Jury duty: some people dread getting called, others welcome the chance to do their civic duty and experience a bit of change of pace from their regular workday. However, when your household employee gets called to jury duty, it can be a strain on your home, and you may need to adjust schedules in order to cover your employee’s absence. When it comes to payment, you might be wondering if they need to be paid while they are on jury duty. Here are the details you should know.
Here are some of the more popular tax deadlines for corporate and other employers in the fourth quarter of 2019. This list is not exhaustive so there may be additional requirements that apply to you.
Topics: CPA
It is a common, but ill advised, practice in the household employment field to negotiate wages on a take home pay basis. We have illustrated many times how parents can get themselves into budgetary hot water when they agree to a take home wage without first doing the math to figure out what the out of pocket costs are too. Similarly, a nanny or senior caregiver who simply negotiates her wage on a take home pay basis often works against her best interest.
Modern businesses must have a good website to remain competitive, even if they aren’t an eCommerce business. Developing and maintaining a site though isn’t always cheap and easy. As these costs can mount quickly, business owners often want to know how to treat those costs when it comes to taxes. This post gives you a starting point for proper categorization of website development costs.
The Internet has become a must-have. It makes our lives easier and gives us the tools we need to research and find information with just a few clicks of a button. However, it also gives people the platform to write what they want to, which can be both good and bad. Because more and more people turn to writing reviews for businesses online nowadays, businesses have had to think about how to best respond to the reviews that are coming in about them. Unfortunately, bad reviews happen occasionally, and your response makes all the difference.
Generally speaking, couples filing jointly are also jointly responsible for the tax obligation of their household. This means that the IRS can go after either spouse for the entire tax obligation, not just the part associated with their earnings. One exception to this rule is called an “Innocent Spouse.”
Retirement planning is a vital part of financial health. Many people use a Traditional IRA to help ensure a comfortable retirement (you can help your household employee too). Building an IRA during your working life is only half the consideration; you should plan for distributions as well.
In the spring of 2019 the Social Security Administration (SSA) started sending out “no-match” letters. These letters are to inform employers that the W-2 given to an employee(s) has information that doesn’t match the agency’s files. Specifically, the information in question is the employee’s name and Social Security Number (SSN).
Virtual currency has had a rapid rise in popularity and thus regulators are still trying to really figure out how to manage (tax) this new form of commerce. Some employers see this as an opportunity to capitalize on the gray area and potentially avoid some tax costs.
