What to Know when Hiring a Tax Service Company...

If you are like most people, you dread the process of filing returns. For many people, this is due to the complicated calculations involved while for others finding the time for this task is difficult. The good news is that you can hire a tax service company in Denver to handle your tax preparation. There are several factors that you should keep in mind when hiring a tax preparation service provider. For starters, it is important to be clear on your reasons for hiring the tax service company. As a business owner, there are various reasons why you would be looking to outsource tax preparation services. For most companies, the main reason is because they would rather have the process handled by professionals who know what they are doing. It is also cheaper to outsource a tax preparation provider as compared to having an in-house accountant. If you are hiring a tax preparation company in order to save on the overall cost of tax preparation, you need to understand all the costs involved. This way, you will be able to determine whether you are actually saving on the cost. Even though you will be shifting the tax preparation responsibility to the professionals, you should not be ignorant of the process. It is a lot easier for you if you take the time to understand what the process of filing returns involves. You can therefore be able to gauge whether the tax service, is giving you value for your money. Usually, what you need to do is get your documents in order and send them to the outsourcing firm and leave the rest to them. The documents in question are the 1099s, the W-2s and the K-1s. Before you hire a tax service company, you...

How to Get Ready for Tax Preparation Near Atlanta, GA...

As an individual, there are many times when it is easier to just put off taxes until April of the next year. Yet, if you manage and organize your finances now, you may find the tax preparation near Atlanta GA, is easier to account for your needs without delays. The key here is to be organized and ready to go before the year ends. Your tax professionals can help you to do just that. How to Make the Process Easier Many people just do not like the process of completing their taxes. Using tax preparation near Atlanta, GA is a critical step in ensuring that you get the best possible outcome in your situation. Yet, many people still put it off and wait until the last minute to get help. To avoid this, consider a few tips. For example, create a system for collecting financial data that works for you. It could be online in a cloud, or it could be physical documents in a folder. The key is to find a system that works and then to use it consistently. You also want to meet with your tax professional around the middle of the year or in the third quarter. This is a good time to talk about your financial standing with your team so that changes can be made if you are paying into the IRS too much or too little.  With the resources that tax preparation Near Atlanta, GA, can offer to you, it is easier than you may realize to get the help you need. Take a closer look at all the resources available to help you get organized. Be the first to like.VN:F [1.9.22_1171]please wait...Rating: 4.0/5 (1 vote...

Taxes You’ll Have to Pay as Part of Your Business’s Regular Payroll...

The United States Internal Revenue Service (IRS) requires businesses engaging in commerce within the United States to pay taxes. If you didn’t already know, income taxes are not the only kind of tax that businesses are required to fork over. One of these taxes, which only applies to businesses with employees, is is payroll taxes. The following taxes are a few types of payroll taxes required to be submitted to the IRS by employers across the United States. Federal Unemployment Tax All employers must pay federal unemployment tax (FUTA) if they paid more wages than $1,500 in any single quarter’s time or if they worked employees for any amount of time in at least 20 weeks out of the year. Keep in mind that there are two other tests for household and farm workers that such employers should never overlook in fear of penalties from improper payroll tax filing in Marietta, GA. For the year of 2019, employers must pay 6% of workers’ first $7,000 earned during each year. Social Security and Medicare Taxes Social Security is a public program that pays qualified seniors’ monthly disbursements. Medicare is another social program that seniors, low-income, and disabled people are eligible for that pays for their healthcare expenses. To fund Social Security, employers must pay 6.2% of workers’ wages up to $132,900 of earnings in 2019. For Medicare, businesses fork over 1.45% on all their employees’ earnings. Workers paid more than $200,000 have 0.9% of their earnings saved by employers to pay additional Medicare tax – keep in mind that businesses do not fork over their own money for this type of tax. Self-Employed Tax If you own a business and work for it, you are self-employed. You are responsible for paying 15.3% of your earnings...