It is not uncommon if you have filed your 2020 tax return with the IRS, but still have questions. Some of the most common questions asked are highlighted in this article. Are you wondering when you will receive your refund? The IRS has an online tool that can tell you the status of your refund. […]

If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. Just simply by organizing your business as an S Corporation, you could cut your tax bill. Fundamentals of self-employment tax The self-employment tax is imposed on 92.35% of […]

The COVID-19 pandemic hit suddenly and companies were forced to react quickly. Understandably, you may not have fully documented all the changes you have made. But we at Rudler suggest that you should. One of the ideal places to do so is in your employee handbook. Now that optimism is rising for a return to […]

The number of people engaged in the “gig” or sharing economy has been growing, according to several reports. There are tax consequences for the people who perform these jobs, which include providing car rides, delivering food, walking dogs and providing other services. Bottom line: If you receive income from freelancing or from one of the […]

Many businesses use independent contractors. If you are among them, make sure that these workers are properly classified for federal tax purposes. If the IRS were to reclassify them as employees, the change in classification could be expensive. Determining whether a worker is an independent contractor or an employee for federal income and employment tax […]

The Small Business Administration (SBA) has launched the Restaurant Revitalization Fund (RRF). It was established under the American Rescue Plan Act (ARPA) signed into law in March and went live for applications on May 3rd. The SBA is strongly urging interested, eligible businesses to apply as soon as possible. Who’s eligible? Funds are available for […]

For the second year in a row, the IRS has extended the filing date for federal taxes due to the COVID-19 pandemic. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. If you still aren’t ready to file your return, you should request a tax-filing extension. Anyone can request […]

An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified educational assistance program.”   For this purpose, “education” means any form of instruction or training that improves or develops an individual’s capabilities. It doesn’t matter if it’s job-related or part of […]

In order to reduce absenteeism and control benefit cost many businesses have established or are considering employee wellness programs.  Yet there’s a wide variety of ways to design and operate a wellness program. How can you ensure yours fulfills objectives such as reducing absenteeism and controlling benefits costs? Build it on a solid foundation. Employee […]

Here is why you don’t want to miss it. To avoid paying penalties and interest you must pay your taxes by May 17, 2020. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. Here are the basic rules. Failure to pay Separate penalties apply for failing […]