Single-touch payroll, STP Phase-2 is an Australian government initiative to make it easier for employers to report to government agencies. It is the way the employer reports their employees’ tax and super information to the ATO. What is STP Phase-2? STP Phase-2 is a move towards more appropriate digital records and reporting. In the 2019–20...
Taxes are a universal aspect that no business can avoid. When it comes to the USA different, the number of taxes based on the eligibility can easily confuse entities. And Federal Income Tax Return is one of the mandatory forms issued by the IRS for businesses in the USA. This includes Form 941 and Form...
Single-touch payroll is an Australian government initiative to make it easier for employers to report to government agencies. Single Touch Payroll is the way you report your employee’s tax and super information to the ATO. STP reduces the reporting burden for employers who file in the report information about their employees to many government agencies....
Introduction Accountancy is predominantly divided into two branches covering Financial Accounting and Managerial Accounting. From Budget forecasting to its actual footprints on an organisation’s financial statements, an accountant’s role is spread on a wide spectrum of performance analytics. The parameters of accounting extend beyond the use of financial data as non financial factors are crucially...
Introduction Tax season is indeed overwhelming, and if you are an employer, then there are some more forms that hold significant importance such as Form 941. Knows as the Employer’s Quarterly Federal Tax Returns, this form reports the taxes withheld from the employees’ wages. These taxes include; Federal Income Tax Social Security Tax Medicare Tax...
Starting a new business means doing an investment first and gaining the advantage later. Hiring the right person with the right skills and experience can be a daunting task especially when you are just a start up. That is why hiring virtual assistants becomes a better option than hiring permanent or full-time employees. You can...
Outsourcing Finance & Accounting Services means outsourcing one of the most crucial parts of your business. So, should a company outsource its significant functions by trusting external resources? Outsourcing refers to the process of hiring individuals or agencies to support you with various services and business operations. It may include IT & Technology, Administrative, Ecommerce,...
Whenever an individual starts a business or wants to expand the existing one, they need professional expertise to do so. However, it can get a lot more expensive to hire different specialists at once to smoothen the process. That is where virtual assistant can be of help to companies in performing tasks to improve their...
Well, do you know how a company works efficiently on a regular basis? Does an individual perform in a company or a team? No matter what level or kind of industry you work in, it’s important to develop teamwork skills. This will definitely help the company effectively. Just like in sports, the best team players...
What is Form 1040? Form 1040 is the most common tax form. It’s used to report your income, calculate your taxes and claim any deductions or credits you may be eligible for. There are various Schedules for Form 1040, which one needs to fill out while filing the form. Let’s go through them one by...
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