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Showing posts with label Atlanta IRS payroll taxes. Show all posts
Showing posts with label Atlanta IRS payroll taxes. Show all posts

Wednesday, September 28, 2016

Save Time And Money by utsource Your Payroll Services

Payroll management is a time-consuming activity,
removing this burden can allow your employees
to focus on more productive items.
There are numerous benefits to hiring an accounting firm offering payroll services in Atlanta that many small businesses may not be aware of.

While on the surface it appears that doing payroll, taxes and other accounting-related services yourself saves money, in reality, this simply may not be the case.

At GBC Payroll of Atlanta, we provide both large and small companies with the accounting tools they require to keep their business running smoothly.

You don’t have to command a league of thousands to find yourself in need of payroll management services.  With skilled professionals at your disposal, you can be assured our expert team of financial consultants will happily assist you with the customization of payroll reports, time sheet filings, and federal and state tax reporting.

 Our job is to relieve you of the day to day burdens associated with payroll processing.

GBC Payroll saves you time and money by providing you a full and accurate payroll service with exceptional customer assistance, low cost preparation, and timely filing of federal, state, and local payroll taxes. We handle your tax deposits and payroll paperwork electronically which frees you of the worries regarding penalties and late fees.

If a good portion of your day is spent taking care of time-consuming enterprises like bookkeeping, ledger balancing, and employee worksheet maintenance........


Wednesday, September 14, 2016

Capital Gains In Your Retirement Accounts

Information about capital gains can be kept in
various ways accurately and efficiently.
When in doubt, ask your tax advisor!
It’s likely that you’ve had some capital gains. 

Most of the information about capital gains comes from brokerage firms where you keep your investments; but, your capital gains in your retirement accounts are generally not reported unless you've started receiving distributions from them. Other information comes directly from you, the taxpayer.

Keep in mind the following facts:

• The tax rates on capital gains are less than the tax rate on ordinary income. Most commonly, they range from a maximum of 15% to zero. There are special types of capital gains that are taxed at 25% or 28%.

• You can take a net capital loss on your tax return, but that loss can only reduce ordinary income, like your wages, by $3,000, and losses in excess of that amount are carried forward to the following year. Married taxpayers filing separately are limited to $1,500 per year.

• Net capital losses that exceed the annual limit are carried forward to the following year and treated as if incurred in that year.

There are other technical details that might only interest your tax advisor, but here’s what the IRS expects:

1. Anything you own, whether it’s for business, for pleasure, or for investment purposes, is subject to capital gains tax. Everything.

2. You must report all capital gains.

3. You cannot deduct and therefore do not report capital losses on property held for personal use.

As the summer heats up and you decide to get rid of the collectibles piling up in your garage or in some rented storage place, as long as you don't make a profit from selling your stuff, there's little chance that the IRS will audit your failure to report your yard-sale operation; but, just remember that the IRS can.

Atlanta Georgia Income Tax Preparation,
With GBC Services income tax preparation services, you can rest assured that your taxes will be done right and on time every time.

READ MORE about his experience and skill set:

Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!

Wednesday, August 31, 2016

The Importance Tax Planning for Small Businesses

Your blood sweat and tears go into maintaining
your small business. Protect your time and money
by hiring an external accounting firm.
Unlike most mega corporations, small businesses don't have a team of accountants and lawyers to consult when hit with a IRS audit. 

This is among many reason why a small to moderate sized business should retain the services of a reputable accounting firm.

A reliable and historically proven  accounting firm, such as GBC Taxes Atlanta, would act  on your company's behalf if you ever find yourself  in need of assistance during or after an IRS audit.

Of course it is also prudent to avoid  getting audited altogether. The best way to do this is to outsource your financial  preparations for quality record keeping.  Even with dependable in house  accounting staff on hand, you will need a second pair of eyes to keep the tax man at bay.

Human Factors and Financial Accounting

The problem with relying solely on  company  finance officers is the principle of familiarity breeds contempt. It's not that the staff CPA's will consciously try to sabotage records, it's just that, being human, they will become comfortable with  the daily routine  of the office.  Such comfort has it's draw backs and minuses.  On the one hand, its good to have happy and satisfied workers--this makes them more likely do their jobs well in an effort to  remain employed.

The down side--in such an atmosphere it can become rather easy to become complacent, skipping over imperative details that  can provoke an  Internal Revenue investigation when tax time comes around. Besides, it never hurts to give your internal  ledger keepers a helping hand.

