A recent notice to Washington State Employers who pay unemployment taxes indicates you might be eligible for a benefit charge offset. You can apply to offset part of your benefit charges, which might reduce your 2021 tax rate. A state law that passed in March provides $25 million to a newly created COVID-19 Unemployment Account....
Category Archives: Business
What does the executive action deferring payroll taxes mean for employers and employees? On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020. At this point, the taxes are just deferred, meaning they will still have to...
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report payments totaling at least $600...
The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with some recent guidance for borrowers.
Presentation brought to you Greater Yakima Chamber of Commerce / Yakima County Development Association in conjunction with Alegria & Company, PS Partner Brian Newhouse and Manager Travis Lorton. Link to YouTube video of recording: YouTube Recording Or you can watch the video below.
