Most employers have fewer than 50 full-time employees or full-time equivalent employees and are not subject to the Affordable Care Act’s employer shared responsibility provision.
If an employer has fewer than 50 full-time employees, including full-time equivalent employees, on average during the prior year, the employer is not an Applicable Large Employer for the current calendar year. Therefore, the employer is not subject to the employer shared responsibility provisions or the employer information reporting provisions for the current year.
Five Tax Tips on Estimated Tax Payments
You typically have taxes withheld from your pay if you are an employee. However, if you don’t have taxes withheld, or you don’t have enough tax withheld, you may need to make estimated tax payments. If you are self-employed you normally have to pay your taxes this way.
Here are five tips about making estimated tax payments:
The dread of tax season hits everyone differently, but what happens when you get hit with an unexpected tax bill that you can't afford to pay? Honestly you're probably thinking if you had the money sitting in your bank account you probably wouldn't owe to begin with. The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return.
Here is what to do if you can’t pay all your taxes by the due date.
Bartering is the trading of one product or service for another. Often there is no exchange of cash. Some businesses barter to get products or services they need. For example, a gardener might trade landscape work with a plumber for plumbing work.
If you barter, you should know that the value of products or services from bartering is normally taxable income. This is true even if you are not in business.