RogerRossmeisl

OCTOBER 27, 2024

If your business has employees, you may need to budget for additional payroll costs, especially if you have many high earners. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024).

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Hospitality payroll CPA Tax 263

ThomsonReuters

MARCH 26, 2025

Businesses continue to face serious cyber threats that target payroll and tax information. As scams become more common, it is important for companies to protect sensitive data and stay compliant with regulations to better secure their payroll processes and reduce risks.

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Reckon

NOVEMBER 5, 2024

Holiday payroll checklist Having a game plan for the holidays ensures you are on the same page as your employees and ready to trade. Breaking down your payroll into parts will help you focus and tackle your holiday budget. Breaking down your payroll into parts will help you focus and tackle your holiday budget.

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BurklandAssociates

JUNE 4, 2024

Effective payroll management ensures compliance, enhances employee satisfaction, and provides a strong foundation for sustainable growth. The post Good Payroll Practices are Essential for Growing Startups appeared first on Burkland.

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RogerRossmeisl

MARCH 5, 2024

The credit can be used by certain smaller startup businesses against their Social Security payroll and Medicare tax liability. The post Better Tax Break When Applying the Research Credit Against Payroll Taxes appeared first on Roger Rossmeisl, CPA. Let’s take a look at the second feature.

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payroll tax payroll Tax CPA 173

BurklandAssociates

FEBRUARY 11, 2025

Avoid payroll pitfallslearn the essential taxes every startup must pay and how to stay compliant with IRS and state regulations. The post Payroll Taxes for Startups: What Do I Have to Pay? appeared first on Burkland.

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Accounting Today

JUNE 14, 2024

If you have clients with employees in more than one state, they must pay attention to the payroll-related rules and tax responsibilities in the states where those staff live and work.

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Xero

DECEMBER 10, 2024

Payroll year-end can be a busy time for businesses as they navigate deadlines, submission dates, and HMRC rules. Learn the essentials of payroll end-of-year submission, including common challenges and ways to tackle them. What is HMRC payroll year end? Payroll year-end sees a business wrap up the tax year for payroll purposes.

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MyIRSRelief

NOVEMBER 1, 2024

However, they must pay themselves a reasonable salary, which is subject to payroll taxes. Payroll Taxes S Corporations with employees must file payroll tax returns, including Form 941 (Employer’s Quarterly Federal Tax Return) and Form 940 (Employer’s Annual Federal Unemployment Tax Return).

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CPA Practice

NOVEMBER 18, 2024

ET) Host: Patriot Software, accounting and payroll software for businesses and accountants Duration: 1 hour Description: Get organized now for a hassle-free year-end with Patriot Software’s Training Director, Annie Hambach. Receive 1 hour of free CPE credit for participating in this live webinar Date: December 4, 2024 Time: 2:00 p.m. (ET)

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MyIRSRelief

OCTOBER 11, 2024

This article will delve into the various tax services offered by Enrolled Agents, including personal tax preparation, business tax preparation, personal tax planning, business tax planning, IRS and state tax audit representation, back tax help and resolution, and 941 payroll tax problem resolution.

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CPA Practice

AUGUST 9, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review CYMA Payroll , a system designed for providers offering volume payroll processing and unique markets that process complex payroll. Well, I want to talk to you today about an accounting software product called Saima Cy MA and their payroll system.

payroll 119

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MyIRSRelief

JANUARY 3, 2025

Understanding and managing payroll taxes, particularly through Form 941, is a critical but often misunderstood part of running a business. Trust Fund Recovery Penalty: This penalty can hold individuals responsible for unpaid payroll taxes personally liable. The accumulated penalties seemed insurmountable.

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Accounting Today

DECEMBER 12, 2024

Zoho announced the US release of its end-to-end payroll solution, Zoho Payroll, on top of enhancements to its existing suite of finance products, which include Zoho Books, Zoho Inventory, and Zoho Practice.

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ThomsonReuters

JANUARY 30, 2025

Miguel Lopez, a shareholder at Littler Mendelson and an expert in employment law, shared his insights on the Act with Thomson Reuters’ Checkpoint Payroll Update a couple of weeks before the start of New York Fashion Week 2025 on February 13.

