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The Complete Payroll Blog

Your steady stream of news, insight and analysis into payroll, tax, human resources and more.

Understanding how partnerships are taxed

on Apr 20, 2018 7:00:00 AM By | Complete Payroll | 0 Comments | Taxes
Partnerships are considered pass-through entities by the IRS — they are not separate from their owners. All profits and losses pass through the business to the partners; each pays taxes on his or her share of the profits or deducts his or her share of the losses on individual income tax returns. The portion paid depends on each partner's distributive share  the share of profits the partner is entitled to under the partnership agreement.
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What is a General Ledger?

on Apr 11, 2018 7:00:00 AM By | Complete Payroll | 0 Comments | Taxes Payroll
Decades ago, a general ledger was a book that sat on your accountant’s desk. Today, it usually sits in a virtual space, like in an accounting software platform. Old and new, both formats have the same goal: to track financial transactions over the life of a company.
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How to register a business in New York State

on Mar 26, 2018 7:00:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law Employees Payroll
Is starting a business in New York your American dream? That’s terrific, but get ready to jump through some hoops. New York businesses must be registered. You’ll need forms, certificates, and licenses from multiple regulatory agencies.
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What tax incentives are available to New York employers?

on Mar 22, 2018 7:00:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law Payroll
New York offers millions of dollars in tax incentives for employers. An individual employer might qualify for multiple incentives worth $2,000 to $20,000 each. These tax benefits are designed to help people who have faced barriers to employment, like veterans, low income earners, and workers with disabilities. They also boost long-term employer investment in New York commerce.
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Recordkeeping rules for construction companies

on Mar 5, 2018 3:51:03 PM By | Complete Payroll | 0 Comments | Taxes Labor law Employees Human resources
When it comes to recordkeeping, construction firms have a lot to deal with: accounting rules, the need to make various claims, keeping track of different expenses for tax deductions, and maintaining viable employee records. Getting the most from tax deductions, making sure your company is up to date with report filing, and reducing the chance of having to deal with penalties that come with not paying the proper amount of taxes all depend on accurate recordkeeping and the ability to make legitimate claims based on your records.
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Giving new hires a trial run as independent contractors

on Feb 20, 2018 5:34:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law Employees Human resources
Independent Contractors have been a common addition to many organizations for years, but have increased in use over the past several years as companies have shed their staff headcount.  Independent Contractors are secured either directly and work in a 1099 capacity or they are brought into an organization via the route of a third party staffing or placement agency.
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Some insight on home office deductions

on Feb 12, 2018 6:57:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law
First, with very few exceptions, the part of your home you use for your business must exclusively and regularly be used for the business, not personal activities. As an example, if you worked 40 hours a week in the home office but allowed your children to play video games on your home office computer, then you would not qualify for the deduction. Typically, the home office would be one room, a group of rooms or a part of a room as long as the partition is clear.
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Estimating business taxes

on Feb 9, 2018 7:18:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law
When you work for someone else, your employer generally takes out an appropriate amount of taxes from your paycheck for your federal taxes. But when you're self-employed, a sole proprietor or the owner of an S-corporation, you're responsible for paying your federal taxes both as an individual and as a business owner. Estimated taxes are taxes set aside and paid during the course of the year in anticipation of owing the government a certain amount of tax at the end of the year.
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6 important business tax deductions

on Feb 8, 2018 7:37:00 AM By | Complete Payroll | 0 Comments | Taxes Labor law
"You can deduct that — it's a business expense" is often casually tossed around, as if it gives business managers carte blanche to put anything they want on their tax forms. But the reality is more nuanced.
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Video: How will the new tax bill affect employers?

on Jan 29, 2018 1:36:55 PM By | Complete Payroll | 0 Comments | Taxes Employees Payroll Human resources
We connected with payroll expert Grace Ferguson to talk about the new tax bill and it's impact on employers. Grace was a payroll and HR administrator for two large organizations in the Atlanta, Georgia area. Now she's a freelance content writer that specializes in payroll, HR, benefits and labor law compliance.
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The materials and information available at this website and included in this blog are for informational purposes only, are not intended for the purpose of providing legal advice, and may not be relied upon as legal advice.  The employees of Complete Payroll are not licensed attorneys. This information and all of the information contained on this website are provided pursuant to and in compliance with federal and state statutes. It does not encompass other regulations that may exist, including, but not limited to, local ordinances. Complete Payroll makes no representations as to the accuracy, completeness, currentness, suitability, or validity of the information on this website and does not adopt any information contained on this website as its own. All information is provided on an as-is basis.  Please consult an attorney to obtain advice with respect to any particular question or issue.