Patriot Software

OCTOBER 12, 2022

When it comes to payroll taxes, for-profit businesses have it pretty straightforward. For-profits pay payroll taxes. Do nonprofits pay payroll taxes? Do nonprofits pay payroll taxes? Payroll taxes are amounts withheld from your employees’ wages and paid to […] READ MORE.

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Patriot Software

AUGUST 17, 2020

Tax withholding comes with the territory of being an employer. Employment taxes can be broken down into payroll taxes and income taxes. But when you hear about a payroll tax deferral, you probably want to know the exact difference between payroll tax vs. income tax.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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MyIRSRelief

AUGUST 10, 2020

Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or other cities, business taxpayers, or individuals whom they deem should be responsible taxpayers, which is why it’s important to ensure that you resolve any payroll 941/940 tax problems sooner, rather than later, should they arise.

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Withum

JULY 28, 2023

Enacted on July 21, 2023, New Jersey A4694 creates a “Convenience of Employer” rule, affecting both employers and employees for payroll tax reporting purposes. This resulted in New Jersey losing significant tax revenue to New York’s rule. The grant applications must be filed on or before July 1, 2028.

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Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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Shay CPA

MAY 3, 2023

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. That’s because the credit could only be applied toward their income tax liability. More information on that here.

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RogerRossmeisl

APRIL 10, 2023

You can save family income and payroll taxes by putting your child on the payroll. Here are four tax advantages. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.

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Patriot Software

DECEMBER 5, 2022

You must withhold payroll taxes from employee wages and remit them to the proper agencies. Depending on the payroll tax, you must match employee contributions. But, not all payroll taxes are created equally. So, who pays payroll taxes? Is […] READ MORE.

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Patriot Software

MAY 19, 2021

One responsibility you have once you hire employees is withholding taxes from their paychecks. For accurate withholding, learn how to calculate payroll taxes. What are payroll taxes? When you think of payroll taxes, you might think of all […] READ MORE.

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Patriot Software

DECEMBER 7, 2022

How often you pay the IRS depends on your payroll tax deposit schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE. When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too.

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Patriot Software

JULY 13, 2022

There are a lot of things to keep track of as a business owner, with payroll taxes being one of them. The IRS requires you to withhold payroll taxes on your employees’ earnings and also contribute payroll taxes. This process can be complicated if you aren’t prepared.

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MyIRSRelief

AUGUST 1, 2023

However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Contact us for professional tax help today! However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

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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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CapataCPA

SEPTEMBER 1, 2020

Deferring Employee Payroll Taxes The U.S. Treasury and IRS have released the initial guidance, Notice 2020-25, to put into operation the President’s Executive Order, which allows employers to defer employee payroll taxes beginning on September 1, 2020. The employer is the “affected taxpayer” in this Executive Order.

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Patriot Software

AUGUST 3, 2022

Whether or not you want to admit it, payroll taxes should be one of your top concerns. Payroll taxes generally include Social Security and Medicare. But, many states have additional taxes that employers need to deduct from employee wages. California payroll tax […] READ MORE.

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RogerRossmeisl

NOVEMBER 29, 2021

The Employee Retention Tax Credit (ERTC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. The Infrastructure Investment and Jobs Act of 2021 (IIJA 2021), which was signed by President Biden on November 15, 2021, doesn’t have many tax provisions but this one is important for some businesses.

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Patriot Software

AUGUST 26, 2022

With each payroll, you and your employees have to pay taxes. You collect and remit the money, but what are payroll taxes used for? We’ve got a list of each employment tax you withhold and/or contribute and where the money goes. What does the government do with that money? If you’re curious, read on.

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RogerRossmeisl

JULY 14, 2021

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other non-tax benefits. A legitimate job If you hire your child, you get a business tax deduction for employee wage expenses. The post Hire Your Minor Children for Tax and Non-Tax Benefits appeared first on Roger Rossmeisl, CPA.

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Patriot Software

SEPTEMBER 23, 2020

When you have employees, you are responsible for paying them—but not before taking out some money for payroll taxes. The IRS, Social Security Administration (SSA), and state and locality (if applicable) all require payroll tax withholding. So, what is payroll tax withholding?

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Patriot Software

JULY 20, 2022

Payroll tax in Pennsylvania is notoriously difficult, confusing, and overwhelming for new and veteran employers alike. And when it comes to payroll, you probably don’t want to waste time making preventable payroll mistakes. And, we’ve provided plenty of […] READ MORE.

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MyIRSRelief

JANUARY 2, 2023

Types of IRS tax problems and how to resolve them. There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.),

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inDinero Tax Tips

MAY 21, 2021

Did you know your business could qualify for a ‘sweet’ tax credit. 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. What is the R&D Tax Credit?

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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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Patriot Software

DECEMBER 28, 2020

A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax? Attention Oregon employers! Specifically, attention employers in Eugene, Oregon.

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SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

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SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

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MyIRSRelief

JULY 12, 2021

Each year, many individual and business taxpayers end up owing the IRS hundreds of thousands of dollars due to not filing their taxes by the deadline or under paying them. Tax debt relief services offered by the IRS and state tax agencies such as FTB, EDD, CDTFA are: An installment agreement. Other Tax Debt Relief Services.

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CTP

MARCH 29, 2021

A government notice indicating that President Trump’s temporary payroll tax deferral will go into effect for federal employees sparked alarm from observers, who say the move may be illegal. The post Payroll Tax Deferral for Federal Employees Prompts Criticism appeared first on certifiedtaxcoach.

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RogerRossmeisl

SEPTEMBER 19, 2022

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. For example, the IRA contains a new 15% alternative minimum tax on large, profitable corporations. But there are also provisions that provide tax relief for small businesses.

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TaxConnex

MARCH 30, 2023

Everything old is new again – and that goes for ideas of a national sales tax. 25 of the 118th Congress, the GOP’s “Fair Tax Act of 2023,” is the latest attempt. The embattled bill, now in committee, was introduced early this year to replace the federal income tax. What’s in the bill? Is the idea bad? The bill won’t pass.

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Patriot Software

FEBRUARY 12, 2020

As an employer, you’re well aware of which payroll taxes are paid by employers. You know you’re responsible for contributing to things like FICA, SUTA, and FUTA taxes. But how familiar are you with employees’ payroll tax liabilities? The post Which Payroll Taxes Are the Employee’s Responsibility?

payroll tax 59

payroll tax payroll tax 59

Patriot Software

DECEMBER 14, 2022

Self-employed individuals must pay a unique payroll tax called self-employment tax. What is self-employment tax? In this article, you’ll find out everything you need to know about self-employment tax. Learn how much the tax is, how to calculate your tax liability, and more.

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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. And have noticed that taxes were withheld from their paychecks.

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RogerRossmeisl

MAY 15, 2023

If you’re among them, be careful that these workers are properly classified for federal tax purposes. The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one. If the IRS reclassifies them as employees, it can be an expensive mistake.

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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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RogerRossmeisl

MAY 17, 2021

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.

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