Accuchex Blog

Tax Cuts and Jobs Act - Two Small Business Highlights

Posted by Leslie Ruhland on Jun 6, 2018 3:39:28 PM

Major tax changes were approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. Along with large corporations and individual taxpayers, small businesses will be impacted.

What is probably one of the most discussed and misunderstood aspects of the Act is the 20 percent deduction on qualified business income. While there a large number of items and changes in the TCJA, this particular deduction has caused both anticipation and consternation because of the language in the law.

Read More

Topics: tax reporting, tax forms, income tax reporting, IRS, small business

HR Management Alert: IRS Updates For Tax Year 2017

Posted by Leslie Ruhland on Dec 7, 2017 8:50:00 AM

Each year the IRS makes changes, updates forms, and issues new instructions. Tax filing year 2017 is no different for HR management personnel.

It would take a much longer post than this to cover all of the IRS changes and updates for the tax year, which is why payroll tax filing compliance requires a large degree of due diligence for businesses. However, some changes and new items warrant special note.

Read More

Topics: IRS, tax forms, payroll tax filing, tax reporting, HR compliance

Payroll Tax Filing for Independent Contractors

Posted by Leslie Ruhland on Jun 6, 2017 12:27:44 PM

Payroll tax filing and payroll obligations are processes with potential for mistakes and missed deadlines. And having independent contractors can complicate them further.

Read More

Topics: payroll tax filing, independent contractors, tax forms, 1099-MISC, payroll compliance, employee classification

2017 Labor Law And IRS Updates

Posted by Leslie Ruhland on Feb 7, 2017 9:00:00 AM

Every tax year seems to bring changes, small and large, that businesses must stay apprised of. Being proactive and informed is one of the best strategies for payroll tax filing compliance.

It pays to be well-prepared when it comes to payroll taxes. Some of the new changes businesses need to be aware of involve deadlines, tax credits, and W-2 forms.  This is not a comprehensive list of changes and updates, however, and every HR professional should stay on top of this information by checking for the latest updates at IRS.gov.

Read More

Topics: IRS, payroll tax filing, payroll compliance, labor law, tax forms

The FUTA Tax Rates For California Increase For 2016

Posted by Tristan Ruhland on Dec 20, 2016 9:00:00 AM

According the U.S. Department of Labor, employers in California and the U.S. Virgin Islands will be paying far higher FUTA taxes in January 2017 because of their unpaid federal loans.

The U.S. Department of Labor recently announced that employers in the state of California and in the Virgin Islands will pay their Federal Unemployment Tax Act, or FUTA, taxes for calendar year 2016 at a higher tax rate than employers in other states.

Read More

Topics: FUTA credit reduction, UI filing, payroll tax filing, IRS, DOL, tax forms

Subscribe to the Accuchex Blog