Apr 19 How to Get Employee Info Correct
If you know in advance what common errors employers make with W-2s, maybe you can avoid those mistakes next year....
Apr 19 The Complex World of Trusts and Taxes
Establishing a trust is often a wise strategic decision, but at the same time, grantors should fully understand that income received via a trust is considered taxable income by the IRS....
Apr 09 Payroll Tax Rates and Contribution Limits for 2024
Here are federal payroll tax rates & benefits contribution limits for 2024. Check with the necessary agencies for state/local rates....
Apr 09 Business Valuation Checklist
Business owners should always operate from a position of strength. That’s why having at least a baseline business valuation is important....
Mar 21 Your Right To Appeal an IRS Decision
As an American taxpayer, you’re entitled to a fair and impartial administrative appeal of most IRS decisions. This includes many IRS-related penalties. Essentially, it is within your rights to expect and receive a written response regarding the decision from the IRS Independent Office of Appeals....
Mar 21 Watch Out for Form W-2 Pitfalls
At the end of every year, most businesses go through the process of filling out a Form W-2 for each employee, which can make for a very stressful time. The pressure of knowing that even the smallest of mistakes can result in costly consequences can...
Mar 08 What’s the Story on Nonprofit and Tax-Exempt Entities?
Have you ever wondered how you’re supposed to determine whether your organization is eligible for exemption from federal income tax? The possibility of being tax-exempt is permitted under section 501(a) of the Internal Revenue Code....
Mar 08 Is This Your Situation: You’re Worried About Recordkeeping at Your Manufacturing Company
When it comes to recordkeeping, manufacturing companies have a lot to contend with, such as accounting rules, making claims, tracking expenses for tax deductions, and maintaining viable employee records....
Feb 26 Tips On Small-Business Payroll
As a good rule of thumb, select a payroll process that doesn't require an advanced degree to implement. Refer to your provider and determine whether there is a self-service employee portal. That way, it's simple to view all paystubs and end-of-year tax forms when the...
Feb 26 What To Know About Business Tax Records
Your record keeping system should include a summary of every transaction that takes place in your business' name. Make sure you maintain and update a summary of all business transactions....