Issuing 1099’s in January may seem like it was months ago but eventually the IRS sorts through all of the forms and is able to identify mismatches or missing information on the 1099’s that were issued. For many businesses, the…
Regardless of the size of your business, payroll is a task that takes time, organization, attention to detail and meeting deadlines, in other words…. effort. Many business owners and leaders are on the fence about what the best choice is…
As promised, the IRS released the final version of the new Federal W-4 form for use starting in 2020. Recall that a W-4 is a form filled out by an employee to tell the employer how much to withhold…
The Work Opportunity Tax Credit (WOTC) program is a federal tax credit that gives employers an incentive to hire workers in target categories. These target groups are considered individuals that have “significant barriers to employment”. The program allows employers to…
Often times a major financial burden to people with young children is paying for their care. The good news is there is some relief. This credit is available to almost anyone who has a dependent and has earned income. This…
Payroll taxes can seem like a maze with many twists and turns and you may feel like you are at a dead end. The key to breaking through this initial confusion is to identify two different paths related to payroll…
During this holiday season, in addition to being on the lookout for that perfect gift, also be on the lookout for your annual letter from BakerStarrett requesting 1099 and W-2 information and updates for the 2018 tax year. You may…
If your business has employees, you’ll have to do payroll. There’s no way to avoid it, but what really is payroll? There are 4 basic components to payroll: Paying employees compensating employees for the work they do Withholding and paying…
The Internal Revenue Service has released the updated Form W-4 (here) for 2018. Along with the W-4, they have released an updated Withholding Calculator to help taxpayers check their 2018 tax withholding following the Tax Cuts and Jobs Act that was…
