Under tax reform, taxpayers who itemize should be aware that deductions they may have previously counted on to reduce their taxable income have disappeared in 2018.Read More
For many Oregonians, ‘Sales Tax’ is a dirty word that they’ve had the good fortune to be able to avoid. Small businesses, both local and out of state, factor this exception when they are looking at their projected revenue or viability and, for some, the survivability of their business. However, many may not be aware of the storm clouds that erupted outside the borders of our state; or, the rude awakening many small and personal businesses are in for in this new tomorrow of Sales Tax Nexus.Read More
An issue with the new Statewide Transit Tax was brought to my attention today which may effect payroll processing in QuickBooks.
The new Transit Tax does not go into effect until July 1, but Intuit/QuickBooks has already put it into the payroll items list so it is affecting payroll.Read More
Do I need to pay quarterly taxes? If your employer withholds money each week from your paycheck, then you likely don’t have to think about making quarterly tax payments. However, for those of us who are self-employed or receive income in the form of interests, dividends, rent, alimony, gains from the sale of assets, prizes or awards, it may be necessary to make quarterly estimated tax payments to the IRS.Read More
Please be advised that Monday May 29th is Memorial Day. This may affect Payrolls that you are responsible for. How will Memorial Day (Monday, May 29, 2017) affect my direct deposit?
More states dare to mess with nexus
$24 billion. That’s the amount of uncollected sales tax from ecommerce retail sales at last count. Those billions of dollars are a powerful motivator for U.S. states who are collectively facing $19 billion in budget shortfalls over the next 18 months. As states get more concerned (and creative) about revenue sources, they’re turning their attention to nexus.Read More
Repost from Avalara
Use tax, the lesser known counterpart of sales tax, suffers from a basic lack of PR. Buyers and sellers alike pay it no mind. Despite 27 states having a dedicated line item in tax returns for reporting use tax owed, only 2% of taxpayers actually report it. This has left the states with a $23 billion deficit annually in uncollected use tax.
While you’re enjoying the summer respite, remember to remain vigilante about business and personal tax planning. Luckily, many of the following hot summer tax-planning tips enable taxpayers to save on taxes while combining business and pleasure.Read More
There are two ways to print your W2’s in QuickBooks-on blank or perforated paper or printing on preprinted W2 forms if you have an Intuit QuickBooks Payroll subscription. Depending on your payroll subscription you may need to order W2 forms from Intuit, as the forms that you can purchase from the government are not intended to be printed on with anything other than a typewriter or by hand.Read More