May 19, 2014 | GTM Business Blog isolved
There is an option that makes it simpler for qualifying taxpayers to include a home office tax deduction. The IRS announced a simplified option that many owners of home-based businesses and some home-based workers may want to use to figure their deductions for the...
Apr 24, 2014 | GTM Business Blog isolved
If keeping your payroll as lean as possible is your goal, you may be able to take advantage of minimum wage exceptions. Employees under age 20 can be paid a “youth minimum wage,” as low as $4.25 per hour, for the first 90 consecutive calendar days. Another...
Apr 14, 2014 | GTM Business Blog isolved
Here are some of the ways that GTM reassures our clients that their tax deposits for payroll are secure. Management Controls: GTM is independently and routinely audited and as a result is SOC-1 compliant. GTM pays strict attention to Industry Best Practices....
Apr 7, 2014 | GTM Business Blog isolved
A net operating loss, or NOL, occurs when a business’s operating expenses and other deductions for the year exceed its revenues. Although the name would seem to indicate that operating in a “loss” situation is negative, there may be tax benefits of...
Mar 31, 2014 | GTM Business Blog isolved
On March 25, 2014, the U.S. Supreme Court ruled in favor of the IRS in a case against a now-defunct employer, Quality Stores. At issue was the question of whether severance pay for laid off workers was subject to Social Security and Medicare taxes under the Federal...
Mar 17, 2014 | GTM Business Blog isolved
The Department of Labor regulations that dictate which workers may be classified as exempt from overtime pay are likely to be updated in the near future due to a directive from President Obama. The President is especially interested in seeing the minimum salary...
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