Varun Murthy

What is the Military Spouses Residency Relief Act? The Military Spouses Residency Relief Act is a federal/state law that allows military spouses to declare the same state of legal residency as thei...

There are 3 required tax items you’ll need in order to get setup for payroll.  Requirement Format Agency Employer Registration Number XXX-XXX-XXX (9 digits) Division of Revenue and Enterprise ...

As an S-corp, you can offer taxable fringe benefits to cover medical expenses to your workers as taxable income. As an S-corp owner, you can also participate in your taxable health benefit as long ...

Determining your federal deposit schedule is important for employers responsible for withholding and depositing payroll taxes. The schedule dictates how often you need to deposit these taxes with t...

IRS Form 8655, also known as the "Reporting Agent Authorization," is a document utilized by the Internal Revenue Service (IRS) in the United States. Its purpose is to grant authorization to an indi...

A Federal Employer Identification Number (FEIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify businesses operating in the United States. This number is us...

The Federal Unemployment Tax Act (FUTA) tax is a federal payroll tax in the United States that employers are required to pay to fund unemployment benefits for workers who have lost their jobs. FUTA...

This article explains the basics of FICA tax in a simplified way, covering what it is, how it's calculated, and why it matters. 1. What is FICA Tax? FICA stands for the Federal Insurance Contributi...

A federal deposit schedule, also known as a Federal Tax Deposit Schedule, is like a timetable set up by the IRS to help businesses pay their federal taxes. These taxes include things like income ta...

What is Federal Income Tax? Federal Income Tax (FIT) is levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal i...