So, you’ve decided to act on your million dollar idea and formed a company. You’ve got an exciting product, momentum, and your workload is at the point where you need to bring in additional employees to help carry out your vision. What’s that you say? Not enough cashflow to pay […]
Startup and growing companies often use deferred compensation as an effective way to attract and retain important employees. Unfortunately, this process has been complicated by a recent tax change that significantly penalizes a broad range of “non-qualified” deferred compensation plans. Under Section 409A, deferred compensation which does not meet certain […]
Many online retailers do not collect state or local sales tax on customer purchases—a significant advantage that may be in jeopardy. Large online retailers, such as Amazon.com, have defended their decision not to collect sales tax by citing a 1992 U.S. Supreme Court decision. In that decision, the Supreme Court […]
Startup companies often seek to retain their founders and critical employees through the use of equity compensation. To ensure that these top people are committed to the company for the long-term, it is often a good idea to issue stock subject to buy-back provisions (founder’s restricted stock). However, shareholders must […]
It can be a huge money-saver for a small business to get into the practice of working with independent contractors. Using independent contractors will lower a companies tax bill, require less withholdings, and in some states, reduces the obligations under workers’ compensation requirements. As a result, many small businesses advantageously hire independent […]
Franklin County Job and Family Services is offering a Subsidized Employment Program covering between 65 and 100% of a qualified employee’s wages for a period of time (about 6 months). Here’s a link to their website; more information can be found on the PDF’s they link to on the […]
In 2009, many Ohio counties reappraised real property and assigned new values that will be used to determine property taxes through 2012. The deadline to contest these valuations in March 31, 2010. While not always cost effective, many owners of high value property are finding that in light of the […]
Simply forming a corporation or an LLC won’t protect you from individual liability if your company fails to pay sales tax it owes in Ohio. Individuals can be held personally liable for the sales tax debts of a company. Further, the dissolution, termination or bankruptcy of a company will not […]