Posts by Payroll Complete

YOUR PPP LOAN FORGIVENESS WILL PROBABLY BE LESS THAN ANTICIPATED

PPP loan forgiveness

Article Highlights: Paycheck Protection Program (PPP) Loan Terms  Loan Amount  PPP Loan Forgiveness  Reduction in Pay  Decrease in Employees  Qualified Expenses Limitation  Documenting Forgiveness Now that you have gotten a Paycheck Protection Program loan (PPP), it is time to start planning how to spend the loan proceeds so some portion of the loan will be forgiven.…

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Distinguishing Between Independent Contractors or Employees – Don’t Let Mislabeling Cost You!

Independent contractor or employee?

Employers have several tax obligations related to their employees. The government expects employers to withhold income taxes and social security and Medicare taxes from their employees’ pay in addition to paying unemployment tax on their wages. On the other hand, employers have no tax obligations on payments they make to independent contractors. Whether or not…

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