SB 30 was passed on June 6, 2017 and was vetoed by Governor Brownback the morning of June 7, 2017. The Legislature promptly overrode the Governor’s veto on the evening of June 7th with a vote of 27-12 in the Senate and 88-31 in the House. Several provisions are effective January 1, 2017. Read more for a summary of the bill.
Whether your workers are independent contractors or employees impacts the way you handle payroll, how you pay taxes, and how many full-time employees your business has, etc.
The Internal Revenue Service has issued several warnings about scamming tactics targeted toward taxpayers. Beware of phone, email, text, and social media attempts to obtain your sensitive data.
For 2016, the IRS has announced a decrease in the optional standard mileage rates for business use of a vehicle (car, van, pick-up truck, or panel truck), as well as a decrease for driving for medical or moving purposes.
Due to recent Kansas tax law changes, taxpayers that have paid Kansas City, MO earnings tax or earning taxes to districts outside of Kansas, may be eligible for a refund.
A possible refund? Did someone say refund? That’s great news – what are the details?
Although not widely publicized, taxpayers should know that they may be eligible for a one-time penalty amnesty (first time penalty abatement or FTA) – which can translate to a potential savings of hundreds or even thousands of dollars.
In a few months, the world of overtime pay in the US will change. A new US Department of Labor rule takes effect December 31, 2016, and small businesses, large corporations, and everyone in between are preparing for implementation.
When it comes to reasonable compensation, documentation is a key factor in mitigating IRS penalty risks for S Corporations.
On September 7, Equifax, a consumer credit reporting agency, announced it experienced a cybersecurity hack last week potentially impacting 143 million people. The breach occurred from mid-May through July 2017, and the personal information accessed by hackers includes names, Social Security numbers, birth dates, address and some driver's license numbers. Read more about how to protect yourself and visit https://www.equifaxsecurity2017.com/ to review important consumer information.
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Most people have heard of identity theft with fraudulent purchases made using a credit card or loan. Tax-related identity theft, however, occurs when an identity thief uses your social security number to file a false tax return. The IRS Taxpayer Guide to Identity Theft outlines important warning signs and steps to take to protect yourself.