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Advising clients to file Form 941-X for missed COVID-19 relief credits.

ThomsonReuters

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. see IRC Sec.

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Attract and retain talent with a culture that’s ‘objectif’ (purpose driven)

Xero

This guest blog post is written by Jaclyn Anku who runs Community & Education for the HR and payroll platform Gusto. And you can embed that in your entire hire-to-retire process by taking a proactive role in intentionally shaping each phase of the employee journey. . Attract candidates by rewarding employee referrals.

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Treasury’s On-Demand Pay Proposal Shows IRS’s Concern with Constructive Receipt, Says Tax Services Director

ThomsonReuters

says that the Treasury Department’s proposal to clarify the tax treatment of on-demand pay arrangements makes it “clear” that the IRS is concerned with the constructive receipt issue of this trending employee benefit. In the payroll industry, such arrangements are generally referred to as earned wage access or EWA.

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A Guide on How to Hire Your Kids and Pay Less in Taxes

LyfeAccounting

And that is by hiring them in your business and placing them on the payroll. That’s right, hiring little billy and sally as employees in your business will not only save you on taxes… …but the money you pay them can go directly to child expenses like clothes, school supplies, college savings, and much much more.

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Can Employers Pay Wages in Cryptocurrency?

ThomsonReuters

However, when it comes to wages, can employers pay employees in cryptocurrency? According to Investopedia, advantages of cryptocurrencies include cheaper and faster money transfers and decentralized systems that do not collapse at a single point of failure. politician to receive their first paycheck in Bitcoin. What is cryptocurrency?

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Reduce Manual Data Entry: Automate

Snyder

In this blog, I’ll discuss the benefits of new finance and accounting tools, what these tools are, and how they might change the way you work for your clients. Bookkeepers, specifically, may wish to automate daily recurring data entry such as this for their book of clients which can provide a tactical advantage in an uncertain world.