2025-06-20 | Bookkeeping
These taxes include Social Security tax, income tax, Medicare tax and other state income taxes that benefit W-2 employees. The income influences the federal and state tax rates, as well as the rate of tax based on income. Federal rates remain steady across different...
2025-02-14 | Bookkeeping
Our team is ready to learn about your business and guide you to the right solution. A company must make federal tax deposits before submitting a tax return to the IRS. In this process, the transactions are identified, recorded, arranged, summarized, simplified...
2025-02-03 | Bookkeeping
Unlike S corporations, which are limited to 100 shareholders who must be U.S. citizens or residents, C corporations have no such restrictions. This makes them more accommodating to larger pools of investors, including foreign entities. Another key advantage is the...
2024-12-27 | Bookkeeping
Pay received by a worker while they are on holiday should reflect what they would have earned if they had been at work and working. Her statutory entitlement in days is the lower of 28 days or 5.6 x 4 days (22.4 days). Melanie would qualify as a part-year worker if...
2024-12-25 | Bookkeeping
At the end of their contract (termination of employment) they should be paid in lieu for all holiday accrued during this 2-week period. There is an exception for workers whose pay is calculated weekly by a week ending on a day other than Saturday. For example, if a...
2024-12-10 | Bookkeeping
These communications should inform the payee of the unclaimed funds stale dated checks and provide instructions on how to claim them. I was able to easily identify checks that cleared our account for incorrect amounts. Anyone who is not using this is at a huge...
