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Payroll Tool Includes Stimulus Bill Tax Changes
The stimulus package that was just signed into law includes a number of tax credits for small and midsize companies. Now Intuit Payroll aims to make sure smaller-business employees receive the maximum tax benefits they're entitled to.
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The stimulus package that was just signed into law includes a number of tax credits for small and midsize companies. Now Intuit Payroll aims to make sure smaller-business employees receive the maximum tax benefits they're entitled to.A lot of tax changes have occurred this year. In particular, the recently enacted stimulus bill added, extended, and enhanced tax breaks for small and midsize companies. It's a lot for a smaller business to take in. Considering an honest mistake might cost plenty in penalties, tax law changes can make a business owner quite nervous, especially if that owner doesn't have an accounting staff. And on the flip-side, not being aware of all the changes can mean employees will miss out on tax benefits.
Don't Miss: Tax Season Tips For Your Business
Intuit Payroll is aiming to ease some of the burden of small and midsize businesses by taking care of the required changes on tax tables, withholdings, and payroll tax forms. Intuit Payroll Services is accommodating the stimulus package in the following ways:
Intuit automatically updates tax tables to reflect the government's Making Work Pay tax credits.
It also updates several tax forms, such as Form 941, the Employer's Quarterly Federal Tax Form, for reporting new COBRA premium assistance payments.
Finally, employers can check out the latest changes that affect payroll at www.usepayroll.com/stimulus.
Intuit Basic Payroll costs as little as $100 per year.
Tax law changes and the Sarbanes-Oxley Act have caused plenty of headaches among companies -- smaller ones, in particular -- because they aren't always able to employ bookkeeping specialists. bMighty feels your pain and has covered a number of tools that can make it easier to comply with the laws. Don't miss these articles:
"Compliance Tools Filter Down To Small And Medium Sized Businesses" -- LogLogic appliances for initiatives, such as the Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry (PCI), and Sarbanes-Oxley (SOX).
"Q&A With Kevin Reeth Of Outright: Using SaaS For Bookkeeping And Tracking Tax Deductions" -- Bookkeeping tips and tools to ensure you don't miss a thing, including valuable deductions.
"Tax Season Tips For Your Business" -- The latest in tax law changes, including those imposed by the stimulus bill, as well as how to avoid, or survive, an audit.
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