Remove bookkeeping Remove income tax Remove Pennsylvania
article thumbnail

How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SIT Tax?

article thumbnail

Tax Guide for Small Businesses: How Much Should You Save for Taxes?

MazumaBusinessAccounting

The federal government sets the self-employment tax at 15.3%. Federal Income Tax. You will need to pay federal income tax in addition to the self-employment tax. The percentage you must pay in federal income tax depends on which income bracket you fall into. State Income Tax.

Tax 99
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Tax Tips for Accountants With Gambling Clients

CPA Practice

Tracking buy-in and cash-out amounts for each session Recording sessions accurately as they occur – not weeks or months later Providing supporting documentation of sessions if audited Accountants should understand session method mechanics and help clients properly utilize it to minimize taxes owed.

article thumbnail

Eliminate Manual Work and Accelerate Accounts Receivable

CPA Practice

Email (Required) Number of Employees at Your Firm (Required) Number of Employees at Your Firm Sole Proprietor 2 To 4 5 To 9 10 To 19 20 To 49 50 Or More Full Name (Required) State / Province (Required) State / Province Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas (..)

article thumbnail

The Collaborative Accountant

CPA Practice

million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve?

article thumbnail

The Hidden Gem to Firm Growth and Smoother Operations

CPA Practice

million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces? million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces?

article thumbnail

How to Become a Financial Hero to Your SMB Clients

CPA Practice

million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use? million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use?