Maintenance and Record Upkeep

Another potential issue with in office record keeping is the propensity to lose all important paper work and documents.  This of course becomes an issue in during an audit where relevant  information  can make the difference between a loss of hundreds or even thousands of dollars into government coffers.

Knowing what these trends are can also e assist in cultivating  business planning that helps your company, and it's assets, grow.

When  small business outsource their financial record keeping for tax related purposes, they  have the added security of knowing pertinent information is being stored for easy accessibility when need be.  It's like having a back up, fire proof safe  at the ready in case of an emergency.

Business Planning and Updating

Because tax preparation and filing is the focus of any good accounting firm, they will be more likely  know what the current IRS regulations are, especially in terms of small businesses. This is essential, as governmental procedures can change annually depending on global and domestic economic climates. 
Your blood sweat and tears go into maintaining your small business. Protect your time and money investment and ensure long term viability by hiring an external accounting firm to fulfill all your  important  tax related needs.

Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!

When seeking the assistance of a Certified Public Accountant, experience is key. GBC Services CEO Ghassan R. Ghraizi has the education  and proven commitment  to  providing superior customer service and cutting edge accounting technologies. To learn more about  this highly qualified Atlanta based CPA, contact Ghassan R.Ghraizi  today.


Online Payroll Processing and Human Resource Management System Specialists

Wednesday, August 17, 2016

Things to Consider When Outsourcing Payroll and HRMS

A small business owner won't have the in depth
knowledge of tax codes as it relates to payroll,
governmental regulations or IRS standards.
Being your own purchasing agent  has very little if any drawbacks--but improper filing of tax documentations, or bad record keeping, could land you in hot water with the IRS.

While this is understandable, and can be done in many areas, one place where this can prove disastrous is in the realm of accounting. 

The issue is compounded when smaller ventures lack the manpower to effectively  structure a human resources department.  Without  an established  HRMS in place, office routines can become unorganized and dysfunctional.

The solution? Outsourcing.

Human Resource Management Services

Human Resource Management  is an extremely important aspect of running any business,  and is critically linked to quality accounting and  the upkeep of financial records.  Most small business can ill afford to ignore HRM  responsibility yet they  often think they can take on this aspect alone. The danger here of course is mismanagement, which could potentially lead to trouble further down the road.

Outsourcing to a firm that can expertly handle the day to day functions of Human Resource Management is the surest way to go. Reputable companies offer a variety of ways in which a small to midsized company can integrate their services and will happily consult with clients to address their goals and concerns.

Many small to moderate sized business owners attempt to wear  far too many hats in order to maximize their profits.  

When investigating options in this area, small business should take into consideration the longevity of the firm as well as its accreditation. Honestly,  would you trust your kids to someone  you just met or to an individual with a bad reputation? Your business is your baby--make sure you place it in the right hands.

Payroll Services

All too often, small to moderate sized businesses  attempt  to take care of their own payroll needs or hire one individual to take on the task of  payroll distribution and record keeping. The error here is somewhat obvious.  A small business owner won't have the  in depth knowledge  of tax codes as it relates to payroll, governmental regulations or IRS standards. Likewise,  relying on only one person or a small  department to address critical aspects of bookkeeping can put you on the pathway towards an exhaustive IRS audit.

Outsourcing is a great option here as it would be enable a company of any size to utilize the expertise of individuals whose primary concentration is tax, payroll and human resource management. Just be sure the company you choose employs certified  public accountants and has a  great reputation in this arena.  GBC Taxes of Atlanta can confidently make such claims and offers decades of collective accounting experience.  Contact or call us today to learn what we can do to help your small to moderate sized company run more efficiently, and avoid  common pitfalls that lead to an IRS audit.


Thursday, March 27, 2014

Don't Fall Behind in Paying Your Small Business Taxes

Small and large businesses are
required to make scheduled
reports to the IRS.
Payroll taxes are all taxes that are collected, by federal, state, and local governments, based on salaries and wages paid to employees. These taxes must be withheld from wages by all businesses that have employees. 

These taxes are remitted on a monthly or semi-weekly basis, depending on the quantity owed. 

Businesses are also required to make regularly scheduled reports to the Internal Revenue Service (IRS) and to state and local taxing agencies about the amount of taxes owed and paid. Self-employed persons are responsible for paying their own payroll or income taxes directly to the appropriate taxing entity.

  • Call GBC Services today for all your IRS needs at 678-366-9232.

Many small businesses fall behind in paying these taxes or filing the associated reports at some time during their existence. Such an error is, however, very costly because significant interest and penalties apply for late payment or nonpayment of payroll taxes.

