While owning a business can be rewarding, it also necessitates a substantial amount of effort. As your company expands, you will also require employees and manage the monthly payroll system. This means that you must understand that mistakes may frequently result in...
If you are a business that issues paychecks, you need to withhold taxes from your employees before sending them to the government. Payroll tax and income tax are the most common deductions. Two essential parts of payroll management are understanding their differences...
It’s always important to file your taxes on time, so you don’t end up paying the penalty. Of course, if you think you won’t be able to meet the tax deadline, you can always file for an extension ahead of time. But if you have failed to do so, you...
The IRS conducts audits for a variety of reasons. Some are random, while others may be triggered by something suspicious in the tax return or by a taxpayer’s lack of response to previous correspondence from the IRS. Many audits are also part of the limited IRS...
When you file a joint tax return with your ex-spouse, you are jointly and severally liable for any unpaid taxes. The same is true if your spouse gets audited for a tax year when you were still married. But what if you aren’t responsible for the entire tax liability?...
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