by | Feb 15, 2011 | Accounting & Bookkeeping, Cost Cutting, Current Affairs, Income Taxes, Tax Tip of The Week, Web/Tech, Weblogs
One of the best websites out there for tax information is the IRS site which is located at www.irs.gov. This is a surprisingly well setup site that has tons of information and resources. One of the best is the IRS Tax Tip. Just click on the link above to get to the...
by | Feb 7, 2011 | Accounting & Bookkeeping, Current Affairs, Income Taxes, Small Business Owners, Tax Tip of The Week
Many S-Corporation owners take little or no salary so they can take out their profits as a dividend, which are not subject to the 15.3% self employment tax. The IRS has stepped up their audit of these plans and has been winning in the courts. In a recent case, a CPA...
by | Jan 29, 2011 | Accounting & Bookkeeping, Books, Current Affairs, Income Taxes, Small Business Owners, Tax Tip of The Week
All employers that have employees or contract workers are required by law to give their employees and/or laborers their Form W-2 or 1099 by January 31, 2011. This can be done either in person or by mail. If you are unable to reach an employee, you must mail their form...
by | Jan 21, 2011 | Accounting & Bookkeeping, Current Affairs, Income Taxes, Small Business Owners, Tax Tip of The Week
The rocketing federal deficits have spurred congress to make another effort to force the underground cash basis economy to file returns and pay their tax. Their solution – larger penalties for taxpayers who fail to file 1099s. As a general rule, businesses...
by | Jan 13, 2011 | Accounting & Bookkeeping, Current Affairs, Income Taxes, Tax Tip of The Week
Payroll Tax Cut to Boost Take-Home Pay for Most Workers Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provides a two percentage point payroll tax cut for...
by | Jan 6, 2011 | Accounting & Bookkeeping, Cost Cutting, Current Affairs, Income Taxes, Tax Tip of The Week
The IRS has announced that due to the tax law changes enacted by Congress and signed by President Obama in late December some tax filers will need to wait until mid-to late February to file their tax returns in order to give the IRS time to reprogram its processing...
