Form 1040-NR is a version of the IRS income tax return for nonresident aliens to file if they engaged in business in the United States during the tax year or otherwise earned income from U.S. sources throughout the year. The form is also filled out by representatives of a deceased person who would have filed and for an estate or trust that needs to file the form. As with the regular Form 1040, those who fill out Form 1040-NR may either owe more money or be entitled to a refund.
If the pandemic proved anything, it's that life tends to get in the way of our plans — including retirement plans. Over the course of the pandemic, many people were forced to retire early, others decided they wanted to retire and still others opted to change their planned retirement date. The number of people affected is high; a recent survey found that more than 80% of Americans say their retirement plans were impacted by the pandemic.
"Key performance indicators" let you know whether or not your business is on track for success. Operating a business without KPIs is like piloting a plane without instruments. KPIs shine a light on performance and reveal which areas in your business need attention.
What kind of business is a mom-and-pop operation? It's probably not a question you pondered when you dreamed of going into business with your spouse. If your spouse is integral to carrying on its operations and shares in the profits and losses, you may consider yourselves partners without the formal partnership agreement.
In May 2021, the Department of Labor withdrew the “Independent Contractor Status Under the Fair Labor Standards Act” final rule. According to the Society for Human Resource Management, "The DOL has traditionally analyzed a number of factors to consider whether a worker is an independent contractor or employee and looked at 'the totality of the circumstances.' The withdrawn rule would have applied a more-limited economic-reality test."
These are hard times for businesses trying to navigate the various rules and regulations related to reopening after the pandemic. No business wants to get caught up in litigation if it can be avoided. Five of the most pressing health-related concerns are discussed here:
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