MyIRSRelief

OCTOBER 1, 2019

If you are facing payroll tax problems, then you have a serious issue on your hands. This is especially true for small business owners and entrepreneurs who may not have the knowledge, experience, or skill set to understand how tax issues with their 940/941payroll and employment got out of hand.

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Shay CPA

MAY 3, 2023

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. As a quick reminder, this is the 6.2% The bad news?

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SMBAccountant

NOVEMBER 17, 2021

Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. This typically happens in at least 2 withdrawals; net pay and payroll taxes. From a cursory look, it would seem simple.

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Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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ThomsonReuters

APRIL 18, 2023

For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? Missing deadlines Federal taxes must be deposited on specific dates.

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MyIRSRelief

MARCH 29, 2024

Business Bookkeeping & Accounting Service Effective bookkeeping and accounting are vital for the smooth operation of any business. In Whittier, California, businesses can benefit from professional bookkeeping and accounting services that offer more than just record-keeping.

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RogerRossmeisl

NOVEMBER 16, 2021

With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs.

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MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government.

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CPA Practice

SEPTEMBER 8, 2023

The tax law provides benefits to employees who choose to participate in flexible spending accounts (FSAs) for qualified expenses. However, if there’s a balance in the account at the end of the year, the remaining funds are generally forfeited. Similarly, the employer saves on its share of payroll taxes.

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inDinero Tax Tips

MAY 21, 2021

If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. The R&D tax credit wasn’t always available to small businesses. Until 2015, the credit had been subject to renewal by Congress, making it less reliable as a tax strategy.

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LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. Payroll Tax Filings: Forms That You Need. Those are forms I9 and W-4.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. Discuss Payment Options: If you owe taxes, discuss payment options with your advisor. What should I do?

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LyfeAccounting

NOVEMBER 17, 2020

With our first business, LYFE Marketing, I remember stressing to figure out what was the best way to pay my taxes. I missed payroll tax filing deadlines that cost me thousands of dollars. Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. Withholding Taxes.

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CPA Practice

AUGUST 7, 2023

The accounting software and payroll services provider, Patriot Software, has processed over $13 billion in payroll and payroll tax dollars since 2018, a milestone for the SaaS developer says it hit in June 2023. Patriot’s Full Service Payroll handles federal, state, and local payroll tax deposits and filings.

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Ronika Khanna CPA,CA

APRIL 26, 2024

Business tax instalment payments (including GST-QST instalments ) This means that instead of entering the data on the forms that are available via my business account at CRA and RQ and then going to your bank to make payment, either online or via mail, it can all be done at one time through one form that serves as both tax filing and payment.

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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Basis 365

DECEMBER 28, 2022

Small business owners can use payroll services to manage their tax filings and pay their payroll. However, outsourcing to a third-party payroll service provider is better than trying to handle payroll as you grow. These ten questions will help you choose the right payroll service provider.

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SkagitCountyTaxServices

DECEMBER 7, 2023

Now that we’re into December, time is short to take care of your year-end accounting. This is something we specialize in so be sure to get on our calendar to set up your EOY tax planning appointment: app.acuityscheduling.com/schedule.php?owner=19530343 Another of those areas is payroll reconciliation.

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MyIRSRelief

SEPTEMBER 20, 2021

IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Levy – we release wage and bank levies. – Tax Audits. – Tax Appeal.

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Patriot Software

AUGUST 7, 2023

Canton, OH The accounting software and payroll services provider, Patriot Software, has processed over $13 billion in payroll and payroll tax dollars since 2018, a milestone for the SaaS developer. The company offers free […] Read More

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ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional (CPP) Corner, we talked about taxable and nontaxble fringe benefits. Payroll conference guidance on fringe benefits. Payroll Guide ¶3540 discusses fringe benefits. Payroll Guide ¶3585 discusses qualified transportation fringe benefits. Overtime investigations.

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CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

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CPA Practice

OCTOBER 20, 2023

Here’s the crux of the matter: If a worker is classified as an employee, the employer must pay its share of payroll taxes, withhold the employee’s share of payroll taxes and required income taxes and report those amounts to the IRS. How can you tell them apart?

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Basis 365

MARCH 6, 2023

Are you tired of spending countless hours on bookkeeping, payroll, and tax preparation? If so, consider outsourcing your accounting tasks. In this article, we'll explore the benefits of outsourcing accounting, including outsourced bookkeeping and outsourcing to an accountant.

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ThomsonReuters

JANUARY 14, 2022

The top payroll related searches for 2021. Payroll practitioners and employers alike continue to be challenged by the unique issues that COVID-19 has imposed on payroll administration. Payroll on Checkpoint has analyzed the searches of our subscribers to create this Top 20 list of topics in the forefront in 2021.

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ThomsonReuters

APRIL 18, 2024

With 75% of employers in the Americas forecasting that the average employee will be a hybrid worker within two years, employers should carefully consider the tax implications of such arrangements where the employee may be working in one state in-office and remotely in another state at home.

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Basis 365

SEPTEMBER 5, 2022

Small and medium-sized companies who want to cut overheads without sacrificing efficiency are increasingly choosing outsourcing accounting. Understanding the differences between in-house and outsourced accounting is essential if you are starting a business or just studying accounting. This is rare in business.

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Shay CPA

JANUARY 11, 2023

If you’re interested in hiring abroad, explore your international payroll solutions. Deel’s global payroll services also function through employer-of-record services. And they can help you make data-driven decisions with their user-friendly dashboards to track payroll, benefits, and more. . Remove vs. Deel: how each works.

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CPA Practice

FEBRUARY 12, 2024

Bill to eliminate tax on Social Security Eliminating federal income tax on Social Security retirement benefits could benefit many retirees, especially those who receive other types of taxable income, such as from wages or distributions from retirement accounts. As Kiplinger reported, the Social Security tax wage base jumped 5.2%

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Accounting Insight

FEBRUARY 16, 2023

But no matter the size, with tracking and paying expenses, making payroll, setting budgets, preparing for the tax season, and more all falling under one department, you’re likely looking for ways to make managing financial processes easier and more transparent. What is payroll? Take expenses, for example.

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RogerRossmeisl

NOVEMBER 13, 2022

One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Distributions from HSAs to cover qualified medical expenses aren’t taxed.

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Basis 365

AUGUST 30, 2022

Outsourcing accounting services allows you to focus on running your business while letting an expert handle all the bookkeeping details. Why Should You Hire an Outsourced Accountant? If you're looking for ways to save money, consider hiring an outsourced accountant. Outsourcing accountant services aren't cheap.

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CPA Practice

APRIL 1, 2024

“The AICPA is encouraged by the actions being taken by the IRS to reduce the number of improper ERC claims and ensure that the businesses that are eligible for and need these funds receive them,” said Sue Coffey, AICPA’s CEO of public accounting. “We

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ThomsonReuters

FEBRUARY 9, 2022

Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. The 2022 tax year version may include more states if the loans are not repaid. The guide also contains information on FUTA taxes.

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ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

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