Just before recessing for the holidays, the House and Senate passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The Act does considerably more than the typical tax extenders legislation seen in prior years; it makes permanent over 20 key tax provisions, including the research tax credit, enhanced Code Sec. 179 expensing, Read More…
When businesses require additional staffing, they hire either an employee or an independent contractor. For an employee, the employer is required to withhold Federal and State income taxes, Social Security and Medicare taxes (which must be matched by the employer), and state unemployment/disability taxes. For an independent contractor, all that is necessary is for the Read More…
The requirements for preparing and filing information returns, such as Forms 1099 and W-2, apply to all businesses, including owners of rental properties. Current IRS Regulations require that information returns be issued to all non-corporate businesses that provide goods or services, to your business or rental activity, aggregating $600 or more during the year. The Read More…
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