CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

tax accountant 126

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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. Contact us for tax help today. Failure to properly pay 941 payroll taxes can result in severe penalties, including fines and criminal charges.

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CPA Practice

AUGUST 22, 2024

The IRS said earlier this week that it’s continuing to expand features within its online self-service tool for businesses, launched last October as part of the agency’s service improvement initiative funded under the Inflation Reduction Act. View the business name and address on file. Give account access to employees of the business.

tax accountant 109

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Xero

JULY 3, 2022

Because running a business is complex, and without the guidance of a qualified professional, things like tax, payroll and compliance could land you in hot water. A bookkeeper plays an essential role here by providing up-to-date and accurate financial information about your business.

business tax 111

business tax Tax bookkeeping accounting and finance 111

RogerRossmeisl

JULY 15, 2024

Benefits for your child There are special tax breaks for hiring your offspring if you operate your business as one of the following: A sole proprietorship, A partnership owned by both spouses, A single-member LLC that’s treated as a sole proprietorship for tax purposes, or An LLC that’s treated as a partnership owned by both spouses.

payroll tax 264

payroll tax payroll CPA Tax 264

RogerRossmeisl

APRIL 10, 2023

Summer is around the corner so you may be thinking about hiring young people at your small business. You can save family income and payroll taxes by putting your child on the payroll. Here are four tax advantages. At the same time, you may have children looking to earn extra spending money. It’s a win-win!

Tax 242

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RogerRossmeisl

JULY 17, 2024

July 15 Employers should deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. See the exception below, under “August 12.”)

income tax 263

income tax Tax payroll CPA 263

KROST

OCTOBER 21, 2021

In Late September 2021 Governor Newsome signed Assembly Bill (AB) 150 establishing the Main Street Small Business Tax Credit II. This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 and 2021, resulting in unprecedented job losses. Number of employees as of December 31, 2020.

Maine 91

Maine California business tax Tax 91

ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Voters approved a ballot measure that will gradually eliminate the tip credit.

payroll 105

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RogerRossmeisl

NOVEMBER 16, 2021

Earnings on the funds in an HSA aren’t taxed, so the money can accumulate tax free year after year. Distributions from HSAs to cover qualified medical expenses aren’t taxed. Employers don’t have to pay payroll taxes on HSA contributions made by employees through payroll deductions. Eligibility rules To be.

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xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance .

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RogerRossmeisl

JANUARY 11, 2021

BACKGROUND CARES Act The CARES Act provided the original legislation authorizing the Small Business Administration (SBA) to make loans to qualified businesses under certain circumstances.

payroll 217

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RogerRossmeisl

JANUARY 25, 2021

Taxpayers could apply to have the loans forgiven to the extent their proceeds were used to maintain payroll during the COVID-19 pandemic and to cover certain other expenses. The post PPP Loan Tax Consequences appeared first on Roger Rossmeisl, CPA.

Tax 246

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RogerRossmeisl

JUNE 10, 2021

It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes. If a worker is an employee, your company must withhold federal income and payroll taxes, pay the employer’s share of FICA taxes on the wages, plus FUTA tax.

payroll tax 246

payroll tax payroll CPA Tax 246

RogerRossmeisl

JANUARY 15, 2021

Containing extensions and expansions of the PPP, it provides additional funding for what has been a popular provision with many small businesses included in the Coronavirus Aid, Relief and Economic Security (CARES) Act. allowing eligible employers to obtain forgivable loans for certain payroll and non-payroll purposes.

payroll 205

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RogerRossmeisl

FEBRUARY 5, 2023

The Employee Retention Tax Credit (ERTC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. Some third-party “ERTC mills” are promising that they can get businesses a refund without knowing anything about the employers’ situations.

payroll 223

payroll CPA Tax business tax 223

RogerRossmeisl

MAY 15, 2023

The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one. If a worker is an employee, your company must withhold federal income and payroll taxes and pay the employer’s share of FICA taxes on the wages, plus FUTA tax.

payroll tax 221

payroll tax CPA payroll Tax 221

Withum

AUGUST 14, 2024

Quarterly estimated income tax payments normally due on September 16, 2024, and January 15, 2025. Quarterly payroll and excise tax returns normally due on October 31, 2024, and January 31, 2025. In North Carolina, penalties for failing to make payroll and excise tax deposits due on or after August.

