Social Security Tax Deferral Starts Now

An executive order signed by President Trump allows the employee portion of Social Security Taxes to be deffered starting September 1 – December 31, 2020.

What this means is less tax now, but more tax later.

Payroll Social Security Tax Deferrable
An executive order signed by President Trump allows employees to defer Payroll Social Security Taxes starting September 1 – December 31, 2020.

This Tax Holiday will result in double social security taxes coming out of Americans checks in 2021. Not very ideal, unless congress decides to forgive the tax!

As of right now we recommend that employers continue to withhold the usual taxes since the money will be owed back anyway.

The IRS released guidance specifying that deferred payroll taxes must be repaid between Jan. 1, and April 30, 2021. Any tax that isn’t repaid within that window will be subject to interest and penalties.

Making smaller payments over time may be a lot more manageable than being taxed double the amount in 2021. The last thing you want is accruing interest and late penalty fees.

Our small business payroll service makes complex payroll tasks simple, so you can spend your time where it’s needed! Call us today and we can get you started! 508-563-2218 or fill out a “Let’s Talk” Form on our website and a team member will reach out to you!

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Your Guide to Set Up Subcontractors the Right Way

Are you having trouble collecting information from your subcontractors? Download our “Subcontractor Checklist Packet” to know what you need from them for 1099’s, workman’s comp, and liability audits. We’ve even included a contract for reduced liability!

Justice Bragg

Business Development Specialist, Florida

At work, Justice is passionate about helping the team make decisions and connections that propel the business forward. He prioritizes client satisfaction by serving as a medium to facilitate communication to the proper channels making sure every issue is properly addressed.

Outside of work, Justice enjoys exercising by going to the gym and playing pickleball with his friends. He is a self-proclaimed foodie who can’t say no to trying a new restaurant, sometimes even immediately regretting it.

Zachary Williams

Staff Accountant, Florida

At Level Accounting, Zach is responsible for bookkeeping & payroll. He is dedicated to ensuring financial success for our clients.

Beyond the office walls, Zach’s weekends are filled with adventure, whether he’s exploring Florida’s hidden gems with his wife or battling it out in tournaments. When it’s time to unwind, you’ll find him at the movies or casting his line out for a relaxing fishing session.

Melanie Jerome, MBA

SENIOR STAFF ACCOUNTANT, FLORIDA

Meet Melanie J, one of our senior staff accountants! Melanie ensures your financial health with precision and expertise. Beyond the office, she’s a true crime enthusiast who loves traveling and outdoor adventures. Whether she’s balancing books or exploring new trails, MJ’s dedication and skill set the standard for excellence in our team.

Seren Lunsford, MBA

STAFF ACCOUNTANT, INDIANA, QUICKBOOKS ONLINE PRO-ADVISOR

Meet Seren, one of our dedicated staff accountants here at level accounting! She is responsible for bookkeeping & payroll. Outside of the office, you can find her on the sidelines of a soccer pitch, karting track, or baseball diamond, cheering on her two active boys. Seren is also a proud owner of two gentle giants, her beloved Great Danes. In her downtime, she channels her creativity into baking and decorating sugar cookies, always eager to experiment with new baked goods ideas and recipes. With her expertise in accounting and her passion for family, pets, and baking, Seren brings a unique blend of professionalism and warmth to our team.

Ivette Rivera

EXECUTIVE ASSISTANT, FLORIDA

Ivette Rivera is our Executive Assistant at Level Accounting, juggling schedules and keeping things running smooth.

When she’s not crushing it at work, Ivette is an avid participant in her church community. As a mom, she’s all about those quality moments, whether it’s baking up a storm, hitting the water for some kayaking fun, or just chilling with a good book or binge-worthy show. And let’s not forget her partners in crime at home: Harley Quinn, the fridge-raiding pit bull, and Atlas, the cat who rules the roost. Ivette’s all about that balance between work hustle and personal bliss.