, FICA, FUTA, and state and local payroll taxes. If you give the bonus separately from regular wages, or with regular wages but identified as separate, the supplemental withholding rate—25% for 2008—can be used. [26 CFR 31.3402(g)-1]
A discretionary bonus is a lump sum that the employer decides when to give and how much to give. It cannot be required by a contract,… Continue
Added by Martin G Meyer, CPB on December 13, 2008 at 4:10pm —
Life as a consultant often means traveling and relying on the services of others. With services we have all experienced the good (Vonage), the bad (Comcast) and the ugly (Kool Breeze). As my fellow tweeters know, these were a few of my experiences when I moved to Houston in July.
I worked in Houston for over a year before moving my family down from Ohio. This meant I had to rely on services of many others to get thru the week, be it for transportation, hotel, food and anything else a… Continue
Added by Brian Mahn on December 13, 2008 at 5:00am —
Do you know of anyone in need of office space in the Galleria Area? We have extra space available for sublease. We are located in The Decorative Center in the Tanglewood area. Please contact me at 281 833 3040 if you know of anyone that might be interested.
281 833 3040
Added by Cheryl Garcia on December 12, 2008 at 3:51pm —