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1) How to Avoid W2 and W3 Form Errors
Author:
Lisa Heather
Category:
Business
The fourth quarter of the tax year brings around the time to start preparing for end of the year wage reporting. Being organized and primed for this time of the year alleviates unnecessary last minute stress and mistakes. The IRS and SSA host a Small Business Seminar for both paper filers and/or electronic filers. Business owners should plan on attending the seminar for valuable information on reporting wages and taxes and to receive the latest electronic filing instructions.
SSA asked em...
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2) How to Take Advantage of Recovery Act Benefits
Author:
Lisa Heather
Category:
Business
The government has been offering multiple opportunities to the American public to benefit from the American Recovery and Reinvestment Act of 2009. The tax benefits range from buying a new home or making home improvements to education and income tax credits.
The first-time homebuyer tax credit has been widely publicized. This tax credit allows a taxpayer who has not owned a residence in the past three years to claim up to $8,000.00 on a 2008 or 2009 income tax return. There are deadlines and...
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3) Federal Minimum Wage Increases, Easier With Payroll Software
Author:
Lisa Heather
Category:
Business
On Friday July 24, 2009 the federal minimum wage increased to $7.25. This increase affects a number of states and all employees who are covered by the Fair Labor Standards Act (FSLA). The increase is the third and final in a succession of increases, over a three year period, mandated by a bill that was passed in 2007.
The most recent increase will improve the wages, for employees, in thirty states (Alabama, Alaska, Arkansas, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Ma...
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4) Arizona Payroll Software- Income Tax Changes
Author:
Lisa Heather
Category:
Business
Effective May 1, 2009 Arizona withholding options have changed. The amounts, on or after May 1, 2009 through June 30, 2010, required to be withheld for Arizona withholding purposes will continue to be a percentage of the federal withholding. The new percentage options are available by contacting the Arizona State Revenue Department. Amounts withheld on or after July 1, 2010 must be based on a table prescribed by the department. The department plans to have the new withholding tables available s...
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5) Direct Deposit Payroll Software- Green Facts
Author:
Lisa Heather
Category:
Business
Employers can save time and money by using direct deposit while benefiting the environment. Direct deposit is also a smart way to reduce paycheck fraud, as related to counterfeit and/or stolen checks, altered amounts and forged signatures. Direct deposit transactions typically have a lower cost than a paper transaction. You can calculate your typical cost savings by using a direct deposit calculator.
The benefits to the environment come in many forms, from the business end to the individual...
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6) Second Quarter 941 Deadline- Payroll Software
Author:
Lisa Heather
Category:
Business
The IRS deadline, to file the second quarter 941 form (Employer's Quarterly Federal Tax) Return) is nearing. To be compliant with government regulations this is one of many payroll forms business owners and employers need to prepare. Employers use this form to report wages paid, tips received by employees, federal income tax withheld, both the employee and employer portion of Social Security and Medicare taxes, the current quarter's adjustments to Social Security and Medicare tax for fraction o...
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7) New York Enacts a New Payroll Tax
Author:
Lisa Heather
Category:
Business
As of March 1, 2009 The Metropolitan Commuter Transportation Mobility Tax (MCTMT) has imposed a new payroll tax on certain employers and self-employed individuals engaging in business within the Metropolitan Commuter Transportation District (MCTD). The MCTD includes New York (Manhattan), Bronx, Kings (Brooklyn), Queens, Richmond (Staten Island), Rockland, Nassau, Suffolk, Orange, Putnam, Dutchess, and Westchester counties.
This tax will be...
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8) Church Payroll: Use A Church Payroll Software To Save Time and Money
Author:
Lisa Heather
Category:
Business
Generally, churches and other religious organizations are required to withhold and report different types of payroll taxes. This includes (but not limited to) Income, Social Security and Medicare taxes. Using a church payroll software can make the process of doing clergy payroll easy, stress free and prevents common mistakes and penalties...
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