As it turns out, non-profits must follow more than the tax law when it comes to being an exempt entity. If they hire employees, they also have the responsibility for payroll taxes, just like any business.Read More >
For business owners everywhere, the end of the year means that it is time to get ready to file their businesses’ tax returns. Rather than wait until the last possible minute, you can get ready now for tax filing season with some common sense advance planning. These strategies could help you maximize your deductions, lower your taxable income, and possibly increase the amount of your tax refund.Read More >
As an employer, you are required to follow precise state and federal laws when paying your employees. Along with paying them what they have earned, you also must withhold amounts from their paychecks whenever your employees are garnished. You can comply with a garnishment order fully by understanding what it is and under what circumstances the state or federal government requires you to withhold money from your employees' earnings.Read More >
Like individual taxpayers, business owners must also file and pay taxes to the IRS. Along with paying taxes on the money that their companies make each year, they also must withhold numerous forms of taxes from their employees' paychecks.Read More >
Small business owners have the unique obligation to report and pay their taxes quarterly. While the IRS wants this process to be relatively straightforward and simple, you still may be confused about what is actually expected of you at the end of every quarter. You can learn how to file the 941 employment tax form and avoid expensive fines and penalties by keeping these tips in mind.Read More >
Texas allows many businesses and organizations in the state to enjoy tax exempt status. These entities include churches, schools, charities and other groups that serve the public. Your business is required to recognize the tax exempt status of these organizations and accept their applicable tax forms. As you operate your business in this state, you should recognize and welcome these five common forms used for tax exemption.