What’s happening here?

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Most of you know I had a birthday.  (OK, we all have them, but you know what I mean.) And, at least to me, it is not surprising that each year brings on some limitation of some sort (most of which only exist between my two ears).  And, more than a few strands of grey.   (You may not see them except in my beard- but I do!) Of course, I earned them…

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Faux-Pas or Growth Opportunity?

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One of the hardest things to face when growing your company is when a well-meaning staffer makes a decision- one you empowered him to make- that goes contrary to your well-conceived plan of action.   As you grow the firm from two to 10 to 50 to 200 and beyond, this scenario is something that should be part of the planning processes.

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Responsible Corporate Officer Doctrine?

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So, I know this will tick a whole bunch of you off.  But, the subject matter needs to be discussed.

We all know that Western Civilizations believe (not necessarily practice) in the concept of law that an individual may only be prosecuted and convicted of a crime should that individual be proven to have willfully or knowingly committed an unlawful act.   But, in the corporate world, that practice has not routinely been the law of the land.  The governments have been threatening to do so for transgressions of a financial, environmental, or food and drug laws.  This is called the “responsible corporate office doctrine”, akin (of sorts) to how the IRS goes after corporate officers and check-signers for trust fund taxes (last week’s post).

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Go Directly to Jail. Do NOT Pass Go!

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The guaranteed way a company owner  can get himself (or herself) in deep, almost unrecoverable, trouble with the IRS  is to not pay employment taxes. Employment taxes are the withholdings of income tax, Social Security, and Medicare from an employee’s paycheck.   The IRS is forever on the lookout for companies that fail to pay these taxes on time.

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