Fundera

MARCH 17, 2019

Every time tax season comes around, accountants are flooded with questions for advice on taxes, and in particular, payroll advice, tips, and tricks. Luckily, s mall business income taxes are fairly predictable from year to year. And if we’re calculating that correctly, that means always. ).

Small Businesses 98

Small Businesses Deductions Credit and Collections 98

Fundera

OCTOBER 16, 2020

Managing employee payroll is an important task that can often feel overwhelming. Luckily, thanks to innovative payroll services on the market, handling payroll can be streamlined and simplified. Two of the top names in the payroll business are Gusto and Square. Gusto vs. Square Payroll: Overview. Gusto: The Basics.

Dashboards 98

Dashboards Small Businesses 98

Lendio

JUNE 15, 2023

The Affordable Care Act (ACA) mandates that large employers provide health care coverage to their employees. Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, is a transmittal form that large employers must file with the IRS each year to comply with ACA requirements.

Small Businesses 52

Small Businesses 52

Fundera

APRIL 20, 2020

Small businesses across the country have been impacted by the coronavirus pandemic, and many have turned to the Paycheck Protection Program (PPP) to help them keep employees on their payroll as well as cover other costs. times your average monthly payroll, up to $10 million. . Payroll Costs . What does “payroll” mean?

Credit Unions 116

Credit Unions Deductions Small Businesses 116

Fundera

MARCH 2, 2018

Come tax season, the nice thing about small business income taxes (yes, there’s a nice thing ) is that they’re generally fairly predictable. From an accountant’s perspective, a small business owner’s taxes follow a pattern of calculating, reporting, and paying that repeats on a set schedule.

Small Businesses 98

Small Businesses Deductions Credit and Collections 98

Lendio

JANUARY 30, 2023

Now, even though the economic impacts of the pandemic have subsided, business owners like you can still take advantage of this tax credit. The ERC is a tax credit. This means, when applied, the ERC will reduce the total amount of taxes a business owes to the Internal Revenue Service (IRS).

Deductions 52

Deductions Small Businesses 52

Lendio

JUNE 6, 2023

If you qualify for the Employee Retention Credit (ERC), you could receive thousands of dollars in refundable tax credits for each employee on your payroll during the COVID-19 pandemic. Regular employers that pass all of them can potentially claim the tax credit for 2020 and the first three quarters of 2021.

Small Businesses 52

Small Businesses Deductions Default 52

Lendio

JUNE 6, 2023

If you had employees on the payroll during the COVID-19 pandemic, you could claim up to $26,000 in tax credits for each one, using the Employee Retention Credit (ERC). If you meet the criteria to be a “large employer,” you can claim only the credit for the qualified wages you paid to those not providing services in 2020 and 2021.

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Abrigo

MAY 1, 2020

The amount of PPP loan forgiveness depends on the borrower’s payroll costs and other covered expenses over the eight-week period beginning on the date the lender disburses the PPP loan funds to the borrower. However, the program outline notes keeping employees on the payroll or quickly rehiring is a must. learn more. 15-April 26, 2020.

Credit Risk 78

Credit Risk CECL Credit Unions Small Businesses 78

Lendio

SEPTEMBER 19, 2023

Applying for the ERC Small business owners planning to submit an ERC claim after September 14, 2023 should ensure that their businesses are eligible for the tax credit prior to filling out the stringent application. For tax year 2021, it expanded the definition to include businesses that averaged 500 or fewer full-time employees in 2019.

Small Businesses 98

Small Businesses 98

Fundera

APRIL 13, 2020

Business owners are moving quickly to apply for loans through the Payroll Protection Program (PPP). Average monthly payroll (learn how to calculate your average monthly payroll yourself), loan request amount, number of employees, and loan purpose. Payroll Documentation. Tax Documentation. ID Verification .

Credit Unions 75

Credit Unions Small Businesses 75

Due

AUGUST 20, 2023

The ERC is designed to encourage businesses to keep employees on their payroll during periods of significant disruption or economic hardship. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, the United States federal government will offer a refundable tax credit known as the Employee Retention Credit (ERC).

Accounting Firms 52

Accounting Firms Small Businesses 52

Lendio

JANUARY 24, 2023

Initially, many taxpayers eligible for the ERC were uncertain whether wages paid to owners employed by their businesses qualified for the payroll tax credit. You probably won’t be able to include owner wages in your calculations when claiming the ERC. Do Owner Wages Qualify For the ERC?