South Carolina 126

South Carolina North Carolina Georgia Florida 126

Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. Contents: 1.

business tax 98

business tax Tax Real Estate Legal 98

RogerRossmeisl

MAY 17, 2021

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.

Tax 152

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MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable.

California 130

California Tax tax return payroll 130

RogerRossmeisl

NOVEMBER 7, 2020

If your small business is planning for payroll next year, be aware that the 2021 Social Security wage base is increasing. The Social Security Administration recently announced that the maximum earnings subject to Social Security tax will increase from $137,700 in 2020 to $142,800 in 2021.

payroll 189

payroll CPA Tax business tax 189

RogerRossmeisl

DECEMBER 31, 2023

Employee gifts Many businesses want to show their employees appreciation during the holiday time. In general, anything of value that you transfer to an employee is included in his or her taxable income (and, therefore, subject to income and payroll taxes) and deductible by your business.

Tax 190

Tax payroll tax payroll CPA 190

ThomsonReuters

NOVEMBER 26, 2024

Let’s take a look at what a digital tax workflow is all about and how it can unlock efficiencies for your accounting firm. Jump to ↓ What is a digital tax workflow? What is tax workflow automation? What is a digital tax workflow? Tax preparation. First, the basics. Data input and integration.

accounting firms 52

accounting firms Technology Tax tax preparation 52

RogerRossmeisl

NOVEMBER 7, 2020

If the rate paid doesn’t exceed IRS-approved maximums, and the employee provides simplified substantiation (time, place, and business purpose): the reimbursement is treated as made under an accountable plan (e.g.

payroll tax 190

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CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

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Going Concern

NOVEMBER 7, 2024

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #23571431 Certifications: CPA in process Education: BBA Accounting, MA Accounting Experience (years): 5+ years of accounting and tax experience Work experience: All in public accounting Performs full cycle accounting and tax preparation Financial compilations and reporting with clients (..)

Real Estate 52

Real Estate accountant accounted Account 52

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

business tax 52

business tax Tax income tax payroll tax 52

inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

payroll tax 52

payroll tax payroll Tax income tax 52

inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

payroll tax 52

payroll tax payroll Tax income tax 52

MyIRSRelief

APRIL 29, 2024

By providing a combination of tax planning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. Get business tax & bookkeeping help by contacting us today!

Tax 130

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Patriot Software

NOVEMBER 1, 2022

Separating accounts helps companies organize accounting records, avoid overspending, and accurately file taxes. You may decide to open a general business checking or savings account, payroll account, or business tax account. Regardless of the type, you need to know how to open […] READ MORE.

accountant 98

accountant accounted Account accounting and finance 98

RogerRossmeisl

JANUARY 10, 2021

BACKGROUND CARES Act The CARES Act provided the original legislation authorizing the Small Business Administration (SBA) to make loans to qualified businesses under certain circumstances.

payroll 134

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CPA Practice

MARCH 9, 2023

Storms, wildfires and flooding damage have pushed back the tax filing deadlines for most Californians. 16 applies to California and federal individual and business tax returns and payments. The new deadline of Oct. ©2023 MediaNews Group, Inc. Visit ocregister.com. Distributed by Tribune Content Agency, LLC.

Tax 133

Tax tax return California payroll 133

MyIRSRelief

OCTOBER 3, 2022

Total employers as of 2020 are 291,833 with annual employment payroll of $244,345,310,000 for 3,914,718 employees compared to the LA county’s population of 9,829,544. Here are some tax services you can use to fulfill the tax process. Los Angeles Tax Preparation Services for Individuals and Businesses.

tax services 147

tax services California Tax tax preparation 147

MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. Discuss Payment Options: If you owe taxes, discuss payment options with your advisor.

Tax 130

Tax payroll tax payroll tax return 130

LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. Payroll Tax Filings: Forms That You Need. Those are forms I9 and W-4.

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payroll tax payroll Tax tax return 52