Perfect compliance history

Perfect compliance history may qualify you paying payroll remittance quarterly or corporate income tax installments quarterly. It saves you administration costs of filing and remitting taxes. And it also provides the benefits of tax deferral.

Payroll remittance due date and payday

Payroll remittance due dates are always based on when an employee is paid for his or her services (payday) rather than the pay period for which the services are rendered.

Place of business

Place of business means any premises, facility, or installation used to carry on business, whether or not it is used exclusively for that purpose. Premises, facilities, or installations may be considered to be a place of business whether they are owned or rented, or, in some cases, where they are simply available to the business.

How to deduct prepaid expenses

A prepaid expense is an expense you pay for ahead of time. Under the accrual method of accounting, claim any expense you prepay in the year or years in which you get the related benefit.