IRS 940/941 Information

Four Potential Payroll Management Issues for Small Businesses

Four Potential Payroll Management Issues for Small Businesses

Payroll troubles can be real headaches for small business owners. There are a number of potential problems that can be easily avoided, if you know what to watch out for. Questions about the Healthcare Law and Medicare changes The Patient Protection and Affordable Care Act of 2010 […]

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Five Things about the Payroll Tax Cut Extension

Five Things about the Payroll Tax Cut Extension

Good grief. What a mess. Just hours before the Christmas holiday weekend, Congress reached agreement on a two month (that’s right!) extension of the temporary payroll tax cut enacted for the 2011 tax year. The deal keeps the rate at 4.2%, instead of reverting to the 6.2% […]

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Say “so long” to your IRS federal tax deposit coupons and manual deposits at your bank!

Say “so long” to your IRS federal tax deposit coupons and manual deposits at your bank!

Today, we got a notification from the IRS announcing a regulatory change eliminating Forms 8109/8109B for making federal tax deposits. Effective January 1, 2011, you are no longer be able to make your tax deposit manually at your local bank. I have blogged previously that it is […]

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Find valuable information about payroll taxes – 940 payments, 941 payments and more – that business owners and managers need to know.

Find valuable information about payroll taxes – 940 payments, 941 payments and more – that business owners and managers need to know.

Payroll taxes – 940 payments, 941 payments and more First, it makes sense to clarify where the money comes from to make 940 and 941 tax payments. In fact, these payroll tax obligations are made up of two different revenue streams: The first stream consists of monies […]

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Important tax news: payroll tax penalties and interest are real, and very difficult to get waived.

Important tax news: payroll tax penalties and interest are real, and very difficult to get waived.

So you have a problem with your payroll taxes. You got the letter – “Urgent!! We intend to levy on certain assets. Please respond NOW.” What you do next may make the difference between your business surviving or folding. The IRS has a really big gun and […]

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Discover two more tips – #3 and #4 out of five – about payroll taxes that will help you to protect your business.

Discover two more tips - #3 and #4 out of five - about payroll taxes that will help you to protect your business.

First, discover the importance of paying payroll taxes on time – and the tax news that you need to know about the 1099 independent contractor trap! Then, here are two more important tips: 1. Late payments are killers of your net profit margin. Imagine that you were […]

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Number 2 of five things you need to know about the IRS and payroll taxes to protect your business: avoid the 1099 independent contractor trap.

Number 2 of five things you need to know about the IRS and payroll taxes to protect your business: avoid the 1099 independent contractor trap.

Many companies try to avoid the time and expenses involved in withholding payroll taxes and paying the employer match by hiring their workers as 1099 independent contractors. I have seen this strategy attempted many times and, although it can be an attractive idea, it can also be […]

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Five things you need to know about the IRS and payroll taxes to protect your business

Five things you need to know about the IRS and payroll taxes to protect your business

We have all heard the cautionary tales about companies and their ownership running afoul of the IRS. The IRS is charged with the task of collecting taxes from individuals and businesses in the United States and the most famous tax day in the US is April 15 […]

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Consult your accountant about 2006 tax breaks and then talk to your receivables factoring company to make them a reality.

Consult your accountant about 2006 tax breaks and then talk to your receivables factoring company to make them a reality.

We are nearing the holiday season, which signals end of the year tax planning time. I am no accountant, but I do know questions you can ask yours – and I definitely can advise you on how invoice factoring can assist you in taking advantage of the […]

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