As a business owner, whether your business is large, moderate, or small, it is still your responsibility to correctly handle payroll and employment taxes. This is one of many reasons why you should seek payroll tax debt relief representation by hiring our experts when seeking 941 tax help. Did you know that in the US, one of the main reasons why business owners are often forced to hire tax attorneys, CPAs, or EAs is because they are deemed as being liable for payroll tax debt. This is often only the beginning because they may then struggle with paying back the tax loans they took out for their payroll taxes, creating a snowball effect when the bills just keep getting bigger and bigger. If you are seeking payroll tax debt relief help, or simply want tax help regarding your payroll tax representation, here are some useful tips surrounding payroll tax, to help keep you, your business, and your employees’ heads well above water.
Get a free 941 payroll relief evaluation by calling us at 877-788-2937
Be clear on what the IRS classes as income – As you probably know, wages that you pay to your employees are classed as income, but is there anything else? Well, actually, yes there is. You see, if you were to send a gift card to an employee for the holidays, or as a thank you, that too is income. If you pay for their fuel with money from the business account, that too is income in the eyes of the IRS, and so on. To avoid any issues, it is best to keep records of pretty much everything you have given out, even if it wasn’t technically money-related at all.
Take care of new employee info right away – Another reason why so many business owners often seek out payroll tax representation is because they fail to fill out employee details correctly. Hiring a new employee, while being exciting, is also fairly complex, especially as you have a business to run at the same time. Despite this however, sit down with them and ensure you fill out their info correctly, and get it sent off right away. Get their tax details correct, issue them with a Withholding Allowance Certificate, or W-4, and ensure that the info filled out is 100% correct. Fiduciary 941 payroll tax debt relief is possible by calling us at 877-788-2937.
Seek advice from tax experts – When it comes to matters regarding payroll tax debt relief representation, and any other tax planning services needed, it is always best to seek advice from our tax experts that earn a living from dealing with taxes on a daily basis. Our experts deal with tax levy queries, we can advise you on tax lien matter, and of course, they can offer you all of the payroll tax debt relief representation and advice that you will ever need.
Never miss payments – Remember, as a business owner, it is your responsibility to make any payments and payroll deposits to the IRS on time, every time, without fail. Smaller businesses may have to make these deposits a couple of times per year, whereas larger companies may need to make payments for payroll taxes once per week in some cases. This is yet another reason why you should seek payroll tax debt relief representation and should hire our firm to handle your taxes and accounts for you.
Get a free 941 payroll relief evaluation by calling us at 877-788-2937
About Mike Habib, EA NTPI Fellow®: Former Dave Ramsey ELP 2012-2019Mike Habib is an IRS licensed Enrolled Agent who represents taxpayers seeking 941 payroll tax debt relief representation in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, NYC, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.