Small Business

The law rquires you, the employer to verify that each new employee is legally eligible to work in the United States. Both the employee and the employer must fill out INS Employment Eligibility Verification Form I-9. In addition to Form I-9, each new employee must fill out IRS Employee's Witholding Allowance Certificate Form W-4.

Use Employer's Annual Federal Unemployment Tax Return Form 940. Use IRS E-file to file and EFTPS to pay. Go to IRS.gov to E-file and www.eftps.gov or call 1-800-555-4477 to call for EFTPS The Federal Unemployment Tax (FUTA)is reported and filed separately from the Employer's Quarterly Federal Tax Return Form 941.

The Federal Unemployment Tax (FUTA)is reported and filed separately from the Employer's Quarterly Federal Tax Return Form 941. Use the Employer's Annual Federal Unemployment Tax Return Form 940.

Yes. There are different penalty and interest calculations incurred for not filing timely, not paying and not paying timely, or when a balance due exists. You will want to avoid the failure to file by the due date when a balance due exists penalty. Therefore, file the tax return by the due date and pay whatever you can at that point in time to minimize your total penalty and interest calculations.

Federal and state laws prohibit prospective employers from asking certain questions that are not related to the job they are hiring for. Questions should be job-related and not used to find out personal information. In general, employers should not be asking about your race, gender, religion, marital status, age, disabilities, ethnic background, country of origin, sexual preferences or age. Some questions you should not ask during an interview are: Do you have any disabilities?, How old are you?, What is your religious affiliation?, What is your ethnic background?, Are you married?, Do you have children?, or What is your sexual orientation?.

You should require all your independent contractors to fill out IRS Form W-9. Their social security or employer identification number will be listed on this document for your use on required forms to be filed with the IRS and other taxing authorities. A penalty can be levied against you, the employer for omission of this information on certain forms.

Plan sponsors must generally file the return on the last day of the seventh month after their plan year ends (if that due date falls on a Saturday, Sunday or Federal holiday, then it may be filed on the next business day). Forms 5500 and 5500-SF must be filed electronically through the DOL’s Employee Retirement Income Security Act Filing Acceptance System (EFAST2). Use Form 5558 to request a 2 and a half month extension.

No. You are allowed the maximum allowed expense amount of the Section 179 deduction even if you purchase the equipment and place it in service on the last day of the taxable year.

You must obtain the consent of the IRS prior to any changes in your accounting method. Use IRS Form 3115 to apply for this consent. File your application as soon as possible during the tax year.