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Understanding the FICA Tip Credit for Restaurants, Bars, and Other Food and Drink Establishments

With the official name of Credit for Portion of Employer Social Security Paid with Respect to Employee Cash Tips, the informally-dubbed "FICA tip credit" is a tax benefit for employers in the food ...
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What Taxes Do 1099 Employees Pay?

According to one recent study, about 36% of all workers in the United States are currently involved in the gig economy. In 2018, Americans spent literally billions of hours per week freelancing - ...
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In Fairfax County, How Solar Energy Equipment Can Cut Your Business Taxes

More and more local small business owners are looking at adding solar energy equipment to their facilities, and with good reason. Solar allows them to cut their electricity costs by producing power on ...
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What Business Tax Deductions Can My Small Business Claim in Virginia?

At Lipsey and Associates, our phone rings daily with questions from small and midsized business owners asking whether specific expenses may qualify as a tax deduction - and for a good reason.  Claiming ...
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Do Teleworking and Remote Employees Trigger Income Tax Nexus

A few months ago, as an employer, you may not have given much thought to where your employees live. Perhaps your main concerns were over commute times and where to send their tax forms ...
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Does My Small Business Need Multiple Bank Accounts?

Do you really need that other bank account? I have read multiple articles by a variety of sources: HR Journals, Bankers, News Outlets, etc. explaining the need to be able to track specifically ...
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