Bluebird Bookkeeping is invested in our client’s success. We partner with them to ensure they are up to speed on the requirements and laws that might impact them.
Below you’ll find relevant and current information which might impact your business. We want to make sure you have the resources readily available to handle whatever might come your way – our newsletter is also a great way to stay current on accounting news and action items – a link to our archived newsletters can be found below.
Payroll Resource Links
Looking for payroll taxes information? Visit Payroll-Taxes.com today for the latest resources on state tax, federal tax, income tax, and more.
As an employer, it’s wise to register with the IRS’ electronic payment systems, EFTPS – to register please visit the EFTPS website.
For California-based employers, EDD services online allows you to view your current employer rates, tax balances due, and make payments.
If you’re interested in your current California Unemployment Insurance (UI) rate, which varies by company, visit the EDD website.
With all the tax and compliance services that Gusto provides, it’s easy to forget that the government requires some additional info from you. This is a checklist of items to make sure you’re compliant with the key federal and state employment regulations.
We are proud to be listed in the Gusto Partner Directory. Please visit the Gusto website and contact us for further information about our assistance with the Gusto Payroll System.
California Specific Resources
General information for San Francisco-based businesses.
San Francisco employers are required to register/renew their business licenses annually each May. More information on the business registration and renewal process can be found by visiting the SF Treasurer & Tax Collector website.
San Francisco employers may also be subject to the quarterly Gross Receipts and Payroll tax – to determine if you meet the filing requirements please visit their site.
General information for Alameda County-based businesses.
Oakland, California employers are required to register/renew their business licenses and pay business taxes annually each March. More information on the business registration, renewal, and tax process can be found by visiting the Oakland County website.
Marin County employers are required to register/renew their business licenses annually each July. More information on the business registration and renewal process can be found by visiting the Marin County website.
Marin County business licenses tax schedule; due annually each July. More information on the business tax schedule process can be found by visiting the Marin County website.
San Mateo County employers are required to register/renew their business licenses and pay business taxes. More information on the business registration and renewal process can be found by visiting the San Mateo County website.
There are often questions and some confusion over the filing frequency of the California Secretary of State’s Statement of Information. To ensure compliance we encourage you to visit the California Secretary of State site to locate requirements specific to your company.
New labor laws for employers located in the City and County of San Francisco. See linked pdf for guidelines.
IRS Business Expenses
Gifts aren’t always tax deductible – there’s an IRS limit of $25 per receipient per year and specific guidelines that must be followed in order to write off the expense. Some gifts require a 1099 be issued at year end. More can be found by visiting the IRS site.
Meals and Entertainment are subject to a 50% tax deduction, however there are some exceptions including company events, meals brought in during a staff meeting, etc. – a helpful article on the general rules is available via Entrepreneur Online Magazine.
Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act), and federal income tax withholding under the Internal Revenue Code. When corporate offices perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages.
As an employer, it’s important to stay current on the tax deductibility of employee benefits. Thresholds and specifics on what can be deducted as a business expense are updated yearly – a current version of this guide can be found at this link.
As a reminder it is expected to obtain a completed and signed Form W9 from any service provider in advance of issuing payment for their services. Individuals, LLCs, and partnerships are all subject to 1099 reporting for amounts paid for services in excess of $600. If expenses are reimbursed, receipts should be provided along with the invoice. If receipts are not provide, then the reimbursed expenses are also reported on the 1099 as income to the individual/company being 1099ed. More specifics can be found in one of Bluebird Bookkeeping’s old newsletters. Specific 1099 questions can be directed to your CPA or to us at email@example.com
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