Compensation for employees is some variation of taxable wages reported on Form W-2. For allocation purposes, the employer or payroll provider downloads the census and compensation data based on the plan’s definition of compensation into a spreadsheet at the end of the year. It’s a little more complicated, of course, but let’s leave it at … Continue Reading
The recently passed Tax Reform and Jobs Act made fundamental changes affecting individual and entity tax rates. As a result, tax advisors will be considering whether clients are using the appropriate form and how new entities should be structured. If it sounds complicated, it can be, and best left to the tax experts. But here’s … Continue Reading