Adding Staff, Multiplying Headaches – Tax Issues for a Small Business with a Few Employees


Tuesday, September 19, 2023 · 2:00 – 3:40 PM ET

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Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0161
IRS/RPO Approved Program
#7ZBUJ-T-00112-23-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00112-23-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, looks at how a small business' taxes and tax filings are affected once the business begins to add employees. The program will focus on the various new filings that arise and the withholding and reporting requirements. Panelists will examine who is considered an employee and whether or not family members are subject to the same rules as unrelated employees. The panel also will explore the changes that must occur to various fringe benefit and retirement plans.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the changes a small business undergoes once it begins the process of adding employees.

Program Learning Objectives

  1. Identify the filing, reporting, and withholding requirements imposed on a small business that adds employees.
  2. Identify the tax treatment of family members employed by the business.
  3. Identify how adding employees affects fringe benefits provided by the employer.
  4. Identify how retirement savings plans are affected by the addition of employees.

Program Outline

  • Once the Business Has Employees
    • When You Need an EIN
    • Employees vs. Independent Contractors
    • Family Members
    • Withholding from Employees
    • Employment Tax Payments
    • Information Reporting
    • Using IRS e-file for Employment Taxes
    • Employment Tax Penalties

  • Employing Family Members
    • Minor Children
    • Spouse
    • Reasonable Compensation
    • Payroll Tax Exemption

  • Fringe Benefits
    • Tax-Free or Taxable
    • Health Care Insurance
    • Health Reimbursement Arrangements
    • Expense Reimbursement and Per Diem
    • Tuition Reimbursement
    • Employee Gifts
    • FLEX accounts

  • Employer-Sponsored Retirement Savings
    • Nondiscrimination and Participation Requirements
    • Simplified Employee Pension (SEP)
    • Section 401(k) Plans
    • 403(b)

Panelists

Moderator

Alan Pinck, EA
A. Pinck & Associates

Alan Pinck is an Enrolled Agent with over 30 years of tax preparation experience in the San Francisco Bay Area. He has built a practice specializing in individual, small business tax preparation and audit representation. You have seen Alan presenting at NTPI events, CSEA Super Seminar, Spidell Publishing as well as a variety of other presentations for tax groups and small business associations. Having represented thousands of tax returns in audit, Alan has obtained tremendous insight of the audit process as well as knowledge on a wide variety of tax issues.

IRS Panelist

Coming soon!

Industry Panelists

Coming soon!

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.

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