Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

Withum

JANUARY 12, 2023

The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. The current list of eligible localities is always available on the Tax Relief in Disaster Situations page on IRS.gov. Contact Us. Let’s Chat.

California 122

California Tax tax return payroll tax 122

CPA Practice

MAY 31, 2023

A California man was sentenced in late May to 12 months in prison for willfully failing to account for and pay over employment taxes. According to court documents and statements made in court, Larry Kudsk of Berkeley, California, operated two construction businesses, Kudsk Construction, Inc., Gutierrez, Inc. Gutierrez, Inc.,

Construction 59

Construction California Tax payroll tax 59

MyIRSRelief

JANUARY 2, 2023

Types of IRS tax problems and how to resolve them. There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.),

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Tax tax return payroll tax audit 147

MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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audit payroll tax Tax auditor 130

CPA Practice

AUGUST 2, 2024

Nic Querolo Bloomberg News (TNS) Undocumented immigrants paid almost $100 billion of taxes, underscoring the importance of border policies on the country’s tax collections, according to a new report. billion, or roughly $9,000 per person, in taxes in 2022, the report shows. government. In total, undocumented immigrants paid $96.7

Tax 119

Tax payroll tax New York California 119

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

payroll tax 52

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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Tax bookkeeping Entertainment accountant 130

Cherry Bekaert

AUGUST 1, 2024

Research and Development (R&D) Tax Credits are an incentive for businesses investing in innovation. While the federal R&D tax credit is well-known, more than 35 states in the U.S. also offer R&D Tax Credits to businesses. The annual aggregate amount of R&D Tax Credit available is now $15.77

Maryland 69

Maryland Virginia Georgia Tax 69

RogerRossmeisl

MAY 20, 2021

This means that many workers previously classified as independent contractors are now employees under California law and you must withhold California income and payroll taxes, and meet California’s minimum wage and overtime requirements.

payroll tax 130

payroll tax California payroll CPA 130

Withum

FEBRUARY 29, 2024

While, baseball does not have a salary cap, this payment would have counted towards 30% of Major League Baseball’s (“MLB”) Competitive Balance Tax (CBT) threshold. The CBT, often called a luxury tax, was designed by baseball to discourage teams from accumulating player salaries more than the luxury tax thresholds.

Tax 97

Tax income tax Sports payroll 97

Withum

FEBRUARY 29, 2024

While, baseball does not have a salary cap, this payment would have counted towards 30% of Major League Baseball’s (“MLB”) Competitive Balance Tax (CBT) threshold. The CBT, often called a luxury tax, was designed by baseball to discourage teams from accumulating player salaries more than the luxury tax thresholds.

income tax 105

income tax Tax Sports payroll 105

CPA Practice

JULY 12, 2023

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 SUI Tax? The federal tax rate is a flat 6%.

income tax 98

income tax Tax South Dakota Alaska 98

inDinero Tax Tips

DECEMBER 13, 2022

The R&D tax credit, formally known as the Credit for Increasing Research Activities, represents a significant opportunity for innovative businesses to reduce their federal tax liability. Could your business be eligible for this tax credit? Do You Have a Federal Tax Liability? Are You Working Through Experimentation?

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Tax payroll tax income tax tax return 75

Patriot Software

JANUARY 16, 2023

California was the first state to create a paid family leave (PFL) program in 2002 (benefits became available in 2004). If you’re an employer in California, you must withhold PFL contributions from employees’ wages while running payroll. Read on to learn […] Read More.

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California Washington payroll payroll tax 81

PYMNTS

SEPTEMBER 11, 2019

California lawmakers passed a controversial labor bill on Tuesday (Sept. App-based businesses tried to work out immunity to no avail and the bill passed the California State Senate in a 29 to 11 vote, The New York Times reported on Wednesday (Sept. California Gov. The law would go into effect Jan.

California 60

California Oregon payroll tax New York 60

CPA Practice

NOVEMBER 6, 2024

This webinar will be held on Thursday, November 21, 2024 at 1:00pm ET Sponsor: CorpNet.com Duration: 1 Hour Register Now It’s best that accountants, CPAs, and tax professionals are up to date on entity advantages to assist their clients in making the best decision when it comes to choosing which entity option is best for their business.

