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Why You Must File and Pay Your Employees’ Withholdings on Time

February 18, 2023February 20, 2018 by James E. Heyward CPA

There is zero wiggle room when it comes to handling the federal income taxes and FICA taxes withheld from employees’ paychecks. The taxes are government property, which employers hold “in trust” and then remit to the IRS on a set schedule. Employers are not permitted to use this “trust fund” money for other purposes. Serious … Read more

Categories Tax-Business

Why You Must Keep an Eye on Your Cash Flow!

February 18, 2023January 29, 2018 by James E. Heyward CPA

If profits are up and the projections look good for the next month or two, should you kick back and relax? Maybe not. No matter how positive other signs may be, if you’re not keeping a close eye on your company’s cash flow, things could go haywire. Even a temporary crunch resulting in late debt … Read more

Categories Accounting and Bookkeeping Tags cash-flow
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