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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
Take control back from the big box payroll companies and work with someone who can guide you to a better payroll process. GP CPA + GUSTO is the modern way payroll runs and the partnership that moves your business forward.
Since we now have less than 90 days left in the year, kindly keep me apprised of when you expect the major revenue collections to be during the next few weeks and we can adjust accordingly.
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.
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