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The Benefits of Outsourcing Bookkeeping for Small Business Growth

MyIRSRelief

The Benefits of Outsourcing Bookkeeping for Small Business Growth Outsourcing bookkeeping has become a game-changer for small businesses looking to streamline operations, cut costs, and focus more on growth. This expertise can be especially valuable during tax season or audits, where precision is critical.

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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Commingling Funds: How to Address the Problem and Avoid It in the Future

inDinero Tax Tips

Indinero’s online bookkeeping services are here to help with this tedious task. A Loan From the Company to You Fringe benefits may be the easiest way to deal with commingled funds, but they come with a significant drawback: The spending will now be counted as income, subject to income and payroll tax.

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What do I need for my PPP application?

xendoo

If you are self-employed, the fastest way to get your net profit is by getting catch-up bookkeeping done for 2019, including January and February of this year. By receiving catch-up bookkeeping services, your bookkeeper will provide you with an annual income statement that includes your net profit. We are happy to help.

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How Do I Pay Myself and My Taxes as a Partnership?

xendoo

They also report this information on their individual tax return (Form 1040), with a Schedule E attached. The owner’s draw is not subject to payroll taxes, but it is considered personal income and is taxed accordingly. Even with a significant tax advantage, taxes can still be stressful.

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5 REASONS BUSINESSES CHOOSE OUTSOURCED BOOKKEEPING

Basis 365

Outsourcing eliminates the need to hire an in-house employee and saves money on salary, payroll taxes, and employee benefits. Outsourced bookkeeping provides you with tailored solutions to meet your needs. Scalability Outsourced bookkeeping can be scaled up or down according to your business needs.