W-2 Boxes Explained
by Jannette Lajom, Partner Success Tax Supervisor When viewing your W-2, you could easily get overwhelmed with the number of W-2 boxes. There are more than 14 of them! So, let’s get into the details: Box 1 –…
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IRS News Release – ERC
Seven warning signs of incorrect Employee Retention Credit claims for businesses to review as key March 22 deadline approaches IR-2024-75, March 20, 2024 WASHINGTON — To counter promoters that marketed misleading information about the Employee Retention Credit (ERC), the Internal…
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Small Business Tax Workshop
The Internal Revenue Service (IRS) website offers several resources to assist new and small business owners with information needed to understand and meet federal tax obligations. Tutorials are available on-line and are conveniently labeled for easy accessibility anytime. In this…
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Tax Deposits and Filing a Return to Report Payroll Taxes
The Internal Revenue Service (IRS) website offers several resources to assist new and small business owners with information needed to understand and meet federal tax obligations. Tutorials are available on-line and are conveniently labeled for easy accessibility anytime. In this…
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Managing Payroll to Withhold the Correct Amount of Taxes
The Internal Revenue Service (IRS) website offers several resources to assist new and small business owners with information needed to understand and meet federal tax obligations. Tutorials are available on-line and are conveniently labeled for easy accessibility anytime. In this…
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Year End Breaking News: SDP Moves to 1099 E-Filing for 2023 Year Filings
by Nicolas Williams, Lead Accounting Specialist SDP offers 1099 Filing for the 2023 Year End for all clients, regardless if you recorded 1099 wages in our system or not. Starting January 1, 2024, the Internal Revenue Service (IRS) requires all…
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FUTA Tax Credit Reduction 2023
Plan For Additional Tax Payments in January 2024 if you have employees in the following states: *The additional cost per employee listed above is based on the FUTA wage limit of $7,000. If an employee earned less than $7,000…
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Schedule C and Other Small Business Taxes
The Internal Revenue Service (IRS) website offers several resources to assist new and small business owners with information needed to understand and meet federal tax obligations. Tutorials are available on-line and are conveniently labeled for easy accessibility anytime. Completing a…
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IRS Business Online Learning & Education
The Internal Revenue Service (IRS) offers businesses a variety of resources to help support education, compliance, and information sharing. By utilizing the IRS Tax Information For Businesses website, businesses can access resources that can simplify tax-related issues and processes. Plus,…
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Resources for Understanding Employment Taxes
Employers must deposit and report employment taxes. This includes reporting wages, tips and other compensation paid to each employee as well as furnishing copies of Form W-2 to each employee so that they can accurately report their earned wages. The…
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