CALL US
(980) 237-1714
Email us
justin@pruscpa.com
Friday 09:00 - 15:00
Mon - Thu 09:00-17:00
Hi GP CPA Client!
Estimated Reading Time: 1 minutes 25 seconds
Dear GP CPA Client:
At the rate the company is going, you will end up with an $18,000 tax bill at the end of year.
With about 20 weeks left in the year, we would need to move your payroll up to about $1,000 per week (its currently at $500) and put most of the paycheck toward withholding taxes. The change in the weekly amount needed for payroll would be about $825 per week, which is roughly $18,000 over 20 weeks.
Connie can make the change as soon as you confirm that it is OK.
I am in the office tomorrow from 10am – 2pm if you want to know more.
Sincerely,
Client’s response:
Justin,
That’s fine thanks for the heads up. Do what is needed… thanks
Related Articles
Tax Projections vs. Tax Planning: Why Knowing the Difference Matters
At GP CPA, we help business owners make informed financial decisions year-round—not just during “certain times” of the year.. One common point of confusion we encounter is the difference between tax projections and tax planning. While these two services are closely related, they serve distinct purposes and deliver very different outcomes.
Why We Use Relay Financial—And Why You Might Want to, Too
At GP CPA, we’re always on the lookout for tools that help small business owners save time, stay organized, and keep cash flow running smoothly. One of those tools? Relay Financial—and we don’t just recommend it, we use it ourselves.
Starting a Business in North Carolina or South Carolina?
Starting a business is exciting—it’s also a little like setting out on a road trip without a map (or GPS) if you’re not prepared. You might end up in a great place by sheer luck, but chances are, you’ll hit a few dead ends or take longer than necessary to get where you want to go. That’s where we, the CPAs and business advisors, come in handy.
Navigating the Unexpected Closure of Bench: GP CPA, P.C. Is Here to Help
In contrast to Bench, (RIP?), GP CPA, P.C. is a Certified Public Accounting firm located in the Southeastern United States. We are second generation CPAs and business advisors. We can take over for wherever it is that Bench left off and with us, you won’t experience a data hostage situation with our firm.
Don’t Panic: What to Do When You Get a Tax Notice
Picture this: You’re sifting through the mail, dreaming about coffee or a vacation, and then—bam! There it is. An ominous letter from the IRS or your state tax agency. Before you launch into a full-blown panic spiral, let’s talk through what this means and how to handle it. Spoiler alert: ignoring it won’t make it disappear.
The Employee Retention Credit (ERC)
The Employee Retention Credit (“ERC”) has had some upgrades and retrofits to some of the basic calculations with the most recent (12.27.20) CARES Act changes.
Comments
0 Comments