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Outsourcing payroll services offer multiple benefits to businesses, including cost reduction, time-saving, faster payroll management, and much more. However, out of all the benefits of outsourcing payroll services, penalties avoidance due to statutory compliance is the most lucrative one. According to the IRS, the average penalty for delayed or inaccurate payroll management is approximately $935. …

How Payroll Outsourcing Services Keep Your Company Penalty-Free & Compliant Read More »

If you’re like most small business owners, handling your own payroll can be a huge headache. But did you know that there are other options? Outsourcing your payroll to a professional service can save you time and money. Here’s what you need to know about payroll outsourcing. What is payroll outsourcing? Payroll outsourcing makes it …

Payroll Outsourcing: All You Need to Know Read More »

It’s no secret that financial scams have increased during the pandemic, and it’s estimated that Americans have lost 586 million dollars since the beginning of 2020 to these scams. This is why it’s crucial for you to take the necessary measures to protect your firm from these threats. So how do you do it? An …

Bookkeeping: Why Is It Important for Your Business? Read More »

Did you know the US government loses 90 billion dollars each year to tax evasion? Paying your taxes as a responsible business can do so much for your company; it improves your reputation and establishes your credibility as a reliable and authentic company. However, calculating the tax and making timely payments can be a hassle, …

3 Things to Consider Before Hiring a Tax Consultant in the US Read More »

You’ll be surprised to know more than fifty-five major companies in the US failed to pay any taxes in 2020. Once the government crackdown starts, these firms will have to face severe tax evasion charges. You wouldn’t want to be on the list, right?

It’s tax season, and for many people, it’s time to gather all of your documents and prepare to file your return. But what if you don’t file? There are many consequences, and they can be pretty serious. So, if you’re thinking about skipping out on filing this year, think again. It’s not worth the risk. …

The Consequences of Not Filing Your Tax Return Read More »

FBAR is an acronym for the Foreign Bank Account Report, which Congress created in 1970. It’s a report that every person with over USD 10,000 in foreign bank accounts has to file with the U.S. Treasury Department on their tax return each year. The purpose of this law is to make it easier and faster …

Everything You Need to Know About FBAR Read More »