Summary: The IRS wants to help small businesses understand and meet their tax responsibilities. Click through for helpful hints on finding resources, staying on track with deadlines, ensuring you make payments on schedule, and gaining access to tax forms and e-learning resources.The small business pages on IRS.gov serve as comprehensive guides for people looking to […]
Summary: Recent legal changes have upped the ante for employers when it comes to accurately and timely preparing wage and tax statements for W-2 forms. Click through to learn how you can correct W-2s by determining which errors must be corrected as well as how to avoid penalties.In addition to regular paychecks, employees receive another […]
Summary: Small Business Administration loans can help cover startup costs, working capital needs, expansions and real estate purchases. The financing is issued by a private lender but is backed by the federal government. Click through to review the various loans that are available as well as the terms and conditions that apply. When you want to […]
Recordkeeping is arguably the backbone of any efficient payroll management system. For instance, the smallest of numerical mismatches result in major and subsequent errors, including misclassifications, payment delays and improper tax filings. Click through to understand how you can be more organized and avoid costly audit penalties as a result.An unorganized and inefficient payroll process […]
A location-independent lifestyle encourages people to live and work anywhere in the world as long as they can simultaneously manage their professional responsibilities. It’s ideal for many people in numerous ways. But what is it like on a practical level to live a life like that? Click through to gain insight into what being a […]
Did you know that state and local tax issues are a major aspect of a company’s tax liability? Similarly, so is economic nexus. Click here to read more about the top three tax-related issues that businesses should understand.State and local tax issues are a big part of a company’s tax liability. In fact, they are […]
How QCDs workHowever, IRA owners who are aged 70-1/2 and older can transfer up to $100,000 tax-free to one or more charities each year through QCDs. This provides a way for eligible older Americans to donate to charity before the end of the year and can be counted toward their RMD for the year if […]
Paying bills is never fun, but paying bills you shouldn’t pay in the first place is even worse. There are many risks that can part a small business owner with their hard-earned cash, and here are five to watch out for when it comes to your bill-paying process. 1. Fraudulent invoices Some companies will send […]
A great way to make a wonderful start to 2020 is to wrap up 2019 feeling organized and on top of the world. Here’s a checklist of items that you can start on now to make your year-end close go smoother than ever before. And don’t worry if you don’t know how to do some […]
Custom fields in your accounting software are data fields that you can define yourself. They are typically associated with customers, vendors, employees, and items, and they can help you store and categorize additional information about these stakeholders and your products and services in your business. An example custom field that can be associated with customers […]
