rp and other accounting people

[Chuck the Duck Slayer]

. You can't just be nice anymore.

When has he ever been nice to start with?

[theoldblackdog]

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

I hope they get electronic toothbrushes at least

[DoubleSprig]

a wage increase equal to the value of that cash envelope?

- conversely one could charge clients a lesser rate for services rendered, as those employees’ winfalls(?) came at the customers’ expense


EVERYONE PREFERS THE CASH ENVELOPE

[jwilliams]

Cash envelopes are not tax deductible

[murraywader]

I think you could easily mix in a little money laundering into a dental practice and then wouldn’t have to worry about how you bonus your employees. Go full send on the watchlist.

[Johnny Reb]

I love payroll conversations.


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[JABIII]

^^^I know you do.

Cash envelopes in the days of these employees? Just turn yourself in now because those employees will as soon as you make the wrong comment about XYZ...

[bearclaw]

RP^^ is right...and it depends on how significant the bonus is...BUt with my people, I usually talk to them before writing the check and say its going to be xx,xxx.00, do you want me to take the normal amount or what for Fed & St.

Sure is a lot of x’s in that bonus.

Just give the employees an hourly raise and no bonus. Then it’s the gift that keeps on giving.

[Johnny Reb]

I have several recommendations depending on size of bonuses.


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[Highstrung]

I pay for very good accountants so I don't have think about this. I know where I excel..

[Johnny Reb]

The largest individual bonus I have personally seen given by an employer to employee was $2.5 million.

Largest bonus I’ve seen given by an employer to be split amongst employees is $9 million.


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[jwilliams]

Sure is a lot of x’s in that bonus.

Just give the employees an hourly raise and no bonus. Then it’s the gift that keeps on giving.

Sounds good in theory, but when business drops with the coming recession, what do you do, let someone go?

[theoldblackdog]

Was the “employee” that got the 2.5 million himself/herself?

[Johnny Reb]

No. Executive level employee for very profitable privately owned business.


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[Jay]

I'd do it. Maybe. It all depends on employees. They talk and if one gets pissed because one or others got more, they will call the Dept of Labor. And when the DOL is through with you, they'll call the IRS. I have seen it done. You can't just be nice anymore.

Another scenario, someone wants you to pay in cash. You give them a 1099 and they don't file a return. The IRS runs them down and then you have to pay their taxes and penalties when they say they tell the IRS they thought you were withholding.

This. Cash is leverage when someone gets disgruntled.

[DRDUCK]

I think you could easily mix in a little money laundering into a dental practice and then wouldn’t have to worry about how you bonus your employees. Go full send on the watchlist.

You get it and I just saved myself alot of money having some work done, CASH IS STILL KING!!!!!!!!!!!!!!

[kquinn]

You are allowed to rent your personal house for 14 days annually. That income is tax free. 2th doc business pays fair market value to 2th doc personal for use of said home for legitimate business purposes. Pile of cash is generated for 2th doc personal to distribute as he sees fit at Christmas time. 100% business expense legally converted to cash presents. This only works if you are not already using the home rent loophole- which most don't.

[JABIII]

Lets hear who all you are using for payroll. Tons of options these days.

[Kirk]

I’m using Johnny Reb. It has made things easy for us.

[Rebel Yell]

excel..

I seent it...