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There are a few different payment options you can offer your employees. Direct deposit is one popular choice for both employees and employers. Before implementing it at your business, weigh the pros and cons of direct deposit. What is direct deposit? Direct deposit is an electronic funds transfer (EFT), meaning money can be transferred from […] READ MORE.
A proposed penalty from the Federal Communication Commission shows the danger of a hire-and-forget attitude toward a third-party for tax compliance. The FCC has proposed a $153,000 penalty against a Florida-based telecom provider that had outsourced its compliance tasks. The FCC alleges that the company failed: to cooperate with the revenue reporting verification functions (i.e., “contributor audits”) by the Universal Service Administrative Company?
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Each state’s income taxes are different. Some states have low taxes, some have high taxes, and some states don’t have income taxes at all. State income taxes get even more complicated when you have an employee who lives and works in different states, works from home in a state where your business isn’t located, or […] READ MORE.
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Let’s say your employees come to work Monday through Friday. They don’t work at all on Saturday and Sunday. Monday through Friday is their workweek, right? Not when it comes to the Fair Labor Standards Act (FLSA) and your payroll. For payroll, there are no such things as business days and weekends. Every day must […] READ MORE.
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Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Finance Act , 2022 introduced various amendments under GST Law. However, most of the amendments were not implemented till date. Now, with effect from 1st October 2022, the following amendments are made applicable. 1. Due date of claiming ITC extended and Only eligible ITC can be claimed- Amendment in Section 16 (Section 100 of the Finance Act, 2022). 1.1 Extended due date of claiming ITC.
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If you are a small business owner who earns self-employment income from your business, you must pay self-employment tax. Like all taxes, there is a specific form to calculate and file self-employment tax. Do you know what form to use for self-employment tax? You need IRS Schedule SE. Find out what you need to know […] READ MORE.
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