When the clock strikes midnight on new year’s, bam! It’s about time to complete Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. The FUTA tax return differs from other employment tax forms in a few ways. So, how to fill out a 940 tax form also differs. Learn how to fill out Form 940 […]
Read More How to Fill Out Form 940 the Right Way
Has your business experienced a disaster (e.g., tornado, hurricane, etc.)? If so, you may be eligible for the employee retention credit. But to claim the credit, you need to fill out Form 5884-A. Read up on credit eligibility, how Form 5884-A works, and how to fill one out for your business when a qualified disaster […]
Read More What Is IRS Form 5884-A for the Employee Retention Credit?
Employer responsibilities are countless, and taxes are arguably the most important. You need to know which taxes to calculate and withhold from employees, how much to contribute as an employer, how to file employee taxes, and more.
Read More Ease Your Tax Burden: An In-depth Guide on Employment Tax Returns
When it comes to running payroll, you have a lot of things to mark off on your to-do list. From gathering timesheets to distributing pay stubs, there can be a lot of steps that go into paying your employees. But after you pay employees, your payroll checklist isn’t finished just yet. You also need to […]
Read More 7 Payroll Reports Employers Need to File
Employers, this one’s for you. After withholding payroll taxes from your employees’ wages (and contributing the employer share), you need to deposit the taxes with the IRS. But that’s not all. You must also report the taxes on either Form 944 or 941. So, what’s the difference between Form 944 vs. 941?
Read More Form 944 vs. 941: Which Should You Use to Report Payroll Taxes?
Picture this: You fill out your quarterly Form 941 and submit it to the IRS. Everything seems fine and dandy … until you realize you made a mistake on the form. The panic sets in, and you’re left wondering what to do. Instead of stressing about the blunder, learn how to use IRS Form 941-X […]
Read More Whoops! Use IRS Form 941-X to Correct Errors Made on Your Quarterly Form
Small business owners have certainly been through the ringer in 2020. The Paycheck Protection Program (PPP) was a lifeline many business owners were willing to grab, but there were some strings attached. Complicated rules and unanswered questions left many people scrambling.
Read More Form 3508, 3508EZ, or 3508S: Which Version Should You Use for PPP Forgiveness?
Does your business have a contract with the government? If so, you may be responsible for following specific federal regulations, like reporting on your efforts to employ veterans. How much do you know about your VETS reporting responsibilities?
Read More Are You Keeping up With Your VETS Reporting Responsibilities?