Once you’ve filed your income tax return, you may be ready to put some distance between you and the IRS and turn your attention to other things. If you’re employed, you probably can take a breather, since your employer will handle ongoing income tax payments for you through the wage withholding process. But it’s a […]
Archives for June 2021
Common (and Costly) Payroll Errors and How to Avoid Making Them
Payroll is one of the most important aspects of any business, but it’s one that, when running smoothly, business owners don’t tend to think about; however, when there’s a payroll glitch, it jumps to the forefront of an owner’s mind. Here are several payroll mistakes that can cost you a bundle and how to avoid […]
Federal Budget Tax Proposals
President Biden’s budget contains a number of tax proposals as detailed in an article by the AICPA. This is a short summary of some of the more important changes, and more details are available in the article. Individual Taxation Increase the top marginal tax rate from 37% to 39.6% for taxable income over $509,300 for […]