Tax Resources for Accountants and Small Businesses (U.S.)
For employers to comply with ERISA reporting requirements, they must understand what needs to be disclosed and when deadlines are set by the Department of Labor (DOL). This article will outline the fundamental...
Bankruptcy Bankruptcy is never anyone’s first choice. But for those who find themselves in a difficult and un-workable financial situation declaring Chapter 7 bankruptcy may be the best long-term option. There are several types...
IRS’s National Standards for Allowable Living Expenses IRS Collection Financial Standards are intended for use in calculating repayment of delinquent taxes. National Standards have been established for five necessary expenses: food, housekeeping supplies, apparel...
For Cases Filed On or After April 1, 2021 The following table provides median family income data reproduced in a format designed for ease of use in completing Bankruptcy Forms 122A-1 and 122C-1. Check...
Did your phone number changed and can’t log in to your Paypal account? Are phone and Facebook support unavailable because of staff shortage? For example: I tried to reach them by phone and also...
When an employee travels away from the office and incurs expenses, the company should reimburse them. Whether travelling across the world or just driving their car to a client’s location, getting the reimbursement right...
What documents are needed for employee expense reimbursements? Manage business expense records Do you know what documents you need from employees when you reimburse them for expenses? If you’re like most small business owners,...
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Tackling VAT non-compliance on sales facilitated by online platforms Non-EU companies, including those who make use of warehouses or so-called ‘fulfilment centres’ in the EU, can sell goods to EU consumers through online marketplaces....
Electronically supplied services are: the supply of digitized products generally, including software and changes to or upgrades of software; services providing or supporting a business or personal presence on an electronic network such as...
VAT rules for digital sales Non-EU companies, including those who make use of warehouses or so-called ‘fulfilment centres’ in the EU, can sell goods to EU consumers through online marketplaces. From 1 January 2021...
The WARN Act applies to private businesses with 50 or more full time workers in New York State. It covers: Closings affecting 25 or more workers Mass layoffs involving 25 or more full-time workers...
Excel form will help small employers calculate the amount of federal income tax to withhold from their employees’ wages and help you as you transition to the new Form W-4 for 2020. Link to...
Minimum Wage Act The Minimum Wage Act (Article 19 of the New York State Labor Law) requires that all employees in New York State receive at least the applicable hourly Minimum Wage rate. This...
On the Fringes: The Ins and Outs of Fringe Benefits Fringe Benefits In order to attract and retain quality employees, most employers offer some time of additional compensation over the employee’s wage. These work...
Each dataset represents the form year of the filing (the year printed in the top right box of the form). For 2008 and prior datasets, each dataset represents the plan year of the filing (the plan year end date entered by the filer in Part I of the Form 5500).
Accounting uses different measures to gauge a company’s value and comply with legal requirements. One of the most important is book value. It is widely used internationally for varying purposes. This article explains what...
Are Employee Reimbursements Taxable? In this article we are talking about employee reimbursements and taxation. 1. Employee Reimbursements It’s inevitable that your employees will pay for business expenses with their own money and ask...
Operating Cash Flow Calculation Monitoring the financial situation of a company with transparent accounting is essential. The annual financial statement provides significant information for decision-making and strategic planning. Key financial indicators make it easier...
Special Rules for Various Types of Fringe Benefits (Source: IRS) Taxation of Fringe Benefits Treatment Under Employment Taxes Type of Fringe Benefit Income Tax Withholding Social Security and Medicare (including Additional Medicare Tax when...