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52

Due

OCTOBER 17, 2023

A 401K is an employer-sponsored retirement savings plan that employees can contribute to pre-tax, thus reducing their annual tax liability. Some employers also contribute to the account as a benefit to the employee. First of all, the withdrawal will be considered income and, therefore, subject to income taxes that year.

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Lendio

APRIL 27, 2023

A 1099 form alerts the IRS of payments over $600 made from your company to businesses or people who are not part of your typical payroll. The 1099 form is also used by individual filers to calculate their gross income when completing their 1040 forms. As the employer, you will record what you paid the contractor for that tax year.

Small Businesses 52

Small Businesses 52

Lendio

APRIL 20, 2023

Most entrepreneurs look forward to tax season with the same amount of enthusiasm that kids usually have for a trip to the dentist. Likewise, taxes can seem like a curse to business owners, adding pressure to the already slim margins of a small business. Is the impact of taxes on the bottom line as painful as a root canal?

Small Businesses 52

Small Businesses Deductions 52

Fundera

NOVEMBER 29, 2019

A professional employer organization (PEO) provides comprehensive HR, benefits, payroll, compliance, and other administrative services for businesses of all sizes. That said, joining a PEO is a major decision, as you’ll actually be entering into a co-employment agreement with the PEO company. ADP TotalSource. HR Services.

Small Businesses 97

Small Businesses Credit and Collections 97

NorthOne

JUNE 8, 2023

These tools include invoicing and billing capabilities, payroll and driver settlement management, and customizable reporting and analytics. It can also automatically calculate driver settlements, ensuring that drivers are paid accurately and on time. You can also reduce the risk of errors and improve overall efficiency.

Small Businesses 52

Small Businesses Transactions 52

Lendio

JUNE 6, 2023

The Employee Retention Credit (ERC) is one of the most lucrative tax credits for small business owners. Fortunately, if you had employees on the payroll during the COVID-19 pandemic, you can still claim it retroactively. The ERC works as a refundable tax credit. Now we can calculate the restaurant’s ERC amount.

Nonprofit Organizations 52

Nonprofit Organizations Deductions Small Businesses 52

Fundera

SEPTEMBER 23, 2017

Everyone has come to accept that taxes are a fact of life. But how often do we stop and take a look at what these taxes really are? While business and income taxes make the headlines, few of us actually know what payroll taxes are and how they work. Surprising Payroll Tax Statistics. We all do it.

Small Businesses 80

Small Businesses Credit and Collections Deductions 80

Fundera

APRIL 10, 2020

You’ve likely heard of both Square and Intuit QuickBooks before in the payment processing and accounting spaces, respectively, but what you may not have realized is that both companies provide payroll software for small businesses as well. . If you’re looking to streamline your payroll processes , finding the right software is key.

Deductions 52

Deductions Small Businesses 52

Due

FEBRUARY 24, 2023

Maximum earnings of $147,000 were subject to Social Security taxes in 2022. In other words, workers paying into the system are taxed on wages up to this amount, which is typically 6.2 The benefits you receive are calculated based on your 35 highest-earning years, as well. The maximum taxable income is increasing.

Credit and Collections 116

Credit and Collections 116

Fundera

OCTOBER 5, 2018

Businesses with employees must file IRS Form 941 on a quarterly basis to report income taxes, social security taxes, and Medicare taxes that they’ve withheld from employee paychecks. This form is also used to report the employer’s quarterly portion of social security and Medicare taxes. Who Has to File Form 941?

Credit and Collections 61

Credit and Collections Deductions Small Businesses Insurance Companies 61

Lendio

MAY 24, 2023

It should also help you manage and pay your taxes. The best accounting software for small businesses will connect to your bank account to automatically match transactions and connect to your payroll system for easy payroll management.

Small Businesses 52

Small Businesses Transactions 52

Fundera

DECEMBER 6, 2018

What Is the Federal Unemployment Tax Act (FUTA)? The Federal Unemployment Tax Act (FUTA) is a payroll tax, reported on IRS form 940, that businesses must pay annually or quarterly to fund unemployment benefits for employees who lose their jobs. The State Unemployment Tax Act (SUTA) serves the same purpose in each state.

