Increasing your income is good. But even if you can’t, you can still take steps to collect the money you’re already owed faster. Here are five. If you asked five small business owners to name the top three roadblocks they face in their quest for ongoing profitability, it’s likely that all five would point to [...]
The smartest business decisions result from customizing and creating frequent reports in QuickBooks Online. Day after day, you build your company file in QuickBooks Online. You create invoices and purchase orders. Record payments and complete contact and item records. Process payroll and submit payroll taxes. Receive inventory and pay bills and nurture relationships with customers [...]
Here’s an overview of the home page and what you can access from there. Many companies have been hesitant to trust their financial data – and that of their customers and vendors – to the internet, despite the fact that solution providers have built sophisticated security systems for this critical information. But you’ve decided that [...]
Here is a list to help with December year-end payroll planning: The IRS website should be checked to ensure most recent forms are used. Download and Install all software updates for in-house payroll processing They are coming regularly! So don't assume you have already "done this one" Confirm year-end deadlines and final 2013 federal/state deposit dates. [...]
For small firms, whether or not workers are employees or ICs is more important than ever. It determines if a firm can participate in the Small Business Health Option Program exchanges, 125 plans, take a small busines health care tax credit, report health care costs, etc. Prepare for greater IRS focus on worker clasification and [...]
Year-end Tips for Payroll Managers Verify your 2014 deposit schedule Send 2013 W-4's to employees Review your vendor files. Send Form W-9 to vendors without a Taxpayer Id Number (TIN). Remind emplyess to inform you of any changes to their address, beneficiaries, pretax deductions, and direct deposits. Research outstanding checks older than 30 days. Remind employees that [...]
The IRS has not confirmed it yet, but we can expect a rise in tax audits. The targeted returns are 1099's with missing taxpayer id numbers (TINs) or name/TINs that don't match. Another area that flags the IRS are unreported tips on W-2's. Because of budget cuts, audits will most likely come by mail and not [...]
Small Business Health Options Program, or SHOPs, is available for small employers to purchase health insurance for their employees. October 1, is open enrollment. California is state-based as opposed to federally operated. The website to be used by small businesses in California is http://www.coveredca.com/ A Small Employer is defined as one who has 100 or less employees or had [...]
The IRS has created a new Affordable Care Act website for business and individuals. You will find it at www.irs.gov/aca. It will contain separate sections for NFPs, individuals, families and employers. It will also answer questions, provide links to other pages and will summarized the law's provisions. The past guidlines regarding the Small-Business tax credit will apply, however, new [...]
You work hard for your money. Strong internal controls can keep it from disappearing unnecessarily. You trust your employees or you wouldn’t have hired them. That’s what everyone says as they watch a valued staff member being hauled off in handcuffs. But I trusted him. Whether your accounting tasks are done on one PC or [...]
By March 1 employers are required to notify employees of the following information: Must inform employees of the existence of a state individual exchange Describe the service the exchange provides The manner in which employees may request assistance with the exchange If an employee purchases insurance through an exchange, they may be eligible for assistance [...]
Now in 2013 the standard mileage rate has increased a penny, which is used to reimburse employees who drive their own vehicles for business. You may also use the rate to value the personal use of employees’ moderately priced (2012 amounts were $15,900 for cars and $16,700 for SUVs) company cars.
How to save 6.2% in employer paid Social Security Taxes and reap a $1000 tax credit on eligible employees! Read more about The HIRE Act of 2010.
Find out how to save 6.2% Social Security employer paid taxes for 2010 on new hires!!
The perception that management is “against” the workers, once established, is hard to shake. That’s why it’s vital to ensure that you treat employees fairly during disciplinary investigations. To make sure supervisors (or you) play fairly, ask these five questions before handing down discipline: Does the punishment fit the crime (or is the employee being [...]