How a CPA Prevents You From Messing Up Your Employee’s Paychecks

Payroll, Charlotte CPA

Your small Charlotte-based business is doing well and you’ve hired employees to help you with the workload. Now you’ve got to keep a regular payroll in order to compensate your employees for their labor. It’s a relatively straightforward process of calculating their hourly wage times the hours they’ve worked, but you also have to factor in FICA and state payroll taxes. Accounting programs are capable of doing this for you, but they rely on the user having knowledge of federal and state laws regarding payroll deductions. If you’re lacking in this knowledge, you can run into trouble with the IRS and the North Carolina Department of Revenue. Working with a Charlotte, NC business accountant for payroll can help you avoid trouble.

The Tax Responsibilities That Come With Working as a Freelancer

Freelance work and taxes

The gig economy is growing with each year as more companies turn to using casual labor instead of hiring people to work for them as wage earners. Companies absolve themselves of the need to pay employment taxes while benefiting from the labor supplied by a contractor. The responsibility for paying these taxes falls squarely on […]

What do I need to prepare for EOY taxes?

tax season

As the year winds down, whether you prepare your own taxes, or have someone do them for you, it’s important to make sure you’re prepared for your EOY taxes.

Is it time to get a Payroll Service?

For many entrepreneurs, having employees is a blessing and a curse, especially when you are paying them! Here are 3 benefits to using a payroll service.

Employees or Independent Contractors?

More and more new business owners are utilizing independent contractors instead of hiring employees. Sure, there are many benefits of independent contractors, i.e. no benefits, less tax liability, no equipment cost, but knowing what works well for your business is essential to choosing the right type.