Cherry Bekaert

APRIL 5, 2023

For most companies, the R&D tax credit provides a dollar-for-dollar reduction of income tax liabilities. For some start-up companies, a portion of R&D tax credits can be used to offset federal payroll tax liabilities. Why Investigate the R&D Tax Credit Now? Prepare an IRS audit-ready deliverable.

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CPA Practice

APRIL 24, 2023

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. And then you’re protected from an audit from the IRS because you’re compliant in this program.” By Nick Hawkins, Inc.

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MyIRSRelief

APRIL 3, 2023

Tax Planning and Preparation: An accountant (EA or CPA) can help small business owners navigate the complex world of tax laws and regulations, ensuring compliance and minimizing tax liabilities. They can also help prepare tax returns, file necessary forms, and represent the business in the event of an audit.

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Anders CPA

OCTOBER 11, 2022

Important ERTC Takeaways: Still applicable to 2020 and 2021 taxes No application necessary, simply file an amended payroll tax return Strong chance for an IRS audit within 5 years ERTC can increase businesses’ taxable income Tip wages also count towards ERTC. ERTC for Restaurants.

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inDinero Tax Tips

JANUARY 3, 2023

Check out these other blogs about taxes: Important Info for Filing Taxes This Year. Info About Audits. R&D Tax Questionnaire. Your business may still be eligible to claim the employee retention tax credit for 2021 and 2020. Employees vs. Independent Contractors. C-Corps vs. S-Corps.

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inDinero Tax Tips

JANUARY 3, 2023

Check out these other blogs about taxes: Important Info for Filing Taxes This Year Info About Audits Employees vs. Independent Contractors C-Corps vs. S-Corps R&D Tax Questionnaire Your business may still be eligible to claim the employee retention tax credit for 2021 and 2020.

Tax 40

Tax payroll tax tax return payroll 40

ThomsonReuters

JUNE 7, 2023

To Weckman’s point, there are already significant challenges in processing a timely and accurate payroll in the United States. Multi-state employers must understand income tax withholding rates, unemployment tax rates, minimum wage and labor laws, and any local payroll tax laws or regulations.

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Ronika Khanna CPA,CA

JANUARY 21, 2022

She hadn’t filed her tax return in a few years mostly because she had one T4, figured that she didn’t owe any tax and was simply procrastinating on an unenjoyable task. In this case you might have overpaid or underpaid your taxes. Once you are on that list, the chances of future audits increases substantially.

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xendoo

SEPTEMBER 28, 2021

In order to help, the team at Xendoo has created this guide to tax prep for small businesses. Our goal is to make sure that you have the tools you need to appropriately file your tax return this year. Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021.

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KROST

JANUARY 15, 2021

Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. Eligible employers can receive a refundable payroll tax credit up to 70% of qualifying wages paid between January 1, 2021 and July 1, 2021. Same as the 2020 law.

payroll tax 52

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inDinero Tax Tips

DECEMBER 13, 2021

With the coronavirus pandemic inducing a minor recession, we saw many tax changes of the latter kind. Most pandemic-related tax changes from 2020 will remain in effect. Here are the federal tax law changes in 2021 that will affect your business. It will come off your taxes, so go out and have a bite on the company!

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KROST

NOVEMBER 8, 2021

The employee retention credit is now in effect for eligible businesses for qualified wages paid from March 13, 2020 – September 30, 2021. The maximum eligible credit is now $26,000 ($5,000 in 2020, and $21,000 in 2021) per employee if a business qualified for each eligible period. Tax , Tax Specialty Services.

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KROST

NOVEMBER 8, 2021

The employee retention credit is now in effect for eligible businesses for qualified wages paid from March 13, 2020 – September 30, 2021. These credits can be claimed on amended payroll tax returns for qualified periods. These credits can be claimed on amended payroll tax returns for qualified periods.

payroll tax 52

payroll tax tax return payroll CPA 52

inDinero Tax Tips

DECEMBER 13, 2021

With the coronavirus pandemic inducing a minor recession, we saw many tax changes of the latter kind. Most pandemic-related tax changes from 2020 will remain in effect. Here are the federal tax law changes in 2021 that will affect your business. It will come off your taxes, so go out and have a bite on the company!

Tax 52

Tax California payroll tax payroll 52

ThomsonReuters

OCTOBER 21, 2022

Constitution in 1913, which gives Congress the “power to lay and collect taxes on incomes.” ” The Social Security Act of 1935 followed, where contributions to the Old-Age, Survivors, and Disability program were imposed through a payroll tax on both employers and employees.

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ThomsonReuters

OCTOBER 21, 2022

Constitution in 1913, which gives Congress the “power to lay and collect taxes on incomes.” ” The Social Security Act of 1935 followed, where contributions to the Old-Age, Survivors, and Disability program were imposed through a payroll tax on both employers and employees.

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payroll Technology Tax Start-ups 40

Withum

NOVEMBER 6, 2024

The consequences of not paying reasonable W2 salaries are as follows: Increased IRS scrutiny and audits: Underpaying active shareholders in salary while paying significant distributions can trigger IRS audits. This includes Social Security, Medicare, and federal unemployment taxes.

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