Friday 09:00 - 15:00
Mon - Thu 09:00-17:00
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.
That’s fine thanks for the heads up. Do what is needed… thanks
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.
What is new in 2021? Meals in 2021 are once again 100% deductible, the next round of PPP funding is coming and the Employee Retention Credit (ERC) has been changed.
How to Persuade Clients to Change Banks. Listen to Justin Prusiensky’s Guest Appearance on the Relay Financial Webinar
Our expert accountant Justin Prusiensky was recently interviewed as a guest speaker by Relay Financial to discuss how to persuade clients to change banks.
Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.
GP CPA offers a wide range of business advisory services that are tailored to the needs of business owners. For those small businesses who need someone to keep the books, we can do that.
As many area businesses know Charlotte Sales Tax rate is either 2%, 7.25%, or 8.25% and what rate belongs to your business is based on what the business is selling.