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Let’s face it—payroll isn’t why you started your business. But unless your dream involved IRS penalties and frustrated employees, it’s a corner of your operations that deserves attention.  As a CPA who works with small service-based businesses every day, I’ve seen some common payroll pitfalls that sneak up on otherwise savvy owners. The good news? These mistakes are avoidable—and we’ll show you how.  1. Missing Payroll Tax Deposit Deadlines   If payroll taxes had a motto, it

If you work with contractors/vendors/attorneys/landlords and you typically pay them more than $600 during the year, then you know that you have to send them a 1099 at the end of the year. Trying to chase them down in January to fill out their W-9, in addition to calculating how much you’ve paid them to put on the 1099, is the worst way to spend the start of a New Year. And your accountant is probably especially fond of doing this for you, too (sarcasm). So let’s not do that

“Just skip the payroll taxes and expenses, pay your worker’s straight pay and send them a 1099!” I’ve even heard other accountants say those exact words to employers, so when I’m advising a small business owner and they recite this money-saving strategy, I have to blow the whistle and at least throw out a caution flag (is that soccer, or NASCAR?). That’s what accountants do; we can’t help it. But seriously – did you know that there are rules and guidelines that the IRS uses

It’s that time of the year, when all the good businesses and bosses are wishing their employees a happy holiday season and, hopefully, topping off the next paycheck with a little cheer in the form of a bonus. Payers and payees alike often have questions about the taxation of occasional bonuses – whether they are holiday gifts or performance-related, or just rewards for hard work in a busy season. Here are a few facts about how payroll taxes are calculated and paid on bonus p

Owning your own business can be exciting, but it can also mean you are responsible for absolutely everything. Payroll and taxes can get complex and may overwhelm as you start up or as your business grows larger. That’s where a CPA, Certified Public Accountant, can help take a big part of the stress out of your professional ventures, leaving you time for what you really want to focus on. There are many reasons to consider having a CPA help but here are some for today: 1. A