Repaying Deferred Payroll Taxes
IRS Notice 2020-65 allowed employers to defer withholding and payment of the employee’s Social Security taxes. This deferral applied to those with less than $4,000 in wages every two weeks, …
Balance Sheets and Property Profitability for Brokers
Owning a real estate business comes with a host of responsibilities, including understanding your balance sheet. A company’s balance sheet reports a company’s assets, its liabilities and shareholders’ equity at …
IRS Offers More Details on Relief Bill
The latest relief bill—the American Rescue Plan Act—is the size of a long novel, so it will take some time to get the full scope. The IRS has started to …
IRS Grants More Due Date Breaks
The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March …
Inventory Management: Key to a Lean Operation
Longer timelines are often a natural part of manufacturing anything. Unlike ready-made items or services, there are multiple steps — you may spend months sourcing raw materials. You have to …
The 6 Essential Payroll Tax Forms
If you run a business, you need to know about the following forms. Form W-2Employers must complete a Form W-2 for each employee. Employee wages, taxes withheld and other payroll …