Quickbooks has released a series of updates with a goal of becoming more user-friendly. Scroll through the list of Quickbooks programs below to see which updates may influence the way you use Quickbooks. Quickbooks Online: Under Expenses or Payroll, you can view a list of Contractors and …
This tax season raised many questions concerning federal and state withholding. The 2017 Tax Cuts and Job Act reform the individual income tax code by lowering tax rates on wages, investment, and business income, broadening the tax base, and simplifying the tax code. On December 5, 2019, the IRS issued the redesigned 2020 form W-4 …
W4 Form Tax Withholding for IRS and State Income Taxes Read More »
The federal income tax deadline has passed for most individual taxpayers. However, some have not filed their 2020 tax returns or paid their tax due. If an individual taxpayer is owed a refund, there is no penalty for filing late. On the other hand, tax owed and …
What someone should do if they missed the May 17 deadline to file and pay taxes? Read More »
Many businesses choose to focus on their core competence by outsourcing services from other organizations or individuals. We often refer to them as Subcontractors, Contractors, or outside services. As the year-end approached, companies who paid for these outside services require to report to the IRS the amount …
Group health insurance is an essential part of employee benefits planning. Every year employers across the United States must handle new sets of health insurance premiums base on the group’s risk factor and claim history. Subsequently, an employer has to update payroll deductions for each participating employee …
The IRS continues to work hard to reach individuals eligible for Economic Impact Payments. According to IRS records, 9 million non-filers are yet to receive the payment. Individuals that are generally do not require to file tax return due to low income for either 2018 or 2019, …
Often, small business owners ask if buying a vehicle is better than leasing a business vehicle or vice versa. Business owners value assets differently and make decisions entirely based on each owner’s circumstances. Generally, the total cost associated with lease or purchase is ultimately the factor in …
Many small businesses that obtain the PPP Loan concluded their PPP loans covered periods. The lenders and the SBA flooding the internet with the PPP loan forgiveness applications, it is uncertain when the application is due or if it is currently adequately representing the latest guidelines. Legislative …
Small Businesses Unclear on How and When to File the PPP Forgiveness Loan Application Read More »
As we suspected, further guidance was provided by the SBA late May 22, related to the PPP (Paycheck Protection Program) provisional rules. Again, the detail instructions provide little remedy to the additional questions we continue to have. However, countless earlier questions were addressed in detail. As professionals, …
The SBA Provides Further Guidance Related to the PPP Provisional Rules Read More »
Beware of tax scam emails and phone calls, IRS warns NEW YORK — Months after business owners and other taxpayers have filed their returns with the IRS, thieves try to scam people out of money or personal information. Although scammers operate year-round, the IRS says they step …
Beware of tax scam emails and phone calls, IRS warns Read More »
