The so-called “gig economy” challenges conventional practices between companies and the people who perform the work. A key question is: Are these workers independent contractors or employees? The U.S. Department of Labor (DOL) recently published a new wage and hour opinion letter, spelling out its position with respect to a specific virtual marketplace company (VMC).… Continue reading
Monthly Archives: May 2019
Sticker Shock: How Much Does a College Degree Cost?
“Many families are uninformed about the cost of attending college,” claims a recent study by the National Center for Education Statistics, part of the U.S. Department of Education’s research division. Only 11% of high school freshmen could accurately estimate the cost of college tuition in their state. Of those that gave the wrong answer, 57%… Continue reading
How Can Small Business Owners Reduce Social Security and Medicare Taxes?
If your small business is unincorporated, you may be fed up with paying the federal self-employment (SE) tax. This tax is how the federal government collects Social Security and Medicare taxes from self-employed individuals. However, you may be able to lower your exposure to these taxes if you structure your business as a subchapter S… Continue reading
