Written by Jeffrey D. Davine The new COVID relief bill extends (and modifies) certain provisions that were included in the CARES Act that was enacted in March. This legislation, signed by the President on December 27, will provide $900 billion of additional financial assistance to individuals and businesses that have been affected by the pandemic. Among the provisions contained in the new legislation is funding for additional … Continue reading New COVID Relief Legislation Provides Tax Benefit
Companies who rely on third-party vendors to make their federal and state payroll tax deposits need to be diligent when selecting the vendor. A bad choice can be very expensive.
Processing payroll and remitting the required federal and state income and employment taxes to the appropriate government authorities is burdensome. As a result, many companies delegate these tasks to a third-party payroll company. In most situations, this arrangement works out well. The payroll company withdraws the required funds from the company’s bank account and ensures that employees and the various government agencies are timely paid. This allows company management to focus on more important things, such as satisfying its customers/clients and making money. Continue reading “Using an Outside Vendor to Process Payroll Has Risks”