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…

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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…

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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.…

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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…

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Business 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,…

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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…

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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.”…

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