New York 88

New York payroll Legal accounting and finance 88

RogerRossmeisl

AUGUST 9, 2021

Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. For example, paying under-the-table cash wages to avoid paying payroll taxes could result in criminal charges and significant penalties. These can lead to legal liability and fines.

Construction 245

Construction payroll tax payroll Legal 245

RogerRossmeisl

APRIL 10, 2023

You can save family income and payroll taxes by putting your child on the payroll. Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. It’s a win-win! Here are four tax advantages.

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Tax payroll tax payroll CPA 245

RogerRossmeisl

NOVEMBER 8, 2023

Construction Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. To prevent payroll fraud, have someone independent of your accounting department verify the names and pay rates on your.

Real Estate 241

Real Estate Construction payroll Transportation 241

RogerRossmeisl

NOVEMBER 16, 2021

Employers don’t have to pay payroll taxes on HSA contributions made by employees through payroll deductions. Earnings on the funds in an HSA aren’t taxed, so the money can accumulate tax free year after year. Distributions from HSAs to cover qualified medical expenses aren’t taxed. Eligibility rules To be.

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RogerRossmeisl

JULY 15, 2024

The children’s wages then will be exempt from the following federal payroll taxes: Social Security tax, Medicare tax, and Federal unemployment (FUTA). These entities can hire an owner’s under-age-18 children as full- or part-time employees.

payroll tax 264

payroll tax payroll CPA Tax 264

RogerRossmeisl

JULY 17, 2024

They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. July 15 Employers should deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. July 31 Report income tax withholding and FICA taxes for second quarter 2024 (Form 941) and pay any tax due.

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income tax Tax payroll CPA 264

CPA Practice

OCTOBER 28, 2024

If applicable, final payroll tax returns must also be filed and payroll accounts closed, as well as any sales tax. She is the CEO of CorpNet.com , the smartest way to start a business, register for payroll taxes, and maintain business compliance across the United States. Any outstanding tax obligations must be paid.

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inDinero Tax Tips

OCTOBER 22, 2024

In this article, we’ll cover everything you need to know about Nevada LLC taxes, from pass-through treatment to self-employment, sales, and payroll taxes. If you have employees, you also file a Form 941 , which reports payroll tax withheld on their behalf. This is Nevada’s version of payroll tax.

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Nevada Tax income tax payroll tax 105

CPA Practice

MARCH 25, 2025

can now connect directly to an extensive network of payroll providers through Payroll Integrations to automatically collect and standardize payroll and employee census data in real time. TPAs using Stax.ai

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RogerRossmeisl

JANUARY 25, 2021

Taxpayers could apply to have the loans forgiven to the extent their proceeds were used to maintain payroll during the COVID-19 pandemic and to cover certain other expenses. The law established the PPP, which provided up to 24 weeks of cash-flow assistance through 100% federally guaranteed loans to eligible recipients.

Tax 246

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RogerRossmeisl

AUGUST 9, 2022

For example, a colluding manager might override controls to allow another employee to commit expense reimbursement or payroll fraud. Colluding thieves usually either ignore internal controls or take steps to hide noncompliance. The post 5 Ways to Stop Employees from Colluding in Fraud appeared first on Roger Rossmeisl, CPA.

Expense Reimbursements 246

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RogerRossmeisl

JULY 14, 2021

And you may be able to: Shift your high-taxed income into tax-free or low-taxed income, Realize payroll tax savings (depending on the child’s age and how your business is organized), and Enable retirement plan contributions for the children.

Tax 246

Tax income tax payroll tax payroll 246

RogerRossmeisl

JUNE 10, 2021

If a worker is an employee, your company must withhold federal income and payroll taxes, pay the employer’s share of FICA taxes on the wages, plus FUTA tax. It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes.

payroll tax 246

payroll tax payroll CPA Tax 246

RogerRossmeisl

FEBRUARY 5, 2023

While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 and 2021. The Employee Retention Tax Credit (ERTC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic.

payroll 238

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RogerRossmeisl

MAY 15, 2023

If a worker is an employee, your company must withhold federal income and payroll taxes and pay the employer’s share of FICA taxes on the wages, plus FUTA tax. The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one.

payroll tax 237

payroll tax CPA payroll Tax 237