1099 vs. W2: Understanding the True Cost of Employment
This blog post clarifies the critical differences between 1099 independent contractors and W-2 employees, detailing the true costs of each, including taxes, benefits, and legal risks, with a focus on California’s ABC test.
Owner’s Draw vs. Salary: Making the Right Pay Decision for Your Business in 2024
This comprehensive guide clarifies the differences between owner’s draw and salary for small business owners in 2024, exploring tax implications and helping you choose the best payment method for your business structure.
What is FICA (Federal Insurance Contributions Act)?
This comprehensive guide explains FICA taxes, covering their history, how they work for employers and employees, tax rates and limits for 2024, self-employment taxes (SECA), common mistakes to avoid, and answers to frequently asked questions.
Why QuickBooks is Still the Go-To for Your Business in 2024
Discover why QuickBooks remains the top choice for small business accounting software in 2024, offering comprehensive features, cloud accessibility, AI automation, and robust reporting to simplify your financial life.
Filling Out a W-4: A Guide for Multiple Jobs and Non-Traditional Income (Like Caregiving)
Do you juggle multiple jobs or have income from sources like caregiving? If so, you might be wondering how to accurately fill out your W-4 form. At XOA TAX, we often hear from clients who find this process a bit confusing. This comprehensive guide will walk you through the steps and ensure you’re withholding the […]
Payroll Tax Mistakes That Can Cost You: A Guide to Staying Compliant
Payroll taxes are a critical responsibility for businesses of all sizes. However, the complexities of regulations, deadlines, and potential penalties can be challenging to navigate. Failing to manage payroll taxes correctly can result in penalties, interest, and even personal liability for business owners. In this blog post, we’ll explore common payroll tax pitfalls and provide […]
Nail Salon Payroll: A Guide for Smooth Business Operations
The beauty industry is booming, and nail salons are a vital part of it! As a salon owner, you’re an artist, an entrepreneur, and a manager all rolled into one. While you excel at creating stunning nail art, managing the business side of things, especially payroll, can be tricky. But don’t worry, XOA TAX is […]
Streamlining Payroll and Benefits Administration for Tech Startups
The tech world moves fast. Blink and your startup has gone from a handful of brilliant minds huddled around a whiteboard to a bustling hub of talented employees. This rapid growth is exhilarating, but it also brings challenges, especially when it comes to managing payroll and benefits. As your team expands, you need systems that […]
Restaurant Tax Compliance: Sales Tax, Payroll, & Regulations
The restaurant industry is a dynamic and exciting field, but it also comes with unique financial challenges. Restaurant owners must juggle various tax and payroll obligations while ensuring they comply with all applicable regulations. This blog post provides a comprehensive guide to help restaurant owners navigate these complex areas, covering everything from sales tax and […]
Understanding Your Paycheck: Tips, Deductions, and Your Rights
Have you ever taken a close look at your paycheck and wondered if something was off, especially when it comes to your hard-earned tips? If you work in the food and beverage industry, these concerns might be all too familiar. Understanding how tips are taxed and reported can be confusing, and unfortunately, some employers might […]
