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Tag: IRS

Audit Scope

Audit Scope Definition Audit scope, defined as the amount of time and documents which are involved in an audit, is an important factor in all auditing. The audit scope, ultimately, establishes how deeply an audit is performed. It can range from simple to complete, including all company documents. Audit scope limitations can result from the different purposes

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Cafeteria Plan

See Also: Employee Stock Ownership Plan Evaluating and Renewing Employee Health Insurance Plan Insulate Your Company from Rising Health Insurance Costs How to Hire New Employees How to Run an Effective Meeting Cafeteria Plan Definition The cafeteria plan definition is a flexible employee benefit plan that allows employees to choose from a selection of fringe

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IRS Cracks Down on Employee Misclassification

I recently came across an interesting Wall Street Journal article discussing how the IRS has begun cracking down on employee misclassification. This is where employers misclassify workers as independent contractors to avoid payroll taxes and other employment-related expenses.  Many small businesses use contract workers in order to stay lean and, with the new healthcare changes on

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