What to Do When You Fall Behind on Tax Payments

Keeping up with your required tax payments is a major obligations—and challenge—as a business owner. But sometimes a business owner falls behind. If that’s you, know that you’re not the only one. That’s when it’s time to find a tax problem resolution to solve your problem. The ADP blog team has broken down some of […]

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Consultant’s Corner: Tax Treatment of Tipped Employees

Question: Are tips received and reported by a waitress taxable for unemployment calculations? Tips reported by a restaurant waitress to an employer are taxable for unemployment tax calculation purposes, subject to certain thresholds and guidelines. Also, there are additional tax treatment considerations for different types of food service businesses and tip and gratuity procedures that […]

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Consultant’s Corner: Hiring Your First Employee

Question: I’m growing and am thinking about hiring my first employee. What should I do? When growing a business, entrepreneurs typically reach a point in the process where they must consider the prospect of adding staff. There are several important things to consider when hiring employees, which include: labor laws, compensation structure, fringe benefit programs, […]

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Don’t Make These Common Tax Mistakes!

Taxes are one of the most complicated tasks for small business owners, and it isn’t hard to make mistakes—even big ones. Small business tax specialist Gail Rosen shares some of the most common mistakes small business owners make with their taxes, and how to avoid them, including correctly classifying employees and contractors, deducting startup costs, […]

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Do You Need Outside Help with Payroll?

A small business owner has to wear a lot of hats. Early on, one of those hats is often for handling payroll. You may think that as long as the business is small, with just a couple employees, payroll is something you can take care of on your own. But when should you look at […]

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Consultant’s Corner: Business Entity Selection

Question: “How should I go about choosing a business entity type?” Many small businesses are structured as unincorporated sole proprietorships and General Partnerships due to their formation and maintenance simplicity and costs; however, the primary disadvantage with a sole proprietorship or General Partnership is that it is not a separate legal entity, even when it […]

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Consultant’s Corner: Maximizing Your Credit Score with a Balance Transfer

Q. How does shifting debt from one credit card to another and reducing the credit utilization impact your overall credit profile and credit score? Will it increase, decrease, or stay the same? Credit card utilization is one of the most important factors credit scoring models use to calculate one’s credit score. Generally speaking, there is […]

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