Nov 12, 2019 | Firm Updates, Small Business, Tax Tips
One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. If you willfully fail to do...
Oct 8, 2019 | Firm Updates, Small Business, Tax Tips
As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA...
Sep 16, 2019 | Firm Updates, Small Business
A going concern is a company that has substantial doubt that it will be able to meet its financial obligations within one year after the date its financial statements are issued. A company that is not a going concern, therefore, has the resources needed to continue...
Sep 10, 2019 | Firm Updates, Individual Tax, Small Business
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
Sep 3, 2019 | Firm Updates, Individual Tax, Small Business, Tax Tips
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16....
Jul 16, 2019 | Firm Updates, Small Business
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time....
