October 12, 2016
Once your business reaches the point of having at least one employee, you need to pay close attention to the details of payroll compliance—especially payroll taxes such as the withholding of federal and state income taxes and FICA (Federal Insurance Contributions Act) tax from employees’ wages. You also need to pay the employer share of FICA tax and federal and state unemployment taxes.
Payroll is an area of your business where it is essential to be proactive about remaining current and compliant. Doing so can save you a lot of pain by avoiding penalties for mistakes and late payments, so use these tips to ensure your payroll is as close to perfect as possible:
If you have questions about payroll compliance and taxes, please contact our firm for assistance.
BOSS is the answer to your back office headaches. Our cloud-based solution enables you to hand complex accounting tasks over to us. We work the numbers while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.
Chris Ayers has been a part of the Greene Finney, LLP team since May of 2017. As part of our Advanced Staff, Chris is responsible for performing audits for clients. His formal education includes a BS in Accounting and a BA in Criminal Justice, both from Anderson University in South Carolina. Chris enjoys an active lifestyle outside of the office, which involves activites such as hunting, playing golf and spending time with his Golden Retriever, Sammy.
Having a remote workforce can be challenging, especially if you are trying to build a positive, collaborative work environment. So, how do you create a sense of comradery when you have staff in remote locations? These tips can help:
If you are expecting a refund this year, you may be tempted to splurge on something not-so-practical. Before you do, take some time to think about ways to use your refund to bolster your financial health. We’ve put together a few ideas for you to consider: