August 2010 -

Business Owner’s Relatives May Qualify for New Payroll Tax Breaks

By QuickBooks Expert|2022-08-18T08:47:26-04:00August 20th, 2010|Taxation|

The Hiring Incentives to Restore Employment Act (the HIRE Act) includes two temporary payroll tax breaks intended to boost hiring. An interesting point about these breaks is that they could be claimed for a business owner's newly hired spouse. They might also be claimed for wages paid to other newly hired relatives of a minority [...]

Worker Classification Issues

By QuickBooks Expert|2022-08-18T08:47:27-04:00August 10th, 2010|Taxation|

One of the most common areas of contention between the IRS and businesses is the issue of worker classification. If a worker is an employee, the business is responsible for payroll taxes and fringe benefits. However, if the worker is an independent contractor, the business is generally not responsible for payroll taxes. The IRS estimates [...]