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Greetings Website Guest! Below is your customized newsletter for February 22, 2007.
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Things to Consider When Appointing Advisory Board
By Marc I. Abrams, CPA, SLGG Partner
Whether your business is just starting up or already growing, an outside advisory board can be extremely helpful.
While a board cannot manage your day-to-day operations, it can contribute to the strategic process by drawing on board members' expertise and experience. It can help you determine whether you should expand a product line, enter new markets, and grow internally or acquire other businesses. In addition, for a closely held business that is considering going public, board members who have been through the process can be invaluable. Read more...
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Unpaid Trust Fund Taxes Are Serious Business
One category of taxes the IRS considers a priority is unpaid employment taxes. Unfortunately some businesses engage in “pyramiding” – repeatedly withholding trust fund taxes from employees but intentionally failing to send them to the IRS.
Regardless of the reason a business has for not paying, federal law requires that employment taxes be paid to the government on time. Failure to do so may subject you to penalties and interest, collection actions, or seizure of assets. Read more...
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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