Category: Payroll

Audit your Audit

I routinely provide payroll information for worker’s compensation audits for my clients, however, I am not always the one who gets the final bill. This last week I did get a bill for one of my clients for whom I had filled out the audit paperwork. The second I looked at it, I knew it

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Social Security Tax Reduction Starts January 1, 2011.

Your employees will start taking home more pay with their first paycheck of 2011 thanks to the Tax Relief Act of 2010.  For 2011 only, the employee portion of social security tax will be reduced by 2% to 4.2%.  This could add up to a tax savings of up to $2136 per worker. Employers will

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Nevada Unemployment Insurance costs to rise

Employers will pay more unemployment insurance taxes in 2011. To cover the shortfall in Nevada’s unemployment fund Nevada employers will get a little surprise in January. According to an article in the Nevada Appeal, “Through the end of September this year, the state collected $570 million from employers but paid out $1.8 billion.”  This means

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Expanded 1099-MISC Reporting Starting in 2011 for Rental Property Owners

Starting in 2011, owners of rental property will need to begin issuing 1099 forms for payments relating to their properties. A 1099 form is required if the property owner makes payments of  $600 or more to unincorporated individuals or businesses for services such as landscaping, repairs and painting. Property owners need to start tracking these

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Tsunami of Paperwork to Hit Businesses in 2012. Are You Ready?

The new health care law, known as the Patient Protection and Affordable Care Act (PPACA) includes sweeping new changes to 1099 requirements.  Every business owner will be required to send a 1099 for purchases of products or services of $600 or more in one year, from any company or individual.  Currently the law only requires

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Major Tax Credit to Expire Soon.

Since the HIRE act will expire December 31, 2010,  now is a great time for businesses to save on payroll taxes and recruit some good talent.  If an employer hires a new employee between March 19 – December 31 and that employee had been previously unemployed, the employer qualifies for a Federal payroll tax exemption

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