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Every employer should be aware of two components of SUTA: the annual wage base and the SUTA tax rate: Annual Wage Base: The annual wage base represents the maximum amount of wages subject to SUTA tax per employee for the year. For 2018, employers in California and Florida pay SUTA tax on the first $7,000 paid to each employee. Alaska, however, imposes SUTA tax on the first $39,500 paid to each worker. Once the annual wage base has been satisfied for an employee, the employer does not owe any more SUTA tax for that employee for the year. SUTA Tax Rate: These tax rates are based on varying factors, with the most common being whether the business is new, the employer’s industry (such as construction versus nonconstruction), and the amount of benefits claimed on the employer’s account. Generally, the more benefits claimed on the employer’s account, the higher the SUTA tax rate, which is why it’s crucial that you keep turnover at a minimum. Not Always Only an Employer-Paid Tax In most states, SUTA is an employer-paid tax. Three states — Pennsylvania, New Jersey, and Alaska — require withholding as well. If you have employees in any of these three states, you must withhold state unemployment tax from their wages at the state-mandated withholding rate and up to the maximum amount of wages allowed for the year.

Could Your Books Withstand A Tax Audit?

Tax audits can be time-consuming, taxing, and possibly expensive. Small business proprietors who might be navigating complex tax policies for the first time or who work in businesses such as restaurants where errors are easy to make are particularly likely to draw unnecessary attention for the IRS.

An audit doesn’t need to be a painful, endless, and invasive process if you follow these tips.

Every employer should be aware of two components of SUTA: the annual wage base and the SUTA tax rate: Annual Wage Base: The annual wage base represents the maximum amount of wages subject to SUTA tax per employee for the year. For 2018, employers in California and Florida pay SUTA tax on the first $7,000 paid to each employee. Alaska, however, imposes SUTA tax on the first $39,500 paid to each worker. Once the annual wage base has been satisfied for an employee, the employer does not owe any more SUTA tax for that employee for the year. SUTA Tax Rate: These tax rates are based on varying factors, with the most common being whether the business is new, the employer’s industry (such as construction versus nonconstruction), and the amount of benefits claimed on the employer’s account. Generally, the more benefits claimed on the employer’s account, the higher the SUTA tax rate, which is why it’s crucial that you keep turnover at a minimum. Not Always Only an Employer-Paid Tax In most states, SUTA is an employer-paid tax. Three states — Pennsylvania, New Jersey, and Alaska — require withholding as well. If you have employees in any of these three states, you must withhold state unemployment tax from their wages at the state-mandated withholding rate and up to the maximum amount of wages allowed for the year.

Year End Accounting Resource Center

This page contains a multitude of year end accounting resources we have gathered from the web and produced internally for our clients. Use the navigation links below to scroll through the page to find the resources you need. If you would like a personalized consultation from one of our small business / QuickBooks accounting experts, please feel free to call (888) 232-4758 anytime, or request a year end review to get started.
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Why Hiring A Virtual Bookkeeper Can Maximize Your Productivity

These days, more businesses are turning to remote bookkeeping services due to technological advancement. For some businesses however, the concept of hiring a virtual bookkeeper is new and terrifying, while for others it simply won’t work. Over the past decade, a shift has occurred within the accounting and bookkeeping industries and the terms “virtual” and...

quickbooks desktop 2017, for both windows and macOS is set to be discontinued on May 31, 2020. Here's what you should know regarding your QuickBooks company file, if you stick with QuickBooks 2017, after discontinuation

Support for QuickBooks Desktop 2017 in 2020: What You Should Know

It’s getting near the End of Life for QuickBooks 2017. For many longtime users, it’s that time of the year. For those of you who have just started using QuickBooks Desktop, you may be wondering what that means. Put simply: anyone still using 2017 will lose access to important add-ons, at the end of May 2020. Also, any live assistance for any inquiry or troubleshooting measure revolving around Desktop 2017 you currently utilize will not be available come May 31. What does this entail? Keep reading to learn exactly what services and apps are affected; and how discontinuation affects your support experience.

top reasons to have out of the box technology as your cloud hosting service provider

Tech Tuesday Recap: Cloud Hosting DIY

We had the privilege of our Director of IT, Chad, sharing pithy tips and practices for you to resolve encounters on your own – when working in our hosting environment, or others.

Such are handy when time is not a luxury; and you need to get work done immediately. Speaking from experience as a support representative, clients call in to tackle items preventing them from finishing their work at inopportune times.

Additionally, waiting to get in touch with a representative is a factor intensifying the experience. As Chad suggested however, contact us for anything more complex than what he presented. Without any further ado, here are cloud hosting tips to resolve common issues in little to no time!

Identify 10 places to look for cash flow problems and how to get more out of your business. Calculate how much cash is leaking from your business using a “Find Hidden Cash In Your Business” Strategy. Learn a method of communicating financial issues with your clients that strengthen your position as a “necessary adviser” to their business. SHARE

10 Ways to Supercharge Cash Flow – Everyone Misses #7

There is a new kind of adviser in the world.  The one who connects with their clients with more than just numbers.  They really care about the personal, professional, and financial well being of others.  If this is you, then you are today’s adviser.  This course goes beyond the ordinary list of usual suspects in solving cash flow issues, and exposes a unique way to see your business through the eyes of the financials.  Learn 10 ways to improve cash flow with real actionable advice on how to execute with your clients.

recur360 strieves to be on top of trends in the industry - by testing features to be adopted in later releases

Recur360 Quarterly Updates

Our developers have been hard at work on Recur360 these last few months. As we ring in the new year, they are excited to share with you what’s new with Recur360. From general integration updates and minor workflow improvements to our major Bulk Update feature, there is a lot to show you! We will also recap some of our client’s favorite features and the main highlights of our award winning, nationally recognized solution!

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