One of the main reasons people go into business for themselves is to do something they love or feel passionate about. Unfortunately, most soon discover that there are necessary aspects of entrepreneurship that they loathe. Two examples that we hear often: payroll and taxes. Many choose to get professional assistance with their taxes, but are not so quick to consider outsourcing payroll.
This year-end may not be the same as last year when it comes to 2020 payroll taxes and compensation and benefits matters.
Successful year-end tax planning involves knowing which direction future rates will go; much is riding on the outcome of the election process.