Filing Small Business Taxes for the First Time: What to Know
Filing small business taxes for the first time can be stressful, but it doesn't have to be. Here's what you need to know.
Filing small business taxes for the first time can be stressful, but it doesn't have to be. Here's what you need to know.
Filing Small Business Taxes for the First Time: What to Know
Filing small business taxes for the first time can be stressful, but it doesn't have to be. Here's what you need to know.
What you need to know to take immediate advantage of the paid leave credits. READ MORE HERE
Make your list and check it twice, even thrice! Deadlines for end of year forms have been updated, so make sure you are up-to-speed and on track for success.
The unassigned area numbers limited the Social Security numbers available for each assignment. The assignments were also limited based on the Social Security numbers available in each state, as determined by the area number.
What does it mean in 2018 when the legislation made major changes in 2017? These major changes included increasing, limiting or discontinuing some standard deductions, exemptions and changing rates in Brackets.
A benefit of a Health Savings Account to an employer is the tax savings you will earn by reducing total taxable wages.
Garnishments and child support orders are issued by the court and sent to the employer in order to start the calculation of the deduction of these items from the employee’s wages. It is very important to read the details in their entirety and then communicate to the entity designated in the order.
As you consider your annual budget and estimate cash flows during the year, you’ll want to take into account how payroll taxes may fluctuate throughout the year. Now is the perfect time to take a look at your tax liability.
Each year around tax time, we hear from a handful of clients who have employees who didn’t have enough (or any) withholding taxes taken from their pay checks. It could have been for a number of reasons such as: High exemption calculation from their W-4 form, low pay that didn’t trigger the tax tables, or a high number of pre-tax deductions.
The IRS will be recalculating and publishing new tax tables to go into effect this year. These updates will affect new hires as well as existing employees, so please take note. For new employees, you will still need to use the 2017 W-4 form until the new one is published. Continue to check online to see when the form is updated here. For existing employees, they may notice a change in the calculat…
The IRS has had its fair share of fraud and identity theft issues over recent years. Fraudulent claims cost millions, if not billions of dollars annually, and the numbers are increasing at an alarming rate. In attempt to minimize fraudulent claims, the filing deadline for 2017 W-2 and 1099 forms is January 31, 2018 for the second year in a row. The suggested best practice is for employers to have …
Significant changes are on the way for withholding tables in 2018. Important items to note: Recalculations of withholding tables will take some time to put together and send to the public. Look to early February at the earliest to see this change. Supplemental wages (bonuses and commission) on any amounts under $1 million will have an increased standard rate of 28% up from 25%. Private sector empl…
Is now a good time to think about employee W-2 forms? Yes, absolutely. Each year around tax time, we hear from a handful of clients who have employees who didn't have enough (or any) withholding taxes taken from their pay checks. It could have been for a number of reasons such as: high exemption calculation from their W-4 form, low pay that didn't trigger the tax tables, or a high number of pre…
In the past couple years we have had several dozen clients go through the steps to either rebrand their business, or change their entity type. With a rebrand, this can be a great time to infuse new energy and excitement around their product. With an entity change, a business will update their registration with the IRS. For the majority of our clients, this also means creating a new FEIN (Federal I…
