Announcement
W-2 Deadlines, Penalties, & Extension for 2019/2020
Form W-2 is an annual payroll report that shows the amount of taxes withheld from the employees’ paycheck for the year and is used to file federal and state taxes. As 2019 draws to a close, it is important for all the employers to issue Form W-2 to their employees without any delay so they…
Read MoreIncrease in Information Return Penalties
Effective with returns due after January 1, 2016, penalties for not filing correct information returns and/or not furnishing correct payee statements have increased and are now subject to inflationary adjustments. Examples of affected forms include: Forms 1098, 1099, W-2G and W-2. The amount of the penalty is based on when you file the correct information…
Read More1099 Deadlines, Penalties & State Filing Requirements for 2019/2020
As the year 2020 has started, the 1099 deadlines will loom closer. Being a responsible employer, it’s important to prepare and issue 1099s to the recipients, and file them to IRS responsibly without any delay. 1099 tax form, referred to as “Information Returns” by IRS, should be sent by the company to the independent contractors…
Read MoreTreasury and IRS Announce 90-Day Delay for Tax Payment Deadline
UPDATE: Since this article was published, Treasury Secretary Steven Mnuchin has announced that the tax filing deadline for the 2019 tax year will also be extended by 90 days to July 15, 2020. This is available to everyone and means that taxpayers do not need to file for an extension by April 15th in order…
Read MoreThe Professional Association of Small Business Accountants Holds 13th Annual Awards Ceremony and Honors Six Members
The Professional Association of Small Business Accountants Clearwater Beach, FL, May 8, 2019 — The Professional Association of Small Business Accountants held its 13th annual awards ceremony at the 2019 Spring Marketing Conference in Clearwater Beach this week. Six well-deserving members were honored with awards during the conference dinner party, located at Opal Sands Resort.…
Read MoreBusiness License Tax / Seattle Business and Occupation Tax (B&O tax)
The Seattle business license tax is applied to the gross revenue that businesses earn. It is sometimes called the Seattle business and occupation tax (B&O tax) or gross receipts tax. If you do business in Seattle, you must: – have a Seattle business license (see the due dates for that here) – file a business…
Read MoreSeattle Business License Tax Due Dates
The date your taxes are due depends on your reporting status. Your reporting status indicates how often you are required to file taxes and is listed on your business license. If you do not know your reporting status, contact us. This video summarizes Seattle business license tax due dates for each reporting status. You pay…
Read MoreBusiness Accounting: 21 Vital Tasks
Taking care of business finances can be complicated, but proper management can cut down on much of the drudgery. The key actions are to create a realistic budget plan, correctly record transactions, regularly check your results, and keep good records. You also need to be comfortable with basic financial reports like balance sheets, income statements,…
Read MorePayroll Services for Small Businesses
Every small business owner knows there is a lot of stress associated with starting up and running your own business. With that in mind, it only makes sense to hire professionals when it comes to managing your pay roll services. Especially when 1/3 of small business owners are slammed with penalties that range from the hundreds…
Read MoreWhat is Washington State Sales Tax?
As a business owner or entrepreneur in Washington, it can be challenging to know exactly what the sales tax rate is, how often to file, and which items are actually taxable. The first step for any business owner in Washington is to determine if their business fits the criteria for being a “sales tax nexus.”…
Read More