Why Shop Owners Are Outsourcing Their Automotive Payroll
In the past, auto shop owners had to create their own payroll and accounting processes from scratch. Without an established framework for handling...
Services
In 2020, the IRS released a new W-4 that was designed to make it easier for individuals to determine the amount that would be withheld from their paychecks.
However, the new form doesn’t contain a section for allowances and the tax tables changed. As a result, many individuals, if they hadn’t reviewed their withholdings and completed a new W-4, are now finding they owe additional tax.
Personal tax situations change from year to year. To avoid tax day surprises, employers should encourage employees to review their withholdings annually. Be advised that specific tax questions should be directed to the employee’s accountant.
In the past, auto shop owners had to create their own payroll and accounting processes from scratch. Without an established framework for handling...
Did you know that most businesses lose out on a significant amount of money each year by neglecting to take advantage of tax deductions? In fact, ...
Simple accounting mistakes can impact your auto shop more than you realize. Rather than having additional funds at the ready to allocate towards...