The Internal Revenue Service reminds business owners that tax reform legislation passed last December affects nearly every business. (more…)
Archive for the ‘Bookkeeping’ Category
The Internal Revenue Service issued guidance on new tax law changes that allow small business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period to use the cash method of accounting.
The Internal Revenue Service today encouraged taxpayers who work seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.” (more…)
Years and years ago, the notion of having a company cafeteria or regularly catered meals was generally feasible for only the biggest of businesses. But, more recently, employers providing meals to employees has become somewhat common for many midsize to large companies. A recent tax law change, however, may curtail the practice. (more…)
Reduce Certain Summertime Costs with the Child and Dependent Care Tax Credit
Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do to save their paperwork for the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it on their taxes in 2018 if they paid for day camp or for someone to care for a child, dependent or spouse during 2017. (more…)
The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor. (more…)