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Home Office Tax Deduction
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...
Minimum Wage Exceptions
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...
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...