Credit and Collections 58

Credit and Collections Small Businesses 58

Fundera

JUNE 12, 2019

Payroll is just one of several essential aspects when it comes to HR for your small business. However, like many procedures involved in your business operations, payroll in itself is multifaceted. Moreover, payroll compliance is also necessary to prevent fines and penalties that could negatively impact your business operations.

Small Businesses 40

Small Businesses Deductions 40

Fundera

AUGUST 30, 2019

Payroll Deductions Definition. Payroll deductions are the specific amounts that you withhold from an employee’s paycheck each pay period. There are two types of deductions: voluntary deductions, like health insurance and 401(k) deductions, and mandatory deductions (or those required by law), like federal income taxes and FICA taxes.

Deductions 40

Deductions Small Businesses 40

Fundera

MAY 16, 2020

Gusto Payroll Competitors. QuickBooks Payroll. Square Payroll. Paychex Payroll. Coastal Payroll. If you’ve had to wade through the seemingly endless number of payroll and HR software platforms for small businesses, you know that you’re not for want of options. Quickbooks Payroll.

Small Businesses 52

Small Businesses Transactions 52

Fundera

MARCH 31, 2017

The IRS tax code is complicated—many small businesses struggle to understand how their tax liability is determined. This guide breaks down the types of federal taxes your business may be subject to, how these taxes are applied to different types of business types, and the different rates applied to your business earnings.

Small Businesses 75

Small Businesses Deductions Transactions 75

Fundera

JUNE 28, 2020

Keeping your company’s payroll operations running smoothly so you can always deliver on these goals? Thankfully, there are a variety of payroll services to help make life a little easier. If you’re looking to outsource your payroll work to the professionals—be it through payroll software or otherwise—you’ve probably run into Paycor.

Small Businesses 52

Small Businesses Dashboards 52

Fundera

MARCH 9, 2020

What Is the Best Payroll Software for Small Business? Gusto offers the fullest packages for your small business payroll software—at the most reasonable price. QuickBooks Payroll is the best fit for business owners who use QuickBooks accounting software. Patriot Payroll is the best low-cost payroll software for small businesses.

Small Businesses 67

Small Businesses 67

Fundera

DECEMBER 10, 2018

Businesses with employees file IRS Form 940 to report their obligations under FUTA—the Federal Unemployment Tax Act. Form 940 shows the amount of federal unemployment taxes the employer owed the previous year, how much has already been paid, and the outstanding balance. FUTA and SUTA Taxes. Who Has to File IRS Form 940?

Credit and Collections 65

Credit and Collections Nonprofit Organizations Small Businesses 65

Fundera

MAY 8, 2020

TriNet provides comprehensive HR and payroll services to over 16,000 small and midsize businesses across the country. All three of these platforms provide a combination of HR and payroll services (and more), and we’re certain that they’re well worth your consideration. . This employer services provider is highly rated, too.

Small Businesses 40

Small Businesses Dashboards Deductions 40

NorthOne

MARCH 16, 2023

Establish your small business financial management plan early As a small business owner, you have a lot on your plate, and with so much to do, it can be hard to focus on finances during the times of year when they aren’t at the front of your mind (like they are during tax season or when cash flow is challenging).

Small Businesses 52

Small Businesses 52

Fundera

SEPTEMBER 22, 2019

ADP Payroll Review 2019. ADP Payroll is a cloud-based payroll system that allows you the flexibility to manage payroll, HR, hiring, and benefits. As a small business owner, doing payroll can be an overwhelming task—there are hours to calculate, taxes to withhold, and rules and regulations to comply with.

Deductions 40

Deductions Dashboards Credit and Collections Small Businesses 40

Fundera

JULY 11, 2020

Both are what’s known as professional employer organizations (PEO), meaning they can handle everything from processing payroll to administering benefits for your employees. Payroll administration, HR, benefits administration, expense management, time tracking and scheduling. Manage tax filings. Automate payroll reminders.

Dashboards 52

Dashboards Deductions Small Businesses 52

Fundera

MAY 30, 2019

Many entrepreneurs feel overwhelmed by the thought of filing their small business taxes. If that’s how you feel, we don’t blame you since there’s a lot that goes into preparing your business for tax day. Here’s your step-by-step guide to everything you need to know about small business taxes.

Small Businesses 100

Small Businesses Deductions Credit and Collections 100