Archive for the ‘Payroll Tax’ Category

• The 2021 Social Security Wage Base Is Increasing

  • October 22nd, 2020
  • Posted in Payroll Tax, Social Security, Tax, Tax Planning, Uncategorized

  If your business is planning for payroll next year, be aware that the Social Security wage base is increasing.Read More

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• Offer FSAs to Employees? You May Need to Act Before Year End

  • October 7th, 2020
  • Posted in Business, CARES Act, COVID-19 Resourcecs, Employee Benefits, Payroll Tax, Recordkeeping, Tax, Tax Planning

  If you offer employees FSAs, it’s important to keep abreast of the latest changes, including those made by the CARES Act.Read More

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• Take Aim at Tax Credit for Hiring Target Workers: WOTC

  • October 7th, 2020
  • Posted in Business, COVID-19 Resourcecs, Manufacturing & Distribution, Payroll Tax, Tax, Tax Planning

  If your business is actively recruiting, consider certain “target” groups that could qualify for the Work Opportunity Tax Credit (WOTC)Read More

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• Avoid Personal Liability for Unpaid Federal Payroll Taxes

  • September 21st, 2020
  • Posted in Accounting, Audit, COVID-19 Resourcecs, Financial Reporting, Payroll Tax, Tax, Tax Planning

  Though cash may be tight, employers should avoid the temptation to skimp on federal taxes that have been withheld from employees’ paychecks.Read More

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• Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes

  • September 8th, 2020
  • Posted in Accounting, Business, COVID-19 Resourcecs, Payroll Tax, Social Security, Tax, Tax Planning

  The IRS has issued guidance to implement the deferral of the employee share of Social Security tax, but employers still have questions and concerns,Read More

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• The President’s Action to Defer Payroll Taxes: What Does It Mean for Your Business?

  • August 17th, 2020
  • Posted in COVID-19 Resourcecs, Payroll Tax, Social Security, Tax

  The President has taken executive action to defer the employee portion of some workers’ Social Security taxes. Here’s a look at the issue.Read More

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• Businesses: Get Ready for the New Form 1099-NEC

  • July 16th, 2020
  • Posted in Accounting Standards, Financial Reporting, Payroll Tax, Tax

  A tax form that used to be filed back in the 1980s is coming back for 2020: Form 1099-NEC. Here’s what businesses need to know.Read More

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• Steer Clear of the Trust Fund Recovery Penalty

  • July 13th, 2020
  • Posted in Accounting, Payroll Tax, Social Security, Tax

  The “Trust Fund Recovery Penalty” is among the more dangerous tax penalties facing business owners and managers with employees. Here’s why.Read More

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