Two previous columns discussed often-overlooked tax breaks available in 2021 for freelancers, consultants and other self-employed individuals who pay their sons and daughters reasonable wages for work actually done by the children on behalf of their businesses. You can read about TCJA tax benefits and more. Adding children to payrolls
You may disagree with a situation at your firm behind closed doors, but as a leader you need to be part of putting on a unified front. To do otherwise can spread poison within your firm. Do you find that tough to do? Here are a few tips for handling practice management
When updating QuickBooks payroll, you may receive QuickBooks Error 15101 that usually appears when QuickBooks is unable to connect to the internet to download the updates. Internet connectivity errors not only create problems while updating payroll and features but also cause issues updating bank feeds in QuickBooks Desktop. QuickBooks update
QuickBooks Payroll allows you to handle multiple Payroll chores without any complications. Paying your employees on time is a healthy business practice and any delay in payroll processing can negatively affect your business reputation. QuickBooks Error 15241 is a payroll error that occurs when a user tries to update payroll
Nearly 30% of small business owner’s overpay their taxes every year to the state and federal tax authorities either because of the incorrect tax payment calculation or because of the fear of getting penalties from the IRS. If you are an employer who has overpaid payroll tax liabilities using QuickBooks,
Many employees previously working physically in one state now find themselves working remotely from another, as COVID-19 continues to increase the pace at which the nation’s workforce fulfills their many different jobs from home. And, in the wake of such large-scale mobilization of so many employees in different industries, states
The new capabilities in CCH Client Collaboration were developed specifically to save firms and clients time during a busy tax season and to reduce overall tax filing season compression. They include several new features designed to help decrease the time clients spend collecting and delivering tax documentation to their accountant, paying invoices
Despite the tax law change, the key principles remain relevant today. In the new case, a Maryland taxpayer had an insurance consulting business. He claimed deductions for a laptop he purportedly used at home for business purposes. The IRS denied the deductions and the case, which also involved contested gambling
I understand that there are firms out there that haven’t yet embraced apps or the cloud quite like I already have. So, I want to share with you my proven steps for evaluating technology in order to drive efficiency in my firm, so you can do so in yours. Write Out Your Process
It is not unusual to find a miscalculation or error in scheduled payroll tax liabilities in QuickBooks. Even a minor mistake while setting up payroll taxes can result in huge discrepancies when you finally run the payroll for your employees. These miscalculations and faults in payroll setup can cause errors
