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Posts Tagged payroll tax reporting

Civil Penalties for DOL Violations Increase January, 2017

In so many of our blogs we go on about the expense to small business owners when they don’t comply with reporting and deposit regulations when it comes to taxes and governmental reports and filings. It’s not because we want to scare you. It’s because we want you to see how quickly these penalties and interest can add up for one mistake – even if it is an inadvertent mistake. (more…)

Posted in: Operating a Small Business, Payroll, Rules, Regulations and Laws

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Retirement Benefits Come from Employment and Payroll

In today’s world where so many workers have lost their pensions, there is one employer who has remained steadfast in meeting their pension commitments – the United States government. As of an August, 2016 article in the USNews.com, there was still one beneficiary receiving benefits from a Civil War pensioner. (more…)

Posted in: IRS and Tax forms, Payroll, Payroll Processing

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Could You Handle Different State’s Payroll Taxes and Regulations?

I was really excited for a colleague who got a big contract that was going to expand his company this year. He was excited because his small business would no longer be just a local business, but would now be a business that worked nation-wide. We celebrated with a congratulatory lunch. It wasn’t but a couple of weeks later that he called and was obviously down. I was afraid he’d lost the deal. But no, he said it was worse – it was about payroll taxes. (more…)

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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So You think Handling Your Own Payroll is Easy?

As if payroll itself wasn’t complicated enough, there are IRS reporting deadlines and deposit schedules to comply with as well. And, to make things ever more interesting, it can change depending on how your payroll changes through the year. How can a small business owner keep up with it all? (more…)

Posted in: IRS and Tax forms, Payroll, Rules, Regulations and Laws

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5 of the Biggest Payroll Mistakes that Small Business Owners Make

Have you ever read something and found yourself shaking your head in agreement through the entire piece? Well, when I saw a slide presentation from Accounting Today about the payroll errors commonly made by small business owners, I had to agree. I personally have been given these reasons for why some of my clients make the decision to outsource their payroll to The Payroll Department! These are costly mistakes when the IRS or other governmental agency gets involved – I know lots of people who will agree with that. Don’t be caught out! (more…)

Posted in: Churches and Non-Profit Employers, IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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The Truth about Payroll Taxes

In the politically charged atmosphere during the couple of years preceding a presidential election, the topic of taxes – and payroll taxes in particular – takes center stage. It is payroll taxes that take a bite out of both employees’ paychecks and small business owners’ bottom lines. (more…)

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Tips and Service Charges: What’s the Difference?

Do you own a service industry small business, such as a restaurant, hair salon or hotel? Then it’s important as an employer that you understand your payroll responsibilities when it comes to calculating wages, employee reporting and tax requirements. One factor that affects your business’s payroll tax obligations is when your employees receive gratuities for their services. Do you know the rules? (more…)

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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It’s Just a Number, Right? Not to the IRS!

As an employer, whether you are a big or small business, you have the responsibility to hire employees who are authorized to work in the United States. One of the ways many employers ensure workers are legally able to work is by getting employees’ social security number. Easy, right? Well, not so much. Let me tell you a story from the offices of The Payroll Department. (more…)

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Special IRS Tip Rules for Large Food and Beverage Establishments

Do you own a food and beverage establishment? Maybe you think you have a small business, but you might be surprised to learn it’s actually large when it comes to the Internal Revenue Service and how you annually report your receipts and tips. (more…)

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Does One More Pay Period in a Year Make Any Difference?

When is 52 not the correct answer? That’s easy when you look at it from a payroll perspective …

Depending on the payroll schedule and the day of the week payroll is issued, you might actually have 53 payrolls in a year or 27 if you are on a bi-weekly payroll schedule. Because of that, there may need to be adjustments to the taxes being withheld. In addition, adjustment might be necessary to pretax deductions. (more…)

Posted in: Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes

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