Business Taxes 
Tax Withholding 
Electronic Tax Filing
Tax Preparation Software

Thursday, March 20, 2014

Professional IRS Representation for Your Small Business Needs

GBC can help your company
with payroll tax problems.
There is a few things you should know about payroll taxes though, crucial knowledge that could help you avoid legitimate problems with the IRS as long as these rules of thumbs are followed and guidelines applied.

First things you need to know before getting Atlanta IRS representation is what to hold back from every employee's paycheck:
  • Federal (and if applicable state) income taxes
  • FICA contributions (for such programs as Social Security and Medicare) 

Other important notes for an employer to know to help them with their Atlanta payroll tax problems: 
  • How much income tax to withhold depends on the numbers of exemptions claimed by the employee.
  • FICA contributions from a percentage of gross earnings earned by the actual employee in which you must either match to a certain percentage, or fully.
  • Use a federal tax deposit form with your payment (makes things way easier)
If you do not send these to the IRS, then you may indeed find yourself needing Atlanta IRS representation.  The Atlanta IRS requires this information by federal law, so it is best to make sure you send it over:
  • Form 941 Employer's Quarterly Federal Tax Return. Form is filed every 3 months whilst your business maintains employees. This report shows the employees' federal income tax and FICA withheld for the previous quarter.
    Download Form 941
  • Form 940 Employer's Annual Federal Unemployment Tax Return or FUTA. Filed once a year, and is used to calculate federal unemployment tax. It is important to note that the FUTA tax is paid by the actual business and is not withed from the employee's check.
    Download Form 940
If you find yourself failing in this area of Atlanta IRS representation for your business, do not fret. The Atlanta IRS has reported that the vast majority of businesses are often late, or mess up, their taxes. While the Atlanta IRS considers payroll taxes the most serious of all the tax debts, often they will be willing to work with you as long as you pick the correct Atlanta IRS representation.  

Be careful with payroll taxes, as Atlanta IRS collectors can be extremely tenacious if you owe any payroll taxes whatsoever. 

Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!

Thursday, March 6, 2014

Atlanta IRS Solutions...GBC Services Can Help You With IRS Problems

Always fill out tax
forms at the earliest!
IRS problems are extremely unsettling. 

While you are likely to feel panicked and overwhelmed, following the steps below will assist in solving your tax issues in a timely fashion.

Do not let a notice from the IRS sit around without taking action. 

The notice will contain a payoff date for any liability noted. A timely resolution to your problems is crucial to minimize the effect of penalties and interest on this and any money you owe.

  • Read the IRS notice several times. The notice will be difficult to fully understand if you read it only once. 
  • Make notes on what the IRS is asking for, including the tax year the notice...

Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!

Wednesday, May 15, 2013

Tips for How Businesses can Handle Payroll Tax Troubles With The Internal Revenue Service

Steer Clear of Misfiling
Payroll Taxes
It is not a mistake that the majority of small businesses in Atlanta Georgia with payroll tax troubles are seeking IRS representation. 

Why? Because the Internal Revenue Service can be a real bull dog when it comes to collecting this tax. In many ways, it is the most serious tax of all.

As a business owner, it makes sense for you to become more knowledgeable on how to deal with your own payroll tax issues. Once you understand what to do and why to do it, that is when you can steer clear of heft damages caused by misfiling your payroll taxes with the IRS. 

Also, it means less money you may need to spend on Atlanta IRS representation! (Or hiring a firm for audit help).

The easiest way to stay out of trouble is by using a bonded payroll tax service to both file and make all payroll tax deposits. This helps cover you in case there is an issue. Also if you can only make partial payments, it is very important to write on the check that your contribution should go to  the trust fund portion of the tax. Along with writing it on the check, enclose a letter stating you have designated the funds to the trust fund portion of the IRS payroll taxes.

The trust fund portion of Atlanta IRS payroll taxes consist of:
  • Employee's income
  • FICA contributions
The smaller part is the employer's share of the FICA contribution, which is not subject to the actual Trust Fund Recovery Penalty. While this reduces what the Internal Revenue Service can assess against your business by only an 8%, it is important to stack the odds in your favor and every little bit helps.

Don't let your small Atlanta based business be overcome by problems with the IRS.  Call GBC IRS Income Tax Representatives today (678-366-9232) for all your income tax needs and representation.

GBC Tax Services founder is Ghassan R. Ghraizi, CPA, CGMA.  Ghassan is a Certified Public Accountant, Certified Chartered Global Management Accountant, Atlanta BBB Member.  
Read more about Ghassan R. Ghraizi here.


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