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Secure Tax Deposits for Payroll
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....
Tax Benefits of Net Operating Losses
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...
Is Severance Pay Subject to Payroll Taxes?
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...
New Federal Overtime Regulations Proposed
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...
