In 2020 and 2021, many companies have experienced “workforce fluctuations.” If your business has engaged independent contractors to address staffing needs, be careful that these workers are properly classified for federal tax purposes. Tax obligations The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes […]
If you employ household workers — which may include nannies, babysitters, housekeepers, cooks, gardeners, health care workers and other employees — it’s important to understand your tax obligations, commonly referred to as “nanny taxes.” Here’s a quick review. Which workers are covered? Simply working in your home doesn’t necessarily make a worker a household employee. […]
Managing cash flow is essential to business management. Revenue can fluctuate, and expenses need to be paid on time to maintain a positive working relationship with vendors, utility companies, and employees. Thankfully, there’s a way to know what your cash flow could look like down the road so you can plan appropriately, and forecasting can provide these insights for business […]
Tax compliance is an essential aspect of any business, with sales and use tax making up a large portion of overall tax requirements. However, sales and use tax can get complicated very quickly as each state and local tax has its own rules and nuances. With increased connectivity and remote capabilities, it has become easier […]
The long-awaited $1 trillion Infrastructure Investment and Jobs Act (IIJA) received the U.S. House of Representatives’ approval Friday, November 5, 2021, to provide funding for improvements to highways, bridges, and other road safety measures. The bill also offers plans to reconnect communities previously divided by highway building and expand national broadband networks. According to White […]