Temporary Employee vs Permanent Employee

Temporary Employee vs Permanent Employee

There are no federal laws defining how long an employee can be considered “temporary.” The time frame can vary based on an organization’s budget considerations and business needs.  Best practices for temporary employees include setting clear parameters for the time...
Nebraska Microenterprise Tax Credit

Nebraska Microenterprise Tax Credit

If you are starting a new business and/or expanding your existing small (less than six full-time equivalent employees) business in any of the following ways, you could be eligible for a Nebraska tax credit of up to $20,000: New large (>$2,500) asset/equipment...
W-2 Employee vs. 1099 Contractor

W-2 Employee vs. 1099 Contractor

Classifying a worker as a W-2 Employee vs. a 1099 Contractor has significant tax and other consequences on both the worker and the business/organization. However, the consequences should not drive the classification determination. Instead the classification should be...
Business vs Hobby

Business vs Hobby

When it comes to earning income from a side gig of any sort you are in one of two worlds: Business Income or Hobby Income. There are advantages and disadvantages to each classification. If you are in the business of fill-in-the-blank, you are able to deduct all...
Backdoor Roth IRA?

Backdoor Roth IRA?

What is a Backdoor Roth and should I walk through it? If your income is too high to contribute directly to a Roth IRA, you may be a good candidate for using the Backdoor Roth strategy. There are some trap doors though! To learn more, start by reading this...