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Archive for the ‘News’ Category

05
Jan

Many small business owners have never heard of trust fund taxes until they receive a Proposed Assessment of Trust Fund Recovery Penalty.  These are the Social Security, Medicare and income tax employers withhold from their employees’ paychecks “in trust” for the federal government.  Social Security and Medicare make up what’s often referred to as FICA […]

29
Dec

As I’ve received calls from clients who have been hit with large bills for back sales taxes from New York State, it has become evident that the small business community is in need of education on how to comply with sales tax laws. Apparently, many business owners believe that if they do business in cash, […]

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