Tax compliance is a critical aspect of financial management for businesses and individuals. Neglecting regular bookkeeping tasks can result in errors or omissions in tax filings, leading to potential audits, penalties, or overpayment of taxes. The catch up approach in accounting refers to reconciling and updating financial records that have fallen behind schedule. It involves […]
Many of the operations are automated in the software, making it easy to get accurate debits and credits entered. If you want your business to save time and money, then you should consider hiring a bookkeeping service. A bookkeeping service can help you stay organized and on top of your finances. Bookkeeper360 integrates with third-party […]
References to federal income tax withholding don’t apply to employers in American Samoa, Guam, the Commonwealth of the Northern Mariana Islands (CNMI), the U.S. Virgin Islands (USVI), and Puerto Rico, unless you have employees who are subject to U.S. income tax withholding. Contact your local tax department for information about income tax withholding. In general, […]
As mentioned above, these are pre-tax contributions, so not only do they help you save for the future, they also save you money on your taxes now. The standard deduction, which Oregon has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. We […]