Payroll taxes are a critical component of running a business. These include federal income tax withholdings, Social Security and Medicare taxes (FICA), and federal unemployment taxes (FUTA). When businesses fail to properly collect or remit these taxes to the IRS, the consequences can be severe. Unpaid payroll taxes don’t just lead to financial penalties—they can trigger audits, legal action, and even personal liability. What Are Payroll Taxes? Payroll taxes are… Read More
3 Ways to Receive Payments in QuickBooks Online
Got customer payments coming in? QuickBooks Online has multiple ways to accept and record them. One of the biggest challenges small businesses face is managing a steady cash flow. Keeping income ahead of expenses is a constant balancing act. QuickBooks Online can help. With easy-to-use forms and a convenient mobile app, it helps you track and deposit incoming payments with ease. Do you ever receive instant payments for certain products… Read More
Self-Employed? Stay on Top of Your Taxes
If you are self-employed, it’s really important that you fully understand your responsibilities when it comes to paying taxes. Here are some tips that can help you stay on track and out of any disputes with state and federal tax officials. Income Taxes As a sole proprietor, you are not required to file a separate income tax return for the business. However, you must summarize your business income and expenses… Read More
How to Properly Manage Your Business Cash Flow
Cash flow is the lifeblood of any business. Regardless of how innovative your product is or how many sales you generate, if there’s not enough cash available to cover day-to-day expenses, your business could quickly find itself in trouble. Managing cash flow effectively ensures your company remains financially healthy and resilient during economic ups and downs. Here’s a comprehensive guide to help you properly manage your business cash flow. 1…. Read More