There is a large payroll tax increase for employers (businesses and non-profits) in Minnesota that hasn’t gotten much attention. The increase is starting to be noticed now that Quarter 1 2022 payroll tax filings are coming due and taxes have to be paid. This increase is in MN Unemployment tax...
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Step 1 – Record bank feed transactions Bank Accounts Categorize expenses to expense accounts. Transfer money to any other bank account owned by your Company. Record Credit Card Payments for any payments from your bank account to your credit card. Match bank feed activity to transactions you’ve already recorded in...
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The last several years have been a whirlwind of tax law changes at the Federal and state levels. The following is an update targeting business owners and financial professionals that are not following the day-to-day changes in the tax code. Important Dates There are many important dates for tax filings...
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How often do you review your company’s financial information? There isn’t a perfect answer to that question, but “Never” or “Only when forced” are answers that are all too common. My recommendation is at least Quarterly for small companies and Monthly for most companies. Financial Review meetings don’t have to...
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Forgiveness deadline approaching It has been a while since the Paycheck Protection Program (PPP) has been front and center, but now is a good time to circle back and make sure your PPP loan goes away for good. If you haven’t already applied for forgiveness, now is the time. PPP...
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