If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 10. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. […]
For small business owners, in particular, growing a business has always been something of a challenge. On the one hand, you don’t want to grow too quickly – doing so can significantly damage the trajectory that you’ve set out on. But at the same time, you also don’t want to grow too slowly as this […]
August 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 10. Your employer is required to withhold FICA taxes and income tax withholding […]
August 1 – Social Security, Medicare, and Withheld Income Tax File Form 941 for the second quarter of 2022. Deposit or pay any un-deposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax […]
