IRS Steps Up ACA Compliance Enforcement
The current administration doesn’t have a glowing opinion about the Affordable Care Act (ACA) mandate, but that doesn’t mean it won’t pursue revenue where it can. The IRS is stepping up enforcement of ACA provisions for large employers, and the penalties can reach millions of dollars. Applicable large employers (ALEs) are subject to the employer […]
IRS Urges “Paycheck Checkups” With New W-4s
Starting in 2020, your newly hired employees will need to submit redesigned Form W-4s. According to the IRS, the new design replaces complicated worksheets with more straightforward questions. The forms, coupled with the agency’s new Tax Withholding Estimator, are designed to help taxpayers get closer to their correct withholding each year. New employees and those […]
Liberty Tax Settles Federal Fraud Case
Just because a nationwide tax preparation company is well known doesn’t mean the advice given by its representatives is wise or even legal. Liberty Tax Services drove home that point earlier this month. It settled with the federal government for failing to maintain adequate controls over tax returns prepared by its franchisees and, in some […]
Your Three Types Of Taxed Income
Taxes are fickle. One classification misunderstanding and the IRS could blindside you with a tax or tax rate you weren’t expecting. Small business owners are especially vulnerable since their personal and business assets can be uncomfortably intertwined. The key to tax savings is in understanding three main types of taxed income and how the money […]
How Sales Tax Affects Your Bids
Correctly estimating your bids is essential to creating trust with your customers and, yet, many factors can throw a project’s original price tag out the window. These often include elements mostly out of your control, such as working with inaccurate specifications, getting hit with rising material and labor costs, and more. Click To View