When filing an extension for your income tax returns, the Internal Revenue Service requires that you estimate what you owe and pay in at least 90% of the taxes that you owe. An extension is for filing the return and is not for the payment of income taxes.
This month’s newsletter includes a big surprise by the IRS who has decided to delay revisions to W4 forms until 2020. This means that 2019 will be similar to 2018. Also, we feature an article on profitability from Entrepreneur.com, as well as big updates on accounting, human resources, and our monthly Quickbooks tip.
What HSA employer contribution rules do you need to know about? With the rising costs of healthcare, health savings accounts (HSAs) are growing in popularity among employers and employees alike. HSA’s are typically paired with a high deductible health insurance plan under a Section 125 Cafeteria Plan. They provide numerous tax benefits in addition to… Read more about 5 Important HSA Employer Contribution Rules Every Business Owner Should Know
Are you a business owner? Are you getting all of your potential tax savings? With those dollars representing precious resources you could invest back into your business, it is not just about getting more money in your pocket. It could be the difference between your business’ long-term failure and success. And while large corporations have… Read more about 7 Tax Saving Tips for Small Business Owners in Arizona
When you’re starting off as a small business in any state, one of the biggest concerns you may have is the tax rates for small businesses. Depending on where your company resides, you may receive different tax rates which will affect your tax return and your budget for the following year. This is also something… Read more about Tax Rates for Small Businesses by State
The IRS Taxpayer Advocate Service has the motto Your Voice at the IRS. The service lives up to its motto by providing free help with any and all IRS problems you may come across when paying taxes. Do you have a refund that hasn’t arrived yet? Do you know your rights when it comes to… Read more about How Does the IRS Taxpayer Advocate Service Help Me?
The Affordable Care Act has gone into effect for employers with over 100 employees! As 2015 begins, the look-back period starts. The IRS is using this time to determine whether or not an employer is required to provide healthcare coverage for its employees or for employers with 50-100 full-time equivalent employees. The IRS can request… Read more about ACA 2015 Report
A contractor is not required to obtain a 2015 prime contracting TPT license if its business activities are limited to contracts for the maintenance, repair, replacement or alteration of existing property with the owners of real property or the owners of the improvements to real property or agents of the owners.