Before we can change the name of your business in our system, your name change needs to be made official with the IRS. If you you need to change the name of your business, or plan to in the near future, please see the instructions below from the IRS: http://www.irs.gov/individuals/article/0,,id=148089,00.html
Business Name Change
Business owners and other authorized individuals can submit a name change for their business. The specific action required may vary depending on the type of business. If the ...
U.S. law requires companies to employ only individuals who may legally work in the United States – either U.S. citizens, or foreign citizens who have the necessary authorization. This diverse workforce contributes greatly to the vibrancy and strength of our economy, but that same strength also attracts unauthorized employment.
E-Verify is an Internet-based system that allows businesses to determine the eligibility of their employees to work in the United States. E-Verify is fast, free and easy ...
Changes to Flexible Spending Arrangements
Effective Jan. 1, 2011, the cost of an over-the-counter medicine or drug cannot be reimbursed from Flexible Spending Arrangements or health reimbursement arrangements unless a prescription is obtained. The change does not affect insulin, even if purchased without a prescription, or other health care expenses such as medical devices, eye glasses, contact lenses, co-pays and deductibles. The new standard applies only to purchases made on or after Jan. 1, 2011, so claims for medicines or drugs purchased ...
Repeal of Expanded Information Reporting Requirements
The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 eliminated new information reporting requirements that were created by previous legislation.
The Patient Protection and Affordable Care Act of 2010 expanded information reporting to include payments to corporations, “amounts in consideration of property,” and “other gross proceeds” made in the course of a trade or business (including operation of a governmental entity), beginning in 2012. The new ...
The procedures for compensating yourself for your efforts in carrying on a trade or business will depend on the type of business structure you elect. Below are topics that frequently arise when new business owners ask the Internal Revenue Service questions about paying themselves.
Form 1099-MISC or Form W-2
Treating employees as nonemployees
Shareholder loan or officer s compensation?
An officer of a corporation is generally an employee, ...
An employer's contribution rate is the rate an employer applies to its taxable payroll to determine the amount of unemployment taxes that must be paid. This rate is determined by the employer's "experience rating" which is based on the employer's unemployment benefit charges and average annual taxable payroll. In general, the experience rating generally rewards employers with low employee turnover.
States use one of four methods to determine an employer’s experience rate: reserve ratio (used by the majority of states), benefit ratio, ...
General Ledger Interface
DirectPay’s QuickBooks Interface provides you—or your accountant—online access to payroll data with every payroll. You instantly save time, reduce errors, and increase flexibility with the General Ledger Reporting tools available though Online Employer.
Benefits of DirectPay’s WebGL QuickBooks Interface include:
Wizards guide you through a one time set up to map your accounts to your payroll.
Flexible solution to chart total net pay or each paycheck.
Distribute payroll expenses to multiple accounts and/or departments.
Improves accuracy – no double data entry.
Direct online access by ...
Can you believe the 15th of the month is already on Friday? A lot of Semi-Monthly and Monthly paychecks will fall on this date. Please make sure you report your payroll data to your Account Manager no later than 3pm today in order for us to process your direct deposits in a timely manner.
Did you know that you can call, fax, email, or even key your own payroll online? If you are interested in a different method than your current payroll ...
Did you know that the IRS recently introduced a new mobile phone application? The IRS2Go phone app gives people a convenient way of checking on their federal refund. The phone app is currently available to Apple iPhone users as well as Android users. Apple users can download the app by visiting the Apple App store, while Android users can visit the Android Marketplace to download the free IRS2Go app.
The following information has been provided by the IRS regarding IRS2Go:
IRS Goes Mobile ...
Every year, many people are surprised by how much they owe the IRS or by the amount being refunded. There are many factors that will define your tax situation as the year progresses. One area to consider is whether or not the correct amount of income tax withholding is being deducted from compensation. With each pay check received, employees should verify that their exemptions are correct. Exemption status will always appear on the employees pay notification. To verify whether or ...