[Courtesy of IRS] WASHINGTON – The Internal Revenue Service and the Treasury Department cautioned taxpayers about participating in certain trust arrangements being sold to professional corporations and other small businesses as welfare benefit funds and identified some of the arrangements as listed transactions. There are many legitimate welfare benefit funds that provide benefits, such as […]
Tag Archives: Employment compensation
Today TaxMama hears from George in Brooklyn, NY who asks. “If a corporation gives an individual a car to use for commuting purposes, what amount gets reported on the individual tax return and how does the corporation report it on their side? Is the income subject to Social Security taxes for the employee?” ~~~~ Dear […]
Today Steve from Waltham, MA wants to know what to do about an employee. “We have an employee who is currently living and working in MA. She is moving to Florida and would like to continue to work for our company in Florida (while still reporting to her same manager in MA). We agreed. My […]