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Tag: WOTC Credit
Unemployment Tax Rate Changes: Founder Budgeting Tips
Introduction Texas startup founders must anticipate fluctuations in unemployment tax rates to maintain accurate budgets and cash flow, as unexpected increases can strain early-stage finances. Inexperienced advisors may overlook rate changes or fail to leverage credits, leading to overpayments or compliance issues. Are you incorporating the latest unemployment tax rate changes into your 2025 budgeting […]
1099 vs W-2 in Texas: Worker-Classification Penalties
Introduction Texas business owners hiring workers must navigate the critical distinction between independent contractors (1099) and employees (W-2), as misclassification can trigger significant federal and state penalties, inflating tax liabilities and disrupting operations. Inexperienced advisors may misinterpret worker status criteria, leading to costly audits or missed tax benefits. Are you classifying your Texas workers correctly […]
Texas Minimum Wage & Payroll Tax Updates 2025
Introduction Texas business owners face evolving payroll obligations, particularly with federal and state tax updates, even as the state’s minimum wage remains static. Inexperienced advisors may overlook changes in federal payroll taxes or misapply Texas unemployment tax rates, leading to compliance penalties or missed savings. Are you aligning your payroll practices with the latest Texas […]