Employers Have Questions And Concerns About Deferring Employees’ Social Security Taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page guidance in Notice 2020-65 was issued to implement President Trump’s [...]

By |2020-09-08T15:06:01-04:00September 8th, 2020|Categories: Blog, Tax|Tags: , , , |Comments Off on Employers Have Questions And Concerns About Deferring Employees’ Social Security Taxes

The President’s Action To Defer Payroll Taxes: What Does It Mean For Your Business?

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an effort to offer more relief due to the COVID-19 [...]

By |2020-08-17T17:33:34-04:00August 17th, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on The President’s Action To Defer Payroll Taxes: What Does It Mean For Your Business?

How to Avoid Getting Hit with Payroll Tax Penalties

For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under [...]

By |2019-04-10T20:52:28-04:00July 9th, 2018|Categories: Blog, Tax|Tags: , , |Comments Off on How to Avoid Getting Hit with Payroll Tax Penalties

Putting your child on your business’s payroll for the summer may make more tax sense than ever

If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring your child may make more sense than ever [...]

By |2018-07-10T17:51:26-04:00May 29th, 2018|Categories: Blog, Tax|Tags: , , , , |Comments Off on Putting your child on your business’s payroll for the summer may make more tax sense than ever