Paper Trails


Tag: taxes

How do I handle S-Corp Shareholder’s Health Insurance

When diving into the world of S-Corporations, one might come across the term “2% shareholder.” This term, while seemingly straightforward, carries with it specific tax implications, especially when it comes to shareholder’s health insurance benefits. In this article, we’ll break down who these 2% shareholders are and how their health

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What is required of a massachusetts employer?

What is required of a Massachusetts employer?

Owning and managing a business is an incredibly rewarding endeavor, but it also comes with its fair share of challenges. Beyond the day-to-day operations, there are numerous aspects to consider, especially when it comes to human resources and compliance. As an employer in Massachusetts, it’s crucial to navigate both state

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maine employer

What is required of a Maine employer?

When you operate a business, there are many regulations that you must follow.  Both federal and state governments regulate what businesses need to do to stay in compliance.  In this article, we will review what is required of a Maine employer. Federal requirements of employers Before we dive into Maine

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top questions

The Top Payroll Questions Your Employees Will Ask You

As a business owner, HR director or office manager, you are bound to get asked question after question about your company’s policies and payroll practices.  Continue reading to learn the important questions an employee will ask you and how you can answer them. What is the difference between gross and

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Common IRS Notices

Common IRS Notices As a business owner, receiving a letter in the mail from the IRS can seem like a bad thing. You may immediately think that you are being audited, you made a mistake on your payroll taxes, or that you owe thousands of dollars in penalties and fines.

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Common W-2 mistakes to avoid

Common W-2 mistakes to avoid Every business that has at least 1 employee has to provide an IRS Form W-2 to each of its\’ employees. The W-2 reports employees\’ annual taxable wages and the amount of payroll taxes withheld from those wages. Inaccuracies or errors on these forms can result

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What to do with manual or voided checks

What to do with manual or voided checks When running a business there may be times when you will need to manually write an employee a check. This is especially true for small businesses. If this happens, it is important you know what to do with those manual or voided

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Common payroll mistakes to avoid

Common payroll mistakes to avoid Making mistakes in your business’ payroll process can cause unwanted problems. From increasing your workload, to costing your business additional money, and even upsetting your employees, mistakes can be crippling for a business. There are a handful of everyday errors that your business can easily

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What is PFML?

What is PFML? Your employees may encounter a situation where they have to take time off from work to care for, or deal with, a medical situation. As an employer, are you allowed to terminate an employee after a certain period of missed time? Are you required to pay employees

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Things to consider when selecting a payroll software

Things to consider when selecting a payroll software A priority of all businesses should be automating the payroll process. Whether a small business with 5 employees, or a large business with 500 employees, using software to pay employees has many advantages. Some advantages include reducing administrative burden, improving financial health,

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