MyIRSRelief

AUGUST 1, 2022

According to the most up-to-date US Tax Code, all US-based business employers are required to file employment 941 / 940 Payroll Tax forms with the IRS every quarter and year-end at a prescribed date. These tax professionals can be your best friend when it comes to dealing directly with the IRS.

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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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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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payroll tax payroll audit Tax 147

Patriot Software

APRIL 6, 2022

Employers juggle many responsibilities, including calculating and withholding payroll taxes and other deductions. But, what exactly does payroll taxes include? If you’re wondering about understanding payroll taxes, never fear—your payroll taxes breakdown is here. What are payroll taxes?

payroll tax 98

payroll tax payroll Tax 98

MyIRSRelief

JANUARY 3, 2025

Understanding and managing payroll taxes, particularly through Form 941, is a critical but often misunderstood part of running a business. This form, which employers must file quarterly, reports withheld income taxes, as well as Social Security and Medicare taxes for employees.

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payroll tax payroll Tax income tax 130

MyIRSRelief

MAY 19, 2023

With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems.

New York 147

New York payroll tax payroll audit 147

Patriot Software

OCTOBER 12, 2022

When it comes to payroll taxes, for-profit businesses have it pretty straightforward. For-profits pay payroll taxes. Do nonprofits pay payroll taxes? Do nonprofits pay payroll taxes? Payroll taxes are amounts withheld from your employees’ wages and paid to […] READ MORE.

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payroll tax payroll Tax 97

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. By Nellie Akalp. for both employees and employers.

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Patriot Software

AUGUST 9, 2021

In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.

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payroll tax payroll Tax 111

SkagitCountyTaxServices

MARCH 26, 2025

Today, I want to bring up another area that is a source of chaos for a lot of Skagit County business owners (that actually has a very simple fix) How to Choose the Right Payroll Software For Your Skagit County Small Business If it aint broke, dont fix it is the slogan of the complacent, the arrogant or the scared.

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CPA Practice

OCTOBER 27, 2023

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. Two options to electronically file payroll tax returns The first option for employers is to self-file by purchasing IRS-approved software that meets their specific needs. This includes the Oct.

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Patriot Software

AUGUST 29, 2022

Collecting, reporting, and remitting payroll taxes are some of your key responsibilities when you have employees. And if you forget or downright neglect your responsibility, your small business could receive a penalty for not paying payroll taxes.

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payroll tax payroll Tax 21

Accounting Today

APRIL 16, 2024

A CPA's embezzlement turns out to be no excuse for trust fund recovery penalties.

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payroll tax payroll Tax CPA 128

MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government.

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payroll payroll tax Tax income tax 140

Patriot Software

JULY 13, 2022

There are a lot of things to keep track of as a business owner, with payroll taxes being one of them. The IRS requires you to withhold payroll taxes on your employees’ earnings and also contribute payroll taxes. This process can be complicated if you aren’t prepared.

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payroll tax payroll Tax 98

CPA Practice

AUGUST 17, 2023

A New Jersey business owner faces a federal prison sentence after failing to pay more than $10 million in payroll taxes. Josef Neuman, 37, of Lakewood, pleaded guilty to willful failure to pay over payroll taxes, the U.S. In all, he defrauded the government of $10,884,373 in payroll taxes in 2017 and 2018.

New Jersey 98

New Jersey payroll tax payroll Tax 98

RogerRossmeisl

JULY 15, 2024

Benefits for your child There are special tax breaks for hiring your offspring if you operate your business as one of the following: A sole proprietorship, A partnership owned by both spouses, A single-member LLC that’s treated as a sole proprietorship for tax purposes, or An LLC that’s treated as a partnership owned by both spouses.

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payroll tax payroll CPA Tax 264

Patriot Software

AUGUST 3, 2022

Whether or not you want to admit it, payroll taxes should be one of your top concerns. Payroll taxes generally include Social Security and Medicare. But, many states have additional taxes that employers need to deduct from employee wages. California payroll tax […] READ MORE.

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payroll tax payroll California Tax 98

Patriot Software

DECEMBER 7, 2022

How often you pay the IRS depends on your payroll tax deposit schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE. When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too.

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payroll tax payroll Tax 97

Patriot Software

AUGUST 26, 2022

With each payroll, you and your employees have to pay taxes. You collect and remit the money, but what are payroll taxes used for? We’ve got a list of each employment tax you withhold and/or contribute and where the money goes. What does the government do with that money? If you’re curious, read on.

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payroll tax payroll Tax Government 98

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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payroll tax payroll Rhode Island South Dakota 98

inDinero Tax Tips

OCTOBER 22, 2024

This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate. If you have employees, you also file a Form 941 , which reports payroll tax withheld on their behalf.

Nevada 105

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Patriot Software

JULY 20, 2022

Payroll tax in Pennsylvania is notoriously difficult, confusing, and overwhelming for new and veteran employers alike. And when it comes to payroll, you probably don’t want to waste time making preventable payroll mistakes. And, we’ve provided plenty of […] READ MORE.

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Pennsylvania payroll tax payroll Tax 97

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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SMBAccountant

NOVEMBER 17, 2021

Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. This typically happens in at least 2 withdrawals; net pay and payroll taxes. From a cursory look, it would seem simple.

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payroll payroll tax income tax Expense Reimbursements 130

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. Here are four tax advantages. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.

Tax 245

Tax payroll tax payroll CPA 245

RogerRossmeisl

NOVEMBER 16, 2021

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. Employers don’t have to pay payroll taxes on HSA contributions made by employees through payroll deductions. Eligibility rules To be.

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CPA Practice

OCTOBER 28, 2024

File a Final Tax Return When dissolving a business, one of the key steps is filing the last federal, state and local tax returns. Any outstanding tax obligations must be paid. If applicable, final payroll tax returns must also be filed and payroll accounts closed, as well as any sales tax.

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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

It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes. 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.

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payroll tax payroll CPA Tax 246

Patriot Software

AUGUST 31, 2022

If you want to pay an employee supplemental compensation, such as a bonus or a relocation payment, you must withhold payroll taxes just like with regular wages. But, what if you want an employee to receive a specific amount after taxes? That is when you gross-up payroll figures.

payroll 116

payroll payroll tax Tax 116

RogerRossmeisl

MAY 15, 2023

The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one. 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.

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payroll tax CPA payroll Tax 237

Accounting Today

JULY 27, 2022

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payroll tax payroll Tax 119

Patriot Software

AUGUST 8, 2024

Instead of manually calculating gross pay, payroll taxes and deductions, and net pay, you might opt for payroll software. With the right software, you can run payroll in minutes—not hours—each pay period. But what kind of payroll features do you need to maximize your time savings […] Read More

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payroll payroll tax Tax 104

Insightful Accountant

AUGUST 18, 2024

By late September or early October, QuickBooks Online Payroll users will begin having their payroll taxes debited with each payroll rather than at the end of a tax period.

quickbooks 98

quickbooks payroll payroll tax Tax 98

RogerRossmeisl

MAY 17, 2021

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.

Tax 189

Tax payroll tax payroll CPA 189