2 min read
6 Essential Tips for Small Business Payroll Tax Compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal...
Small Business Blog
Accounting and payroll resources for small business owners.
Easily filter through articles and find what you want to learn below.
Valuable Business Articles & Updates
Payroll
2 min read
Questions About Taxes and Tips? Here Are Some Answers for Employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants,...
4 min read
Department of Labor Updates Rules on Worker Classification
Navigating Worker Classification: How to Keep Your Small Business on Track with the Department of Labor's New Rules If you're a small business owner...
3 min read
Paying Out Tips - Daily, Weekly, Payroll?
Do you remember your first day of work at your job? I remember being equally excited for the new adventure and anxious about how well I would do. I...
3 min read
IRS Explains the Differences Between Tips and Service Charges
Employers in restaurants, hotels, casinos, and other service industries must comply with the tax rules associated with tips. To assist them, the IRS...
3 min read
How Long Do You Have to Retain Payroll Records?
The Social Security Administration and the IRS have issued a joint publication that offers valuable pointers for employers who want to clean up their...
3 min read
How to Protect Your Business from Payroll Fraud Schemes
Payroll fraud threatens any business that pays employees or contractors. Unfortunately, this type of financial crime can go undetected for...
2 min read
Can Your Company Revise its Payday Schedule?
Paydays are sacred in the workplace. Some employees who can't remember how many years they've been married or how long it's been since their last...
3 min read
Keys to Avoid Payroll Tax Trouble
What would happen if your company failed to pay the IRS payroll taxes when they were due? You could be on the hook for penalties and, if you're...
2 min read
Clear Overtime Policy Saves Money
It's not enough to have a one-sentence statement in your employee handbook that merely tells your employees something like this: "All time worked...
1 min read
The Value of Using One Service Provider for Accounting, Payroll, and Taxes
Navigating the landscape of accounting and payroll decisions is an essential choice for small business owners. There are advantages to bringing these...
1 min read
Payroll Deduction IRAs Are a No-Cost Benefit
If you've considered setting up a retirement plan for your employees and decided it was too costly or too much trouble, there is an alternative. No...
3 min read
LLC: A Blueprint to Limit Liability and Cut Taxes
There is generally no one legal structure that works best for all businesses. The most favorable choice depends on a number of factors, including the...
2 min read
The IRS Has Announced Increased Retirement Plan Benefits for 2024
With the 2024 tax year right around the corner, there's good news coming from the IRS. According to a recent announcement from the tax agency (Notice...
2 min read
Be a Hands-On Owner to Maximize Profits
Over the years, McDonald's has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started...
2 min read
Year-End Bonuses: Tax Issues for Employers and Employees
The holidays are often referred to as "the most wonderful time of year" — and, for some people, that's due in part to their year-end bonuses. While...
2 min read
Leveraging the Power of Your Company's Managers
The strength of every business is its people. But if your top managers aren't getting the most from their respective teams, your company is operating...
1 min read
Tips to Boost Hiring Success
It's the goal of every boss: Hire the right person to fit the right job. To achieve this goal, put more time and energy into a job analysis, which...
2 min read
Advantages of Group Term Life Insurance as an Employee Benefit
Tax-favored fringe benefits can help your business attract and retain skilled workers. One benefit that's been around for decades and is typically...
2 min read
What Makes TMA Accounting Different from Other Accounting Firms?
Each accounting firm or service provider has their own way of operating and serving their clients. While the goal for each is ultimately the same,...
2 min read
What Services Does TMA Accounting Provide?
In the ever-changing landscape of running a small business, having a relationship with a reliable accounting firm can be a great asset to your...
2 min read
10 Payroll Issues for Small Businesses
You may not think of your small business's payroll function as risky. But if you don't properly handle certain payroll challenges, you may risk IRS...
3 min read
What Employers Need to Know About Payroll Tax Responsibilities
As your payroll staff or provider can likely tell you, your organization is responsible for meeting several types of payroll tax obligations...
1 min read
Squeeze More Out of a Company SEP [Simplified Employee Pension Plan]
If you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a...
2 min read
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up...