144 tagged with "Payroll"
Payroll management, processing, and compliance for businesses of all sizes
Work Opportunity Tax Credit: A Complete Employer Guide for 2026
A practical 2026 guide to the Work Opportunity Tax Credit (WOTC) for employers, covering the 10 target groups, credits up to $9,600 per qualified veteran hire, the 28-day Form 8850 deadline, and how to keep filing during the current congressional hiatus.
IRS Form 1096: The Complete Guide for Small Business Owners
Form 1096 is the IRS cover sheet required when paper-filing 1099s and other information returns. Learn who must file it, the exact due dates by form type, how to fill it out correctly, and the penalties for common mistakes.
Form 8941: The Small Business Owner's Guide to Health Insurance Tax Credits
Form 8941 lets small businesses claim up to 50% of employee health insurance premiums as a direct tax credit — but only if you have fewer than 25 FTE employees, pay average wages below ~$65,000, and purchase coverage through the SHOP Marketplace. Here's how to calculate and claim it before your two-year eligibility window closes.
Form 940: The Complete Guide to Employer's Annual Federal Unemployment Tax Return
Form 940 is the IRS return employers use to report annual FUTA tax liability—6% on the first $7,000 of each employee's wages, reducible to 0.6% with timely state unemployment tax payments. Covers who must file, quarterly deposit thresholds, how to claim the state tax credit, Schedule A for multi-state employers, and penalties for late filing.
Form 941: The Complete Guide for Employers
Form 941 is the quarterly payroll tax return every employer must file—reporting withheld income tax, Social Security, and Medicare. Covers who files, 2026 deadlines, how to complete each section, penalty rates (up to 15% for late deposits), and the $100,000 next-day deposit rule.
IRS Accountable Plan: The Complete Guide for Small Business Owners
An accountable plan lets businesses reimburse employee expenses tax-free and exempt from payroll taxes—saving employers roughly $382 per $5,000 in expenses. This guide covers the three IRS requirements, step-by-step setup, and common compliance mistakes to avoid.
IRS Form 944: The Small Business Owner's Guide to the Employer's Annual Federal Tax Return
IRS Form 944 lets eligible small employers with $1,000 or less in annual employment tax liability file payroll taxes once a year instead of quarterly — cutting compliance from four returns to one. Learn who qualifies, how to fill it out, deposit schedules, and how to avoid penalties.
IRS Form W-2: The Complete Guide for Employers and Employees
IRS Form W-2 reports annual wages and withheld taxes for every employee — this guide covers who must file, 2026 deadlines (February 2), penalty amounts up to $630 per form, a box-by-box breakdown, and what to do if your W-2 is missing or incorrect.
IRS Penalties: A Complete Guide to Types, Rates, and How to Get Relief
IRS penalties range from 0.5% to 75% of unpaid taxes depending on type—learn the six main categories, current 2026 rates, safe harbor rules, and how to request first-time abatement or reasonable cause relief.
Medicare Tax: Complete Guide to Rates, Rules, and What You Owe in 2026
Medicare tax applies to all wages with no income cap; in 2026 the base rate is 2.9%, but high earners face an additional 0.9% surtax and up to 5% Net Investment Income Tax on passive income.
The R&D Tax Credit: A Complete Guide for Businesses in 2026
The R&D tax credit (IRC Section 41) cuts your federal tax bill dollar-for-dollar for qualifying research expenses—yet fewer than one in five eligible businesses claim it. This guide covers the four-part test, QRE categories, the Alternative Simplified Credit calculation, and 2026 changes including restored Section 174 expensing and a $500,000 payroll tax offset for startups.
Outsourced Bookkeeping: A Complete Guide for Small Business Owners
When to outsource your bookkeeping, how much it costs ($300–$2,500/month vs. $5,400–$6,700/month for in-house staff), and how to evaluate the three main models — freelance, firm, and virtual — with a realistic 90-day onboarding timeline.