2013 Christmas & Holiday Bonuses
If you are having trouble figuring out how to calculate end of year bonuses you are not alone! Here are some quick tips: Holiday Bonus (cash or gift cards) You must treat all cash bonuses, including Gift Certificates (“cash in kind”) as taxable wages, no matter...
End of Year Payroll To-Do List
Remind employees that if there has been a change in their filing status due to a marriage, divorce or dependents that they may want to file a new W-4 for 2014. Check to be sure that employee paycheck names/SSNs match their Social Security cards and W-4 Data....
Common QuickBooks® Mistake in the Undeposited Funds Account
A common mistake I find many QuickBooks® users make is with the Undeposited Funds account. When you create a new company file, QuickBooks® automatically creates the Undeposited Funds account. It acts like a holding account similar to a cash drawer until you go to the...