From the Flashpoints blog
One of the more common ways small business owners get into trouble with the IRS is by getting behind on their payroll taxes. Normally you would pay your employees, withhold the appropriate taxes (income and employment taxes), and remit those funds along with your (as the employer) share of your federal tax deposit to the IRS on a monthly or quarterly schedule (depending on the size of your payroll). When you pay your employees, withhold the appropriate taxes, and then don’t send the funds to the IRS, you can find yourself in serious trouble.
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Dear John:
Just a quick note to congratulate you on a fine talk…and more important perhaps …a fine question and answer session thereafter at the Boston Rotary Club today.
Very thought provoking!….good stuff..well done…..Best….Ian Stevenson BA MA CA CPA CFO, Senior Legacy Officer etc!
Albert Schweitzer Fellowship Boston Mass and Board Member Boston Rotary Club.
Hi Ian,
I really enjoyed the Boston Rotary meeting and the Q&A question was great! Thanks so much for taking the time to visit the blog and comment. You can follow information about the jobs creation tour on the Flashpoints blog here.
Thanks, John Harris