Everyone knows that tax season comes annually and that we are all expected to pay our share - fair or not - but the looming question really is "why pay taxes?" Try explaining to your child that you pay when you earn money, you pay when you spend money and annually the government takes more of your money even if you already spent what they want.From new Uggs to automobiles to groceries, there are unwanted taxes attached... but the question remains where does the money go?
One of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees. Below, we point out some issues to consider when operating a husband and wife business.
Approximately 1 in 18 Americans have their identities stolen each year. Among the many identity theft scams is an emerging hoax in which cyber criminals obtain remote control of computer systems to hack into sensitive employee information to steal identities. Thieves will then use a stolen social security number to file a tax return and claim a fraudulent refund. Criminals may also use stolen employer identification numbers to create false Forms W-2 to support refund schemes. This threat is particularly relevant to office settings, so be sure that you and your employees are using proper precautions at work to avoid being victimized.
Scammers use a variety of methods to enter computer systems, often through the use of malicious software, such as viruses, worms, Trojans, adware, spyware and ransomware. This threatening software has the potential to not only impact you, but your employees and business clients as well.