Author: Barbara Dillon

Tax and Employee Bonuses

When rewarding your team’s performance with bonuses, it is important to consider how those bonuses are given, along with the tax implications for both you and the employee. One-time bonuses are generally calculated by percentages. The rates cluster around 3% to 5% of annual salary for clerical and support staff. Managers might receive in the low-double-digit percentage range and executives

Read More

2024 Quarterly Estimated Tax Payments

The second quarter estimated tax payment deadline is June 17, 2024.  Taxpayers should remember this deadline to avoid falling behind on their taxes and facing possible underpayment penalties. Taxpayers should also remember that third quarter payments are due September 16, 2024, and the final estimated tax payment for tax year 2024 is due January 15, 2025.

Read More