Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions…
Payroll Taxes
Employment Taxes and the Trust Fund Recovery Penalty (TFRP)
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To encourage prompt payment of withheld income and employment taxes, including social security taxes, railroad retirement taxes, or collected excise taxes, Congress passed a law that provides for the TFRP. These taxes are called trust fund taxes because…
Business Taxes, Payroll Taxes, Personal Taxes, Quickbooks
Keep Good Records Now to Reduce Tax-Time Stress
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You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions,…
Business Taxes, Outsourcing, Payroll Taxes, Quickbooks
Tips for Employers Outsourcing Their Payroll
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Outsourcing payroll duties to third-party service providers can streamline business operations, but we remind employers that they are ultimately responsible for paying federal and state tax liabilities. Recent prosecutions of individuals and companies who – acting under the guise of…
Personal Taxes
Things Social Security Won’t Tell You
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Things Social Security Won’t Tell You by Jonnelle Marte Wednesday, September 7, 2011 provided by 1. “Long-term deficit? We can hardly afford our bills today.” Worried about the future of Social Security? You’re far from alone. The Social Security Administration…
Business Taxes, Estate and Gift Taxes, Payroll Taxes, Personal Taxes
Taxpayers Who Receive an IRS Notice
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Every year the Internal Revenue Service sends millions of letters and notices to taxpayers, but that doesn’t mean you need to worry. Many notices are routine and can be handled by the taxpayer. If you feel you need help with…