If you’ve made an error on your business’ or organization’s tax return, the federal government requires you to send in an amendment to correct and update your filing. It’s important to make these corrections as soon as you can, in case the IRS audits your business — whether at random,… [Read more]
What To Do If You Couldn’t Pay Your Business Tax On Time
Even if you pay your estimated quarterly taxes every three months, you may still owe more taxes than expected for the full year. In some cases, this happens because your business earned more than you initially estimated it would. While unexpectedly high revenue is usually good news, it may not… [Read more]
What Are Back Taxes and How Do They Affect My Business?
Back taxes occur when business or personal taxes are not filed and paid in full by their due date each year. They continue to accrue interest for as long as they remain unpaid, and many can incur a number of additional penalties as well. Here are some of the serious… [Read more]
6 Tax Code Updates for 2018 That Could Affect You
Millions of Americans overpay on their taxes each year, simply because they don’t understand how the system works. Since new tax reforms were passed in December 2017, it’s more important than ever to understand how the tax system could affect your finances. With updates to everything from the dedufctions you… [Read more]
Get a Head Start on the New Tax Laws for the 2018 Season
The April 2019 deadline for filing your 2018 taxes probably seems far in the future, but if you start preparing for the filing process now, you’ll save yourself a lot of stress closer to the deadline. Here’s a handy guide to the new tax laws, the paperwork you need, and… [Read more]
6 Mistakes to Avoid When Filing Your 2018 Taxes
Understanding tax rules is complicated. In 2018, the launch of the new tax reform means that US citizens now have a host of unfamiliar rules and regulations to keep up with — beneficial or not, any change in the rules can increase the stress involved with tax season. Already, millions… [Read more]
4 Consequences of Unpaid Business Taxes
Millions of dollars in penalties are doled out by the IRS each year, the majority of which are attributed to businesses that failed to file taxes or pay payroll taxes. With this in mind, it’s important to understand compliance to ensure your company steers clear of costly violations. There are… [Read more]
5 Common Mistakes Businesses Make When Filing Taxes
We all make mistakes. But in the tax world, even the smallest mistake could cause a huge problem for your business. An error or problem with your tax return could mean late processing — which could result in a delayed refund — an IRS audit, or even filing penalties. Business… [Read more]
What is Corporate Tax Compliance?
For any business to succeed, it must follow the laws and regulations associated with it. Your business stays compliant when all employees — from the CEO down — are aware of what laws the company needs to adhere by. It’s essential to build a culture of compliance. Leaving the responsibility… [Read more]
What to Expect from Your Upcoming EDD Audit
The State of California’s Employment Development Department (EDD) is responsible for collecting employment payroll taxes to fund and administer unemployment and disability insurance, paid family leave, and other state programs. Beyond tax collection, the EDD also has the authority to issue audits to anyone operating a business within California. The… [Read more]
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