Rives & Associates

Year: 2013

Incorporating a Business

FREQUENTLY ASKED QUESTIONS Impacted by the Equifax Hack? Take These Steps Now! September 14, 2017 Articles, Cyber Security & Tax Scams Admin Should I incorporate my business? Answer: Operating as a sole proprietor is often the simplest and least expensive way to organize your business. Even so, many business owners choose to incorporate their businesses. …

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401(k) Plans

A 401(k) plan is a type of employer – sponsored retirement plan in which you can elect to defer receipt of some of your wages until retirement. If you make pre-tax contributions, your taxable income is reduced by the amount that you contribute to the plan each year, up to certain limits. The contributed amount …

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The new 0.9% Medicare tax: Watch out for withholding issues

Under the health care act, starting in 2013, taxpayers with earned income over $200,000 per year ($250,000 for joint filers and $125,000 for married filing separately) must pay an additional 0.9% Medicare tax on the excess earnings. Employers are required to withhold the tax beginning in the pay period in which wages exceed $200,000 for …

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