Navigating Payroll Taxes: From W-2 Preparation to FUTA Reporting
Employers generally must withhold income tax from employees’ wages. To figure out how much tax to withhold, you need to use the employee’s Form W-4, the appropriate method, and the …
Save on Taxes and Protect Your Assets: When to Consider Changing Your Business Entity
As a business owner, it’s essential to understand how your legal structure affects your taxes and liability. Let’s break it down into simple terms. Business Entity Types If you’re a …
Minimum Wage Changes Impact You in 2023
For employers with employees in multiple states, keeping up with numerous minimum wage rate changes can be a daunting task. While some states are on a schedule for annual increases …
Strategies for Minimizing the Impact of the SALT Cap
In response to complaints about the Tax Cuts and Jobs Act of 2017 SALT cap, many states have authorized workarounds that allow a pass-through entity to pay state income taxes …
Independent Contractor: A New Definition?
Who counts as an employee versus an independent contractor may be about to change. A DOL proposal suggests revamping employee classification, reclassifying workers who are economically dependent on a company …
Watch Out for Fake ERC Plans
You may be aware of widely circulated promotions — ads on radio and the internet — touting refunds involving Employee Retention Credits. The IRS says these are a blatant attempt …