Section 179 of the U.S. tax code offers a tax incentive to small and medium-sized businesses by allowing them to take a full deduction on tangible assets in the year items were purchased and put into service. The cost of such major purchases would generally have to be depreciated over time, but using the Section […]
Category: Small Business
Theft in the Workplace: How to Identify and Stop It
No matter what type of business you run, you’re vulnerable to employee theft motivated by greed, anger, dissatisfaction, or an “above the rules” attitude. Which of these ways employees steal are areas of vulnerability for your business? Payroll theft: Are your employees really working the hours they claim to be? Do you have controls to […]
Don’t Leave Money on the Table: A Guide to Business Tax Deductions That Can Save You Big
One of the worst things we can do as taxpayers is assume we know everything. There’s always more to learn, and as much as you might know about taxes, you may be missing out on key tax deductions just because you haven’t heard about them. Tax deductions to consider Believe it or not, there are […]
Unlock Payroll Efficiency with the Right Manager
What does a good payroll manager look like? Someone who is strong in both numbers and people skills. Being adept at both is not always easy, and companies often look for someone who is good with data. But a good payroll manager needs to communicate and collaborate with many different people and layers of the […]
W-2 Mistakes: How to Avoid Costly Penalties
In many ways, Form W-2 is simple and straightforward: You enter information that is already available from payroll and personnel records. You then use your employer identification number and, in most cases, a state ID number to complete most of the form. The main challenge comes when entering this data accurately into the fields on […]