What Employers Need to Know When Classifying Workers as Employees or Independent Contractors

An important tax tip from the IRS: It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control

What Taxpayers Need to Know About Making 2021 Estimated Tax Payments

Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year.

Important Reminder! Anyone with an Employer Identification Number (EIN) Must Update their Responsible Party Information Within 60 Days of Any Change!

Calling it a key security issue, the IRS urges any entities with Employer Identification Numbers (EINs) to update their applications if there has been a change in the responsible party or contact information. IRS regulations require EIN holders to update

Face Masks and other PPE to Prevent COVID-19 are Tax Deductible!

The IRS issued guidance clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. The amounts paid for personal protective

PPP Loan Recipients: Take Advantage of the Employee Retention Credit Retroactively!

Before the December 27, 2020, enactment of the new COVID-19 relief law, you may have chosen the Paycheck Protection Program (PPP) loan and given no thought to the employee retention credit. Remember, under the original law, you had to choose

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