If we had to guess, we’d say most people haven’t thought about their taxes since they filed them or requested an extension back in April. While that’s completely understandable, it never hurts to start prepping now for your 2018 taxes. In May, we posted an article about some ways you can start getting organized now for the next tax season, including knowing your deductions and how to get help sooner if you struggled this year.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’ve started this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

Choosing to bring a household employee into your home is an exciting process. From helping with your kids or ailing parents, to cleaning your house and mowing your yard, household employees can make your life simpler. However, not so simple? Paying your household employees. Often times, people believe that household employees can be paid under the table and consider it a win-win for all parties involved. Doing this is not only illegal, but can cost you big time if you are caught.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’re starting this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

Last month, we covered New York, and this month, the spotlight turns to Pennsylvania (PA). While this is by no means a comprehensive list of Pennsylvania tax and payroll regulations, we are highlighting a few key things to know.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’re starting this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

Most of you probably read this blog and think “I could really use more payroll tax content.” We kid.

Payroll mistakes can happen faster than you think, and are often expensive and time-consuming to fix. Using a payroll service is the first step toward minimizing financial risk and taking back control of your schedule—but not all payroll services are created equal.

All business owners must withhold payroll taxes. It’s just a fact. You’re legally obligated to do it, so payroll taxes are something you really can’t afford to hide under the filing cabinet, risking fines and penalties.

You probably don’t expect to see the word “flexible” used to describe payroll options, because there’s nothing flexible about pay dates or tax filing requirements – those deadlines are firm.  And if you have ever had the experience of forgetting to run your payroll on time or dealing with a bungled tax payment, well, at that point, payroll can feel as flexible as granite.

2018 Taxes. Your favorite subject right? 

A lot of number crunching goes into running a small business. When your books get overwhelming, don’t get scared, take a deep breath and consider the options available to you for help. Accountants and bookkeepers can help manage the books for your small business and keep everything flowing smoothly.

Small businesses take many forms—some operate out of the owner’s living room, some out of an office or retail store, some are on the road. Working outside the state in which you live can add a layer of complexity to tax filings and payroll calculations.

Pay day: it’s a day that pretty much everyone looks forward to. But when exactly pay day occurs varies from business to business. As a small business owner, do you know which payroll frequency/schedule your business should be using? With weekly, bi-weekly, semi-monthly and monthly options you may be confused about which schedule to use. It’s important to know that, in some cases, the choice is made for you based on the state in which you live. 

Mistakes happen. One area of your small business you definitely don’t want to see a mistake? Payroll. Small business owners often struggle with payroll because there are so many rules and regulations. The scary thing about payroll mistakes is you might not even know you’re making one until you get slapped with a fine or in trouble with the IRS. To make 2018 a year of payroll-free mistakes, check out our list of the most common mistakes small business owners make and how to avoid. 

Taxes: always a tricky subject.

And just when you think you’ve got it figured out for your personal and small business filings, well, they go and change everything on you. As you more than likely know, at the end of 2017, new federal tax legislation was signed into law. In addition to changing the tax brackets, it included significant changes to standard deduction allowances.

The good news: you can switch payroll providers, or start processing payroll with a provider, at any time throughout the year.

The end of the year is a busy time for small business owners as they juggle seasonal employees, project deadlines and final sales pushes while also beginning the process of closing the books for the year – while also taking time out for their own holiday celebrations.

As many in impacted areas across Florida, Georgia, Puerto Rico, the U.S. Virgin Islands, and parts of Texas focus on rebuilding after widespread damage from Hurricanes Harvey, Irma, and Maria, the prospect of their 2016 tax-filing extension running out on October 16, 2017 is an added cause of stress.

When it comes to starting and running a small business, there are a million moving parts, to say the least. Keeping track of rent, utilities, insurance, inventory, recruiting and staffing, payroll...the list goes on and on. And when you are that close to the trees, it can be hard to see the forest—your overall business cash flow.

Managing and predicting cash flow as a small business owner can be very challenging. Especially when you're starting out, you might find yourself in a situation of having committed sales, but unpaid invoices. Or, as you expand, you might have some growing costs that are higher than projected or coincide with a slow month.