Rimberg Online Bookkeeping

Personal Income tax returns are due April 15th.
Why are so many individuals filing for extensions?

Don’t let this happen to you. Stories surface all the time of business owners being caught off guard by employee theft. Listen as Robert shares his system for preventing employee theft.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

When’s the best time to plan your exit strategy? The answer may surprise you. (And even if you don’t think you need one, watch anyway because you’ll get some new ideas.) In this very informative video, Robert discusses what situations call for an exit strategy, and how to get started with that important business process.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Hey everyone, the summer is over and it’s time to redouble our efforts to make our businesses a huge success. I was with a potential client this week who owns a restaurant. He wanted to know if it’s ok to treat the busboys as independent contractors. The short answer- absolutely not!

IRS Summertime Tax Tip 2009-20
If you are a small business owner, whether you hire people as independent contractors or as employees will impact how much taxes you pay and the amount of taxes you withhold from their paychecks. Further, it will affect how much additional cost your business must bear, what documents and information they must provide to you, and what tax documents you must give to them.

Here are the top ten things every business owner should know about hiring people as independent contractors versus hiring them as employees.

1. Three characteristics are used by the IRS to determine the relationship between businesses and workers: Behavioral Control, Financial Control, and the Type of Relationship.

2. Behavioral Control covers facts that show whether the business has a right to direct or control how the work is done through instructions, training or other means.

3. Financial Control covers facts that show whether the business has a right to direct or control the financial and business aspects of the worker’s job.

4. The Type of Relationship factor relates to how the workers and the business owner perceive their relationship.

5. If you have the right to control or direct not only what is to be done, but also how it is to be done, then your workers are most likely employees.

6. If you can direct or control only the result of the work done – and not the means and methods of accomplishing the result – then your workers are probably independent contractors.

7. Employers who misclassify workers as independent contractors can end up with substantial tax bills. Additionally, they can face penalties for failing to pay employment taxes and for failing to file required tax forms.

8. Workers can avoid higher tax bills and lost benefits if they know their proper status.

9. Both employers and workers can ask the IRS to make a determination on whether a specific individual is an independent contractor or an employee by filing a Form SS-8 – Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding – with the IRS.

10. You can learn more about the critical determination of a worker’s status as an Independent Contractor or Employee at IRS.gov by selecting the Small Business link. Additional resources include IRS Publication 15-A, Employer’s Supplemental Tax Guide, Publication 1779, Independent Contractor or Employee, and Publication 1976.

Do You Qualify for Relief under Section 530? These publications and Form SS-8 are available on the IRS Web site or by calling the IRS at 800-829-3676 (800-TAX-FORM).

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

You may be using Quickbooks, but are you looking at the right reports?
Listen in as Robert shares how to make sure you are getting the best information so that you can make good business decisions.

If you are interested in an even more detailed explanation about the reports the really successful business owners are reading, be sure to go to the website at www.RimbergOnlineBookkeeping.com and sign up for the free report there.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Hey Business Owner – have you ever wondered how you can collect the money your customers owe you? Listen as I give you the secret to not going down the cash flow challenge by getting the monies owed to you.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Are you making the mistake of just working your business to break even? Listen to this short video as Rob talks about understanding profit and loss statements, and gives his two cents about why you want to shoot higher in your business.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Last month I attended Brendan Burchard’s Experts Acadamey in San Francisco. One of Brendan’s guest speakers was literary agent, Scott Hoffman. At first I wasn’t sure why I would write and publish a book, but after listening to Scott, I’m ready to go!

What will YOUR next book be about?

Robert

Robert Rimberg meets Tony Robbins

Our Solultion, Your Success