Posts Tagged payroll taxes
There is no question that running a small business today is tough. Every expense and additional small business taxes makes it harder to make a profit and stay in business.
But small business owners and entrepreneurs have one thing to be thankful for… most of them don’t have to pay luxury taxes. Now if you will stretch your imagination and consider Major League Baseball teams as businesses, I’d like to share a recent news bit. (more…)
Posted in: Payroll, Payroll Processing, Payroll Taxes
Leave a Comment (0) →Included in President Obama’s proposed 2015 fiscal year budget, there is a provision to accelerate the deadline for employers to deliver end-of-year W-2 tax forms to the federal government. The deadline for delivery of forms to employees is currently January 31st and then reported to the Social Security Administration (SSA) the last of February (March 31st for electronic filing) each year. What does it mean for employers if that reporting date is moved up to January 31 every year? (more…)
Posted in: IRS and Tax forms, News
Leave a Comment (0) →The IRS recently published data saying they handed out 6.8 million fines to U.S. employers as of the end of September, 2013, because of botched payroll taxes. According to an article in The New Entrepreneur, these penalties amounted to $4.5 billion that employers owed the government. (more…)
While her friend, Jasmin, poured her heart out to her, Olga sat quietly behind her desk. She was being a good friend by listening so intently. She was being an even better friend by biting her tongue instead of saying, “I told you so.” Jasmin began to sob as she explained that she was now in trouble with the IRS. (more…)
At one time or another, every small business owner begins to feel like a circus juggler. Before they call on The Payroll Department, they try to stay in the know about employee training and performance, customer service, production and cash flow. For those entrepreneurs who are just starting out, they find themselves serving as the office decorator, plumber and housekeeping crew. (more…)
Want to set up a payroll system but aren’t sure where to start? The Small Business Association offers some advice in the form of 10 steps to set up a payroll system. Check out an abbreviated summary of the recommended steps below or read the full article on the SBA website. (more…)
Have you experienced a confidential moment with an employee as he tearfully shares that his wife was recently diagnosed with cancer? And that he absolutely must take time off work to drive his wife to doctor appointments and chemotherapy treatments? That moment is terrible, isn’t it? (more…)
Posted in: News, Payroll, Payroll Processing, Payroll Taxes
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