Withum

NOVEMBER 6, 2024

Reclassification of income: The IRS may reclassify a portion of the shareholder distributions as wages, subjecting them to payroll taxes. This includes Social Security, Medicare, and federal unemployment taxes. Reclassified income results in back taxes, creating unexpected financial liabilities for the firm.

payroll tax 72

payroll tax Florida New York payroll 72

CPA Practice

OCTOBER 29, 2024

Delivering Innovation for Scaling Businesses Intuit is focused on meeting the needs of growing businesses and the accounting firms that serve them, delivering a business platform with products and services that enable every customer to focus on higher-value operations that fuel their growth.

Technology 105

Technology quickbooks bookkeeping payroll 105

SkagitCountyTaxServices

MARCH 17, 2023

Getting into planning mode is going to require you actively carving out some time in your busy business owner schedule… whether you’re facing doing taxes on your own (not recommended) or meeting up with your favorite tax pro (wink, wink). Your deductions depend on the circumstance of your small business.)

tax planning 52

tax planning business tax Tax tax return 52

ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

payroll tax 98

payroll tax payroll tax return Tax 98

CPA Practice

SEPTEMBER 15, 2023

Some of the proposed changes address previous feedback the agency received from taxpayers and tax professionals, said the IRS, which added that it would like to make the changes effective beginning with tax year 2024.

Tax 119

Tax payroll tax payroll business tax 119

ThomsonReuters

MARCH 1, 2024

When are S corps taxes due? S corporations are required to file their annual tax return by the 15 th day of the 3rd month after the end of the tax year. For 2024, S corp taxes are due on March 15, 2024. What IRS tax forms do S corps file?

corporation tax 52

corporation tax Tax tax return income tax 52

ThomsonReuters

FEBRUARY 8, 2024

Now, if an LLC has employees in addition to its members, or owners, the LLC must collect and pay payroll taxes, which include unemployment, Medicare, and Social Security taxes — also known as FICA taxes (i.e., Federal Insurance Contributions Act), or “self-employment” tax. for Social Security and 2.9% for Medicare.

Tax 52

Tax income tax payroll tax Healthcare 52

Withum

JULY 30, 2024

As part of the agreement, annual discretionary spending was capped for two years, keeping non-defense spending levels flat in 2024 and raising it by 1% in 2025. Tax Revenue Projections-Individual Income, Payroll, and Corporate Income Taxes – Lynn Mucenski Keck While a forecasted deficit of $2.8

Tax 122

Tax income tax Government payroll 122