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Payroll Tax News Updates: April 2024

CPA Practice

Although he wasn’t involved with payroll, he had check-signing authority over one bank account used solely to buy parts for the business. Now a district court in Pennsylvania has determined that he isn’t a responsible person (Powell, Civil Action No. But the manager wasn’t aware of the company’s failure to pay employment taxes on time.

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Some states require employers to pay additional payroll taxes. In Alaska, New Jersey, and Pennsylvania, both employers and employees contribute to the fund, with the employee’s portion of SUI deducted from their paychecks. Many companies also register with a payroll service, so they don’t have to worry about each state’s tax rates.

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Blank Checks And PO Manipulation Cost Businesses Millions

PYMNTS

600,000 was reportedly stolen by a Canadian bookkeeper , who was found to have taken advantage of the fact that the company’s president, Robert George, signed blank checks for the bookkeeper to make payments in accounts payable and payroll. Attorney BJay Pak in a statement, local news outlet Action News Jax said.

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10 Ways to Help Gen X Clients Prepare for Retirement

CPA Practice

Small business owners typically struggle with saving for retirement because they juggle operating expenses, payroll, taxes, and financing growth opportunities. Don’t forget about your business owners : According to a study by Guidant Financial, Gen X accounts for 47% of all small business owners. Follow Al-Nesha on Twitter @AlNeshaJ_CPA.