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Take These Steps to Avoid Payroll Tax Penalties for Your Business

By | Payroll Tax Responsibilities | No Comments

There’s nothing fun about your business owing money to the Internal Revenue Service (IRS), especially when you made an honest mistake or omission. Unfortunately, this scenario is common. In 2016, the IRS assessed civil penalties against six million businesses for mistakes or omissions with payroll tax and just under one million paid a penalty related…

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Employee Appreciation is the Key to Employee Retention!

Employee Appreciation is the Key to Employee Retention!

By | Company Culture, Human Resources, Small Business | No Comments

According to the results of a recent Gallup poll, the number one reason that people resign from their jobs is that they feel unappreciated. This ranks over several other common struggles that people have at work such as conflicts with family responsibilities and not getting along well with their boss. The poll also states that…

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What Employers Must Know About Deducting the Cost of Uniforms and Other Essentials

What Employers Must Know About Deducting the Cost of Uniforms and Other Essentials

By | Human Resources, Small Business, Taxes | No Comments

The United States Department of Labor created the Fair Labor Standards Act (FLSA) to help regulate issues that arise between employer and employee. One of these is a tax deduction to offset the cost of employee uniforms. Because the FLSA considers uniforms a primary benefit to the employer, it doesn’t allow businesses to include the…

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Understanding Your FICA Obligations as a Small Business Owner

Understanding Your FICA Obligations as a Small Business Owner

By | Payroll Tax Responsibilities | No Comments

The term FICA, which stands for Federal Insurance Contributions Act, is a mandatory federal tax that requires employees to pay a certain percentage of each paycheck towards the Medicare and Social Security programs. Employers must pay the same percentage as employees from every paycheck while self-employed individuals pay both the employer and employee portion of…

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