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Tax Form 941 is Due Soon - Is Yours Done Yet?

Jun 15, 2021 1:25:47 PM / by CSI Accounting Staff posted in small business taxes, small business payroll

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As a small business owner, you probably found this article because you're looking for more information to prepare your own 941s.

If not, you might be one of many owners who not only (sometimes incorrectly) assume that their accountant is going to handle it, but they also don't really know what Form 941 is.

Regardless of which situation better describes you, this article will explain both in detail.

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The Top 8 Benefits of Managed Payroll Services

Jun 9, 2021 3:40:08 PM / by CSI Accounting Staff posted in small business payroll

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Is it worth it to outsource payroll? Clearly, doing it yourself can have some major downsides. Here are the top 8 benefits of managed payroll services, with an extra emphasis on the differences between local providers and national providers.

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7 Things That Can Increase Your Payroll Fees

Jun 2, 2021 2:45:09 PM / by CSI Accounting Staff posted in small business payroll

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As an employer, you know that payroll is much more complex than most people think it is. Aside from the basic adjustments, such as taxes and garnishments, do you know how your company's unique situation can influence your payroll prices?

You might be surprised to hear that the big-name payroll companies don't always offer better deals. Here are some things that payroll companies use to determine your payroll fees.

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The Beginner's Guide to New Hire Reporting

May 19, 2021 2:49:25 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business operations

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When we sit down with clients who don't have an HR department, they often ask us about new hire reporting. While we recommend that businesses of all sizes work with at least one HR professional (even if it requires partnering with an outsourced company rather than hiring internally), this is one of those things that can be done by the business owner - with the right knowledge, of course. Here's what you need to know.

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What You Need to Know About the American Rescue Plan Act

Mar 25, 2021 4:28:35 PM / by Brian Paulson posted in small business taxes, small business payroll, small business accounting

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The following blog post is based on a letter from CSI Accounting & Payroll's owner, Brian Paulson, to our clients.

As we all know, 2020 and 2021 have been very challenging years in many respects. Along with everything else, Congress has been doing more things than ever before that have implications on the taxation of both businesses and individuals. It has been very challenging to do so, but we pride ourselves on staying on top of what is coming out of Congress so we can quickly summarize it and convey it to our clients.

NOTE: This information was up-to-date at the time that this post was written, but COVID relief laws are constantly being updated and changed. Please contact us directly for updated information.

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The Benefits of Having Accounting & Payroll Services Under One Roof

Mar 15, 2021 3:04:54 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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While there are people who use different providers for different services, CSI Accounting & Payroll offers the best of both worlds when it comes to financial services. Having accounting and payroll under one roof has lots of benefits under normal circumstances.

This post touches on those normal circumstances, as well as how bundling accounting and payroll can help a struggling small business owner with navigating COVID wages, loans and credits, and forgiveness.

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Small Business COVID Relief Packages: What to Do and What to Expect

Mar 11, 2021 9:37:52 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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The COVID-19 pandemic proved to be devastating to many small businesses. 163,735 U.S. small businesses closed their doors between March 1st, 2020 and August 31st, 2020. This resulted in the government setting aside some crucial relief efforts.

Whether you participated in the first round of PPP loans last year or not, there's still a good variety of relief packages available. The two most popular relief efforts are the PPP (Paycheck Protection Program) loans and the ERC (Employee Retention Credit), which will be discussed in this post.

NOTE: This information was up-to-date at the time that this post was written, but COVID relief laws are constantly being updated and changed. Please conduct your own research with reliable sources or contact us directly for updated information.

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What Makes CSI Different?

Mar 3, 2021 11:43:30 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business bookkeeping, small business accounting, small business operations

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Any reasonable small business owner would ask themselves, "What makes CSI Accounting & Payroll so special? What do they do that my current bookkeeper and annual tax accountant don't? What about my payroll provider?"

You're here for a reason, and that reason is because all professional services are not made equal.You may have a need that is not being met with your current services. Let's see if we can be a good match for each other!

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Is Your Small Business Ready For the New Minimum Wage?

Dec 29, 2020 5:13:44 PM / by CSI Accounting Staff posted in small business payroll, small business operations

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If you haven't heard yet, the Minnesota minimum wage has increased, and so has the national minimum wage for government contractors. If your company currently employs Minnesota workers at minimum wage or utilizes federal contractors at minimum wage, are you ready to make any necessary changes to reflect the increase?

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End of Year: IRS Changes Due to COVID-19

Nov 25, 2020 10:07:24 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business bookkeeping, small business accounting

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Brian Paulson, the owner of CSI Accounting & Payroll, has put together some end-of-year planning tips.

He writes, "Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit."

This section covers a unique topic: changes in the IRS due to COVID-19. Pandemics definitely don't happen every day, but they can result in massive government changes.

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