Tag

Taxes

How to File Required 1099 Reports Electronically AccountingPayroll ProcessingPayroll Tax ResponsibilitiesSmall Business

How to File Required 1099 Reports Electronically

The Internal Revenue Service (IRS) requires employers to provide a 1099 income reporting form for all independent contractors who earned more than $600 in a calendar year. Starting in 2020, the IRS required employers to select one of two types of 1099 forms rather than defaulting to the 1099-MISC form used in previous years. If…
Palmetto Payroll
August 2, 2021
What are Payroll Taxes and How do I Pay Them?
What are Payroll Taxes and How do I Pay Them? Outsourced PayrollPayroll ProcessingTaxes

What are Payroll Taxes and How do I Pay Them?

As a small business owner, both federal and state governments require you to withhold certain deductions from employee paychecks and submit them on a quarterly basis. For the federal government, you must withhold funds to pay the employee's federal, Medicare, and social security taxes. You determine federal tax by the amount the employee earns as…
Palmetto Payroll
December 12, 2018
How Will the New Tax Bill Will Affect your Small Business?
How Will the New Tax Bill Will Affect your Small Business? Small BusinessTaxes

How Will the New Tax Bill Will Affect your Small Business?

As the first quarter of 2018 winds down, many business owners find themselves still trying to make sense of tax laws that Congress passed at the end of 2017. These new rules mainly affect small businesses and pass-through entities. Before we discuss the specific changes, it's important to understand each type of business structure. They…
Palmetto Payroll
March 15, 2018
Preparing for Year End: What Should Be on Every Business Owner's Mind
Preparing for Year End: What Should Be on Every Business Owner’s Mind AccountingSmall BusinessTaxes

Preparing for Year End: What Should Be on Every Business Owner’s Mind

Soon 2017 will be another year for the history books. Some business owners look forward to year end because it's an opportunity to implement changes and others dread it because they know it will soon be time to file a tax return. No matter where your sentiments lie, all business owners can benefit from year…
Palmetto Payroll
November 30, 2017
The Advantages of Digital Onboarding for a Business Accountant
The Advantages of Digital Onboarding for a Business Accountant Outsourced PayrollReportingSmall BusinessTaxes

The Advantages of Digital Onboarding for a Business Accountant

Digital onboarding is a type of framework that is designed to help market and grow your business. With the latest advancements in technology, more businesses are taking advantage of the internet and are finding effective ways to reach new potential clients, and keep in touch with existing ones. They are often creating an entirely new…
Palmetto Payroll
August 14, 2017
Why does Year-to-Date Payroll Processing Matter to your Company?
Why Does Year-to-Date Payroll Processing Matter to your Company? Outsourced PayrollPayroll Processing

Why Does Year-to-Date Payroll Processing Matter to your Company?

Year-to-date payroll processing is important to any small business because a substantial percentage of the business's expenses go to paying the wages of their employees. Year-to-Date payroll processing is the amount of money that your business has spent on payroll beginning at the first of the calendar or fiscal year and ending on the current…
Palmetto Payroll
June 29, 2017