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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Understanding Expenditures in Payroll

July 18, 2019 by OSYB Staff

If you read our previous post, ‘Need Help Calculating Your Payroll?’, here are some other important factors to understand when calculating payoll that Intuit Quickbooks shares: Remuneration is how your employees are compensated for their labor. Your employees and your business will be taxed on remuneration. Therefore it is vital that detailed attention is placed […]

Interesting Facts About Payday

June 4, 2019 by OSYB Staff

Intuit QuickBooks surveyed 1,000 employees over the age of 18, all over the country from different businesses, and asked them questions about their thoughts and feelings on payday. Here are some of their interesting findings: Friday is the most common payday with a response of over 53% with 44% of respondents reporting being paid every […]

What’s the Status of Your Payroll Flow?

April 30, 2019 by OSYB Staff

“The State of Small Business Cash Flow”, a global study shared by Intuit last month, studied the behaviors, attitudes, and status of cash flow challenges of small business owners and the self-employed. The study revealed that two-thirds (61%) of small businesses have had cash flow issues. As a result of this, nearly a third (32%) […]

New I-9 Form Effective January 22, 2017

January 18, 2017 by Ed Becker

The Department of Homeland Security has released a revised I-9 form that is effective January 22, 2017. Any prior I-9 forms are no longer to be used. Generally, each employer needs to obtain a I-9 for each employee he or she hires. These forms are required from each hired employee to be completed within 3 […]

Last Quarter of an Election Year- Concerns of Small Businesses

October 31, 2016 by Ed Becker

The final quarter of the year is typically spent gearing up for the holiday season, and finding as many tax breaks as possible. During this tenuous election year, small business owners are more concerned about the economy and about how the election results are going to affect their business. Small business owners are concerned, and […]

Are Holiday Bonuses Taxable?

December 5, 2012 by Ed Becker

Every year I receive questions on what to do for bonuses for employees.  It appears that everyone has there own ideas on how to handle bonuses and whether they are taxable. Short answer: Bonuses are taxable to your employees, but deductible expenses for your business.  For a longer answer, including the best way to handle […]

Payroll Tax Cut Extended into 2012…Temporarily

December 30, 2011 by Ed Becker

Feds Approve Payroll Tax Cut Extension Nearly 160 million workers will benefit from the extension of the 2011’s reduced payroll tax rate into 2012. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from […]