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December 2, 2000 - A recent change in employment taxes. The IRS announced that beginning January 1, 2001 small businesses need only deposit employment taxes quarterly, instead of monthly, provided the amount of the deposit does not exceed $2,500. IR-2000-83.

Despite this relaxing, I still strongly recommend employers deposit on a monthly basis, because it is to easy to forget to make the quarterly deposits. Done electronically monthly deposits shouldn't take much time and more likely than not will easily offset any penalties for forgetting to make the quarterly deposit. When you do something monthly you are more likely to remember than those things you do only four times per year. See the entire news release at 

 

January 1, 2004 - Health Saving Account (HSA) is a generally a good thing. Talk to your insurance agent about it. I will add more about HSA after April 15th.

 

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Last modified: July 27, 2003