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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Shay CPA

MARCH 6, 2024

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. More information on that here.

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CPA Practice

AUGUST 17, 2023

A New Jersey business owner faces a federal prison sentence after failing to pay more than $10 million in payroll taxes. Josef Neuman, 37, of Lakewood, pleaded guilty to willful failure to pay over payroll taxes, the U.S. In all, he defrauded the government of $10,884,373 in payroll taxes in 2017 and 2018.

New Jersey 98

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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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CPA Practice

MARCH 18, 2024

Taylor, Kiplinger Consumer News Service (TNS) There’s another new tax in the state of Washington. The state’s Supreme Court recently upheld a controversial capital gains tax , which has been re-challenged in court and could be on the state’s ballot in November for potential repeal. Is long-term care insurance tax deductible?

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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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Accounting Today

APRIL 16, 2024

A CPA's embezzlement turns out to be no excuse for trust fund recovery penalties.

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CPA Practice

APRIL 22, 2024

Tax Blotter 042224 Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes. Although he wasn’t involved with payroll, he had check-signing authority over one bank account used solely to buy parts for the business. Not my job.

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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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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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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. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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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 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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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

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

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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Patriot Software

AUGUST 9, 2021

In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.

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payroll tax payroll Tax 111

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. More information on that here.

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payroll tax payroll Tax tax return 52

MyIRSRelief

MARCH 29, 2024

In the bustling city of Whittier, California, businesses face a myriad of tax-related challenges that can significantly impact their operations and financial health. From business tax preparation to dealing with unpaid back taxes and navigating complex audits, the tax landscape can be daunting.

California 130

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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

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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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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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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MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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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

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.

Pennsylvania 76

Pennsylvania payroll tax payroll Tax 76

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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RogerRossmeisl

DECEMBER 31, 2023

It’s a good time to review the tax rules associated with these expenses. Are they tax deductible by your business and is the value taxable to the recipients? The post Giving Gifts and Throwing Parties Can Help Show Gratitude and Provide Tax Breaks appeared first on Roger Rossmeisl, CPA.

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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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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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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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MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable.

California 130

California Tax tax return payroll 130

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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MyIRSRelief

DECEMBER 29, 2023

Employment taxes can be a complex area for businesses, especially when it comes to Form 941, the Employer’s Quarterly Federal Tax Return. This form is used to report income taxes, social security tax, or Medicare tax withheld from employee’s paychecks, and to pay the employer’s portion of social security or Medicare tax.

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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. 190 would be withdrawn for taxes.

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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

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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