Best Ways to Manage Your Payroll Efficiently

Are you running a small business? Are you handling multiple aspects on your plate? Then, menial things such as payroll should not bother you if you are capable of managing it efficiently. Payroll management is one of the vital operations of any business. Payroll processing plays the chief role of dealing out employee paychecks, maintaining sufficient documentation, and complying with labor laws. For ones looking forward to maximizing the efficiency of a business, then you are on the...

The Latest Guidance on the Paycheck Protection Program

The CARES Act (Coronavirus aid, relief, and economic security act) that was passed on March 27, 2020, provides forgivable loans of about $10 million to qualifying small businesses under the paycheck protection program loan. We have addressed the latest considerations that are relevant to PPP borrowers and companies here. What is a paycheck protection program? The paycheck protection program is a loan that offers a direct incentive for small businesses and helps keep their workers on the...

IRS provides tax relief for victims of Hurricane Sally; 15- October deadline, other dates extended to 15-Jan

Have you been a victim of the latest natural disaster Hurricane Sally? Do you know deadline extension and tax relief for affected victims? Based on your location, there is tax relief for hurricane Sally victims. Here’s a glimpse of it. Hurricane Sally Relief Due Date Extended Oct. 15 to Jan. 15 The IRS has declared relief for victims affected by hurricane Sally. The storm arose on 14-September 2020, and taxpayers affected by the storm have an extended...

COVID-19 PANDEMIC PROMPTS MANY TAX CHANGES

The government responded to the COVID-19 pandemic by giving breaks for the American taxpayers from filing forms to paying taxes. Filing and Payment Suspensions The IRS released a notice stating that they are suspending much federal tax amount and filing deadlines to July 15, 2020. For people whose filing and paying falls on or after April 1, 2020, and before July 15, 2020. This applies to all the taxpayers. There will no penalty or interest for the...