Multiply Saving’s Post

Did you know about this? Here is a really useful article for employers and employees alike. It contains a tip to keep the 60% tax trap on your radar if employee earnings are £90k plus. It also explains many ways that it can be mitigated. I've lots of contacts if advice is needed. #Business Development #SMEs @Mybdeye.com #tax #salarysacrifice

Any business owner looking to grow their workforce should look at the Work Opportunity Tax Credit (WOTC). Find out how it works. Who qualifies? Plus, how it can help you save on your tax bill. #Tax #TaxCredit #WorkOpportunityTaxCredit #Business #Employee #Employer #TaxSavings #Workforce

On Jan. 16, 2024, the Senate Finance Committee and House Ways and Means Committee chairs announced their bipartisan agreement to a tax package that would include several new tax provisions (including an expansion of the childcare tax credit, an extension of 100% bonus depreciation, and several others). However, to offset the costs of these provisions and to address fraud, the bill would also shorten the deadline to claim the pandemic-era Employee Retention Credit (ERC) and impose penalties on ERC accountants and promoters of erroneous claims. 🔗 Read more in this #GTAlert written by Scott Fink, Barbara Kaplan, and Marvin Kirsner: https://buff.ly/3U8cmZA. #Tax #TaxLaw #EmployeeRetentionCredit #TaxProvisions

In today's busy lifestyle, the line between domestic help and employer-employee relationships can often blur. Understanding the legal and ethical responsibilities as an employer, including filing requirements and regulations, is crucial. 👉 Read our latest blog post by Sara Raby, CPA and stay informed. #taxes2023 #householdstaff #taxupdates

The Work Opportunity Tax Credit (WOTC) is a federal tax incentive designed to encourage employers to hire individuals from certain groups who have consistently faced significant barriers to employment. This is a meaningful community incentive, read more about it in our weekly tax blog. #wotc #workopportunity

To avoid getting hit with a surprise tax bill come the end of the next tax year, now is a good time to check your PIR & RWT rates have been set correctly. A number of taxpayers have found themselves with fairly large tax bills. This is likely to be for a variety of reasons, which may include the “extra pay day” issue (years when there might be 53 weekly pays, 27 fortnights or 14 4-week pay periods). If a tax bill is solely attributable to the extra pay day, the additional tax may be written off, but if it is also attributable to having other income without tax correctly deducted at source then the writeoff is not available. https://lnkd.in/gZVi-b4J #tax #paye #extrapayday #extrapay #taxbill #badsurprise

The Internal Revenue Service announced the launch of a new page on IRS.gov explaining the Employer-Provided Childcare Tax Credit, an incentive for businesses to provide child care services to their employees. “This business tax credit helps employers provide their employees with child-care services and facilities,” said IRS Commissioner Danny Werfel. “We’ve heard that some employers may be overlooking this important credit, so the IRS has created a new one-stop shop for information on IRS.gov that provides an easy place to learn more.” Read the full article from IRS here: https://lnkd.in/gZi9QaCa Contact us for your tax and accounting needs! #accounting #business #accountant #finance #tax #bookkeeping #smallbusiness #taxes #payroll #cpa #taxseason #businessowner #incometax #accountants #audit #bookkeeper #taxreturn #taxpreparer #quickbooks #taxconsultant 

Get Tax Credits for Keeping Employees Safe During COVID-19 #childcareandschoolclosures #COVID19relatedquarantine #eligiblewages #employeeretentioncredits #ERCcalculation #ERCdocumentation #IRSmemo #OSHAstandards #taxcredits #workplacesafetyguidelines

The upcoming tax filing season presents a crucial opportunity for Canadians, especially caregivers of loved ones with disabilities, to maximize available credits and deductions. Organizing receipts related to disability or medical expenses, including childcare center tax slips, is essential for optimizing tax returns. Despite the challenges, claiming these credits can significantly impact financial stability, as every little credit counts. Canadians should exercise their rights and utilize available resources, such as this article, to ensure they receive what they are entitled to with the assistance of their accountants.

Did you miss out on your Tax Credit for 2020/ 2021? It’s the "Self-employed Tax Credit" with a maximum of $32,220. Even if you made more money. Plus, you don’t have to repay it and, it’s not taxable. If you're looking for a good tax break, read on. This is the IRS refunding money to those whose work schedule was impaired during the Covid times. NOT for C-Corp or Sub S. I am Skip Knauff and I specialize in helping uncover tax credits for the Self-employed, 1099s, Independent Contractors and Single Member LLC. It’s my goal to educate you as the deadline to apply is upon us. And it’s not the ERC. Watch this 2 1/2-minute Video and learn all the details. https://lnkd.in/dmueX_hm