Need help to understand the new 2020 w4. Here's a great animated video which explains it well! These w-4's will make sense to you in no time.
The IRS has extended the individual tax filing deadline to May 17th
If you missed the May 17th tax filing deadline, you can get an extension to October 15, 2021 by filing form 4868. But remember, an extension to file is NOT an extension to pay! If you think you will owe, submit payment electronically via this link today in whatever amount you can. This will reduce the amount of late payment, penalty and interest you'll owe.
Hiring your kids can save you money! They get paid, you get to take tax deductions, and as long as their salary is less than $12,000 they don't have to pay income tax. Its tax-free savings for college that you both contribute to. Them from their labor and you from your business payroll.