Independent Contractor or Employee?
The distinction between an independent contractor and an employee is an important one to make for both employers and workers. Employees only pay their half of payroll taxes (which is typically withheld from their paycheck by the employer) while independent contractors must pay both (employer and employee shares). If an employee is incorrectly classified as an independent contractor, the business can be held liable for employment taxes for that worker as well as any late fees or penalties.Continue Reading
IRS Releases Annual Inflation Adjustments For Tax Year 2018
The IRS has released the annual inflation adjustments for tax year 2018 for more than 50 tax provisions. A full listing of inflation adjustments for tax year 2018 can be found in IRS Revenue Procedure 2017-58.Continue Reading
Hurricane Irma Tax Relief
Updated September 25, 2017
Victims of the flooding and storms in Florida and Georgia now have additional time to file time-sensitive materials with the IRS. The designated disaster area covers the following counties:
All countiesContinue Reading