Quick notes on Form 940

 Quick notes on Form 940 Form 940 to report your annual Federal Unemployment Tax Act (FUTA) tax. Together with state unemployment tax systems, the FUTA tax provides funds for paying unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax. 940 forms must be mailed [...]

2018-12-17T13:16:29+00:00 December 17, 2018|Uncategorized|0 Comments

Hire your children as employees to save tax!

Hire your children as employees to save tax! Tax benefits of Hiring your Kids to work for your Business: If you hire your children, you can deduct the salaries you pay them. If your child is under 18, you don’t even need to pay Payroll taxes - that is payments such as FUTA and FICA [...]

2018-11-16T13:17:03+00:00 November 13, 2018|Deduction & Credits, Uncategorized|0 Comments

Tax tip for 1099 payment

Tax tip for 1099 payment IRS considers any 1099 payment as taxable income, you are required to report your 1099 payment on your tax return. For example, if you earned less than $600 as an independent contractor, the payer does not have to send you a 1099-MISC, but you still have to report the amount [...]

2018-11-16T13:17:28+00:00 November 13, 2018|Tax Planning, Uncategorized|0 Comments

Do not make this common mistake done by small business owners.

Do not make this common mistake done by small business owners. A common mistake small business owners make is to mix business and personal funds. It’s important to have a separate Bank and Credit Card account for your business. This will make things a lot easier when it comes to managing your books and getting [...]

2018-11-16T13:18:02+00:00 November 13, 2018|New Business, Uncategorized|0 Comments

Tax information for statutory and non-statutory Employee stock purchase plans

Tax information for statutory and non-statutory Employee stock purchase plans Restricted Stock Units are taxed differently than other kinds of stock options, such as statutory and non-statutory Employee stock purchase plans. Those plans generally have tax consequences at the date of exercise or sale, whereas restricted stock usually becomes taxable upon the completion of the [...]

2018-11-16T13:18:49+00:00 November 13, 2018|Investment & Income, Uncategorized|0 Comments

5 Cоmmоn Mіѕtаkеѕ while Incorporating Yоur Cоmраnу

Dоublе - Chесk: 5 Cоmmоn Mіѕtаkеѕ while Incorporating Yоur Cоmраnу Inсоrроrаtіng a company is a great wау tо рrоtесt уоurѕеlf. Incorporation сrеаtеѕ a dіѕtіnсt lеgаl еntіtу that іѕ separate frоm its оwnеrѕ. Aѕ opposed tо a partnership оr sole proprietorship, incorporation limits еасh оwnеrѕ’ реrѕоnаl lіаbіlіtу for аnу buѕіnеѕѕ dеbtѕ. Nо реrѕоnаl аѕѕеtѕ would [...]

2017-09-15T18:29:08+00:00 September 15, 2017|Business Incorporation, New Business, Uncategorized|0 Comments