Many businesses hire part-time or full-time workers, especially in the summer. The IRS classifies these employees as seasonal workers, defined as an employee who performs labor or services on a seasonal basis (i.e., six months or less). Examples of this kind of work include retail workers employed exclusively during holiday seasons, sports events, or during the harvest or commercial fishing season. Part-time and seasonal employees are subject to the same tax withholding rules that apply to...
Archived Posts: Tax Cuts
Small Business Tax Roundup
Tax changes due to recent legislation such as the Tax Cuts and Jobs Act and the CARES Act affect both individual taxpayers and small businesses. In 2020, the IRS issued several guidance documents and final rules and regulations that clarified several tax provisions affecting businesses. Here are five of them: PPP Expenses Now Deductible Deductions for the payments of eligible expenses are now allowed when such payments would result (or be expected to result) in the forgiveness of a loan...
Integra’s A&A Alert – 03/2018
The most recent issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Financial Reporting Impacts of Tax Cuts and Jobs Act Passage late in the year presents challenges New COSO Guidance Addresses Environmental, Social and Governance-related Risks Draft supplements Enterprise Risk Management Framework Worldwide Update Periodic roundup of recent and upcoming actions and activities by audit and accounting organizations throughout the world Integra...