by Bobbie Witt | Jan 29, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, Small Business, tax tips
2018 Schedule C-EZ simplified version is available for some proprietors If the filer is self-employed and business meets certain conditions: The business expenses equal $5,000 or less; Has only one businessThere are no employees Also, the business must: Show no...
by Bobbie Witt | Jan 22, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Home Page Blog, Profit First
Watch 401(k) contribution limits. The limitations are per employee—not per account. The IRS is about to enforce excess contributions. Be aware: some employees exceed the annual limit ($19,000 for 2019) because they have multiple accounts, according to a Treasury...
by Bobbie Witt | Jan 14, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Profit First, Small Business, tax tips
Businesses can use the federal per diem rates, including meals and incidental expenses to reimburse employees for business travel expenses. Rates have been in effect since October 1, 2018 and will remain in effect until September 30, 2019. Incidental expenses only...
by Bobbie Witt | Jan 8, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, Small Business, tax tips
Tuesday Tip Day To make sure your employees paycheck names and social security numbers match the W-4 they completed on their employment, use the Social Security Administration’s SSN Verification Service. For tax purposes, wages earned in 2018 but paid by check or...
by Bobbie Witt | Jan 7, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, Small Business
The Social Security Administration (SSA) has resumed audits and penalizing employers for mismatched names and social security numbers. In August 2018, the Social Security Administration (SSA) mailed “Educational Correspondence” letters to employers whose W-2s had a...
