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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. LB15 would establish a youth minimum wage as well as a training wage rate. New Hampshire.

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Why More Small Businesses Owners Are Offering 401(k) Plans to Employees

CPA Practice

More small businesses across the country are taking advantage of new tax credits to offer 401(k) programs , according to a report from the Wall Street Journal. The new tax credits are widely available now thanks to the Setting Every Community Up for Retirement Enhancement (Secure) Act , which went into effect on Dec.

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Payroll Software Buyer’s Guide

CPA Practice

If you’re thinking about offering payroll services or switching from your current payroll software, this guide can help you decide if it’s time for a change. It will also highlight the essential features your new payroll solution should have. Required) When are you considering a payroll software platform change?

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

Contact us for professional tax help today! During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Understanding ERC IRS Audits 1.1 What is an ERC IRS Audit? ERC IRS Audit Process 2.1 What Happens During an ERC Audit?

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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

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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The Benefits of Delayed Business Filings

CPA Practice

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

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The IRS Is Trying to Get ERC Employers to Tell on Themselves Again

Going Concern

Even we got emails from these people promising huge payoffs if our business applied for ERC credits, credits that these non-CPA hawkers of tax credits swore were basically free money. They can’t claim ERC on wages they reported as payroll costs to get PPP loan forgiveness.

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