The IRS has released a list of states that have defaulted on their 2012 Federal Unemployment Insurance Loans causing employers in these states to owe additional FUTA tax for the tax year 2012.
The following are the FUTA tax rate increases for the affected states and credit reductions:
New Jersey 0.6%
New York 0.6%
North Carolina 0.6%
Rhode Island 0.6%
Virgin Islands 1.5%
This rate will be applied to the 1st $7,000.00 that each ...
Even the most savvy entrepreneurs sometimes have a difficult time keeping up with payroll taxes. According to howstuffworks.com, payroll taxes can create trouble, because “Complicated tax forms must be filled out and filed on an annual, quarterly, sometimes even weekly basis. Missed deadlines and improper tax filings can result in steep fines and even jail time.” A business owner managing payroll can be a huge time waster. That’s bad for the owner and bad for the company. Sitting in the office ...
How important is it that a small business owner stays informed?
Information is absolutely critical to small business owners and managers. The problem is, it changes daily, even hourly at times.
Keeping up with the latest rules, regulations and appropriate procedures for operating a small business can make the difference between successful entrepreneurs or just great ideas that never get to grow.
Some of the most important, ever-changing and critical aspects of business operations are payroll, taxes and HR policy compliance. Staying on top ...