The IRS has released their latest list of events and resources that provide small business with current information about tax policy essential to keeping business finance procedure up to date. Check out what they are offering.
Understanding the Affordable Care Act and Washington State’s Health Benefit Exchange
The Affordable Care Act (ACA) is moving closer to full implementation. Washington State has chosen to establish a Health Benefit Exchange, a marketplace where individuals and businesses can shop for insurance plans. The business marketplace is called SHOP (Small Business Health Options Program). The SHOP is for companies with fewer than 50 employees and opens on October 1, 2013. Enrollment for individuals opens October 1, 2013 and ends March 31, 2014. This is a good opportunity to learn about significant changes to health care delivery and what they mean for business and employees.
When: Monday, August 5 — 9:00 a.m. to 11 a.m.
Where: Environmental Services Building, 9850 64th Street W., University Place, WA 98467
Register Online or call Hans Kueck at: 253.798.2335
New Business Tax Workshops – Washington State Department of Revenue
Learn the basics of Washington State taxes. This free workshop will help explain tax reporting responsibilities. Tax reporting classifications, deductions, sales tax collection, and record keeping requirements will be discussed. There will be an opportunity to ask questions regarding taxes that apply specifically to individual business. To find out when the next workshop will be held in your area, and to register, click here.
Can’t attend a workshop in person? Watch an online workshop or tutorial.
Tips for Employers Who Outsource Payroll Duties
Many employers outsource their payroll and related tax duties to third-party payers such as payroll service providers and reporting agents. Reputable third-party payers can help employers streamline their business operations by collecting and timely depositing payroll taxes on the employer’s behalf and filing required payroll tax returns with state and federal authorities. Though most of these businesses provide very good service, there are, unfortunately, some who do not have their clients’ best interests at heart. Over the past few months, a number of these individuals and companies around the country have been prosecuted for stealing funds intended for the payment of payroll taxes. Examples of these successful prosecutions can be found on IRS.gov.
Like employers who handle their own payroll duties, employers who outsource this function are still legally responsible for any and all payroll taxes due. For an overview of how the duties and obligations of agents, reporting agents and payroll service providers differ from one another, see the Third Party Arrangement Chart on IRS.gov. The full article lists some steps employers can take to protect themselves from unscrupulous third-party payers.
Here are some steps employers can take to protect themselves from unscrupulous third-party payers.
IRS Has Updated Online Small Business Tax Workshop
The Internal Revenue Service has updated one of its most popular tools, the virtual small business tax workshop. We’ve also renamed it … Small Business Taxes: The Virtual Workshop. The online workshop now has updated content, enhanced navigation, interactive features and a completely new look and feel. The nine interactive lessons still provide training for small business owners who want to learn about their tax rights and responsibilities.
Get All the Tax Benefits You Deserve
Find out if you are taking out all the deductions you’re entitled to, and what business tax credits you’re eligible for. Watch this one hour webinar and find out!