What New Business Owners Need to Know About Federal Taxes – Part 1 – Is It a Business (or a Hobby)?

Most of us engage in hobbies of some kind, whether it’s collecting Chinese restaurant menus or making birdhouses. At some point, your hobby may start earning you additional income. Later, if the time that you spend on your hobby increases,…

 Fail to Remit Payroll Tax?  Criminal Liabilities May Attach!

Fail to Remit Payroll Tax? Criminal Liabilities May Attach!

Fail to Remit Payroll Tax? Criminal Liabilities May Attach Normally, whenever an employer fails to pay over payroll taxes collected from its employees, the IRS will impose a hefty Trust Fund Recovery Penalty, which may equal the amount of the…