Blog - Philadelphia CPA
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The supper money fringe benefit provides the employee with meal money and gives the employer a tax deduction that is not reduced by the 50 percent rule that applies to most meals.(1)Example. Your employee works overtime to complete the task that you assigned. ...

IRS NOW SAYS NO PAYROLL TAXES ON FAMILY EMPLOYMENT IN A SINGLE-MEMBER LLCOops! That’s what the IRS says about its regulation that required corporate payroll tax treatment for single-member LLCs after December 31, 2008.1In their confessions, the IRS and the Treasury Department admit that...

TAX CHANGES THAT MAY AFFECT YOU IN 2011There are a host of tax changes that started in 2011 as well as unanticipated extensions of some tax breaks. The first change was a non-change. All of the tax brackets were scheduled to increase. However, for both...