Managing a company’s finances is a major responsibility. But what happens when a simple payroll tax oversight spirals into a massive IRS dispute? The fear of personal liability can be paralyzing as you wonder if your career – and financial future – are at risk....
Business & Corporate Taxes
Avoid common payroll mistakes to prevent tax issues
Small business owners in Georgia may not have as many employees on the payroll, but that doesn’t keep them safe from some of the most common payroll mistakes. Making these mistakes can lead to tax problems, which in turn could create a situation where one is facing an...
I am a contractor, what happens if I do not pay my taxes?
One of the benefits of being a contractor is control. As an independent contractor you get to control what type of work you take on, when you complete the project, and the methods you use to get the job done. You also get to set the price and lead negotiations for...
Getting ready for your business’s first audit
Starting a new business always has ups and downs. As your business gets through the first year or two, you will experience the complex process of maintaining your company’s financial and tax records. While you may know that you could eventually experience an audit, it...
What happens if the DOJ thinks I evaded business taxes?
Small business owners need to know their market, their product and how to keep their customers happy. They also need to know how to follow local and federal regulations. These extend to include tax laws. Unfortunately tax laws are not always easy to follow. But what...
3 tips for small businesses looking to file taxes
Filing taxes is never fun, but this year poses challenges that make it particularly difficult — especially for small businesses. Many can benefit from the following tips: #1: Consider an extension. If you filed this can remove the time pressure of getting the forms...
What happens if I don’t file payroll tax returns?
Business owners know that to scale to meet market needs, they likely need to hire workers. When taking this step, it is important to keep tax considerations in mind. Whether a new business or one that's been around for a while, the Internal Revenue Service (IRS) will...
4 of the biggest mistakes payroll bookkeepers make
When you hire a bookkeeper to take care of your payroll, you expect them to do the job properly. Unfortunately, even professionals can make payroll mistakes that have significant consequences. Payroll mistakes can be significant, as they might run afoul of tax law or...
A common employment practice could lead to major tax liability
You started a company largely to generate profit and possibly to pursue your passion. Especially if your company has irregular or sporadic scheduling, maintaining a staff of full-time employees may not be realistic. Some companies get the talent they need by working...
Signs you need a new accountant — fast
Nobody wants to deal with an audit by the Internal Revenue Service (IRS). To that end, it’s not unusual for businesses of all sizes to have an accountant handle their financial records and prepare their taxes. That’s great — as long as you can trust your accountant to...