Indiana 59

Indiana CPA Illinois payroll tax 59

PYMNTS

MARCH 1, 2020

A petition by Uber , Lyft and DoorDash to roll back a California law regarding gig economy workers has reached 1 million signatures and will head to voters at the ballot box this November, according to CNET.

California 61

California Expense Reimbursements payroll tax Healthcare 61

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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accountant accounted Account accounting and finance 130

xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. What Does a Tax Consultant Do?

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ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. Tax Planning and Advisory Guide—Health Care Reform—premium tax credit expansion) The SECURE 2.0

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Tax income tax tax planning payroll 52

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

payroll 59

payroll Tax income tax payroll tax 59

CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

Shay CPA

SEPTEMBER 18, 2024

Getting an audit notice from a tax authority is enough to stop most founders in their tracks. Here, though, we’re focusing on audits performed by tax authorities like the IRS and state tax boards. The audit notice you get tells you what tax authority is auditing you, and what kind of records they want to see and verify.

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audit auditor income tax payroll 52

CPA Practice

JUNE 27, 2024

Independent contractor, gig worker, freelancer; no matter how you make money, you’ll need to pay taxes on it. Failure to do so can result in fines and fees, and not least of all — headaches when tax time comes around. Others vary by county or city, like in California. But what licenses do you need?

Alaska 72

Alaska Legal California payroll tax 72

ThomsonReuters

JUNE 11, 2024

Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. Wylam added that these additional tax jurisdiction concerns can also occur at the local level.

accounting firms 59

accounting firms accounted accountant Account 59

ThomsonReuters

FEBRUARY 9, 2022

Typically, when an employer needs to terminate an employment relationship with workers, the employer’s unemployment tax rate for the following year may increase. If a state does not repay these loans within around two years, the Federal Unemployment Tax Act (FUTA) tax credit for employers in those states is reduced.

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payroll California Connecticut New Jersey 98

ThomsonReuters

MARCH 22, 2021

Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.

payroll 52

payroll Tax Texas Arkansas 52

Withum

JULY 25, 2024

The Research & Development (R&D) Tax Credit is one of the most lucrative tax incentives that companies can take advantage of to lower their federal and state tax liability or offset their quarterly payroll taxes (i.e., To properly calculate the R&D tax credit, you must calculate the total amount of U.S.-based

payroll tax 52

payroll tax Tax California payroll 52

ThomsonReuters

FEBRUARY 10, 2022

Department of Labor explains that unemployment insurance is a federal-state program financed through federal and state employer payroll taxes. Federal Unemployment Tax Act (FUTA) taxes are paid and reported by employers. Generally, most employers receive a FUTA credit and only pay a net tax rate of 0.6%

South Dakota 52

South Dakota Wisconsin North Carolina Nebraska 52

inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. What is an S Corp?

income tax 52

income tax Non-Profits payroll tax Tax 52

inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. What is an S Corp?

income tax 52

income tax Non-Profits payroll tax Tax 52

xendoo

JULY 15, 2022

Not only do you have to calculate wages, but you must also account for employment taxes—income, Social Security and Medicare. Also known as Employer Tax ID, an EIN is a unique nine-digit number that identifies your business for tax purposes. For example, a few states like Florida do not collect state income taxes.

payroll 59

payroll payroll tax income tax Tax 59

PYMNTS

MAY 6, 2020

Lyft said the losses came from stock-based compensation and payroll tax expenses, along with tens of millions of dollars going toward insurance liability costs. Roberts said the company is working to reduce expenses and EBITDA (earnings before interest, taxes, depreciation and amortization) losses, as well.

payroll tax 52

payroll tax California payroll Tax 52

Shay CPA

MARCH 13, 2024

Bringing on more headcount means more payroll (and payroll tax) complexity. They’re responsible for tracking your company’s cash flow, keeping an eye on your burn rate, and getting you set up for tax success. Some spreadsheets and a few dedicated hours each month might be enough to keep your books sorted.

accounting and finance 52

accounting and finance Finance payroll tax payroll 52

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. California. per hour. . per hour. . New Mexico.

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payroll Virginia Utah West Virginia 72

PYMNTS

JULY 6, 2020

million was embezzled by a former commercial real estate employee from Milan Capital Management, an Orange County, California company, leading to the imprisonment of the former employee, according to local OC-Breeze reports. million of that financing was obtained in the form of a Paycheck Protection Program loan, officials noted, with U.S.

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accounts payable Missouri payroll Real Estate 59