Every employer engaged in a trade or business who pays remuneration, including noncash payments of $600 or more for the year (all amounts if any income, social security, or Medicare tax was withheld) for services performed by an employee must file a Form W-2 for each employee (even if the employee is related to the […]
Taxpayers can take the following actions this fall to get ready for the upcoming tax filing season. Steps taxpayers can take now to make tax filing easier in 2021 Taxpayers should gather Forms W-2, Wage and Tax Statement, Forms 1099-Misc, Miscellaneous Income, and other income documents to help determine if they’re eligible for deductions or […]
The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. There are two ways to pay as you go, either by employer withholding or estimated tax payments. Employer withholding: If you are an employee, your employer generally withholds income tax from your pay. […]
Let’s be honest—most payroll companies seem like they’re doing the same thing. That’s why it’s SUPER overwhelming to figure out which company to go with. Beyond looking at the basic features and price tag, what else makes a payroll service stand out? Let’s walk through the four most important things to ask yourself when choosing […]
Is a Tax Time Bomb Lurking in Your Paycheck? Does your paycheck look a little higher than normal? If so, it could be a tax time bomb. The Problem A payroll tax deferral beginning September 1 was recently signed via a presidential executive order. This deferral of the employee’s portion of Social Security will raise […]
