inDinero Tax Tips

APRIL 11, 2023

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax, physical and economic nexus tax, franchise tax, and gross income tax. Why Do So Many Companies Incorporate in Delaware?

Delaware 52

Delaware Nevada Sales Tax 52

Withum

AUGUST 24, 2023

The choice of where to establish one’s residency prior to a liquidity event can have far-reaching implications regarding income taxes and personal financial goals. Make sure you are considering the type of income when implementing state income tax planning techniques.

income tax 52

income tax tax planning South Dakota Wyoming 52

TaxConnex

MAY 2, 2023

Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969.

Alaska 130

Alaska Sales Tax New Hampshire 130

CPA Practice

APRIL 3, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

CPA Practice

FEBRUARY 13, 2023

Here is where investors can be introduced to a real estate asset class they don’t have to manage: a Delaware Statutory Trust (DST), which is a real estate investment vehicle that provides individuals fractional access to a commercial real estate property. You do not have to live in Delaware to participate in a DST.)

Real Estate 126

Real Estate Delaware Tax income tax 126

CPA Practice

APRIL 9, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

APRIL 12, 2023

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

DECEMBER 3, 2024

The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later. Here’s a review of some of the recent changes and updates. NOMAD news. Will “NOMAD” soon be just a NOD? Rate hike on the bayou.

Sales 162

Sales Tax Montana Alaska 162

CPA Practice

JUNE 20, 2023

Variety (via TNS) Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018, according to a court filing by the U.S. Attorney in Delaware.

Delaware 98

Delaware Tax Entertainment New York 98

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? Top 10 States With The Highest Income.

income tax 52

income tax South Dakota Tax Alaska 52

Anders CPA

MAY 23, 2023

Be aware that misclassifying an employee as an independent contractor with no reasonable basis for doing so can result in stiff punishment, including being held liable for employment taxes for that worker without the ability to access relief provisions. What if an Employer Withheld the Wrong State Taxes?

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

Shay CPA

SEPTEMBER 30, 2024

Under this rule, if a nonresident employee works from home for their own convenience, rather than out of necessity for the employer, New York considers those days as workdays in New York, making them subject to New York state income tax. This could result in a more favorable tax environment for both the company and its employees.

Delaware 52

Delaware New York income tax New Jersey 52

CPA Practice

JUNE 23, 2023

The tax implications of boot can be complex, as it is considered ordinary income and taxed at the federal level. State-level taxes are possible as well, based on an investor’s location. The rate is dictated by the investor’s income tax bracket.

Delaware 122

Delaware Real Estate Tax income tax 122

ThomsonReuters

JUNE 14, 2021

On June 8, 2021, legislation passed that would eliminate Delaware’s youth and training subminimum wages. Delaware law currently allows employers to pay a training wage (first 90 days for employees 18 or older) or a youth wage (employees under the age of 18) of $0.50 Significant tax bill passed. per hour minimum wage.

payroll 98

payroll Missouri Virginia Delaware 98

CPA Practice

JUNE 26, 2023

on July 1, after the sixth largest accounting firm in the nation by revenue officially changes from its current partnership structure to a professional services corporation based in Delaware. Even though partnerships aren’t taxed, they must file a tax return each year unless the partnership has no income or expenses.

income tax 72

income tax tax return Delaware cpa firm 72

CPA Practice

OCTOBER 9, 2024

The supplemental budget introduced by Governor Mills provides a blanket sales tax exemption to any nonprofit that’s exempt from federal income tax under Section 501(c)(3). Such entities no longer need to pay the state sales tax on items purchased as part of their mission. It can be painfully subjective.”

Maine 115

Maine Sales Tax Texas 115

ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

Withum

SEPTEMBER 6, 2024

The landscape of estate and tax planning has undergone a substantial transformation due to the Tax Cuts and Jobs Act of 2017 (TCJA), which effectively doubled the federal estate exemption to over $11 million (indexed for inflation to $13,610,000 in 2024) and is not scheduled to sunset until the end of the 2025 tax year.

New Jersey 59

New Jersey income tax Tax New York 59

Shay CPA

JANUARY 17, 2024

ASAP: Check state deadlines While a lot of states follow the IRS’s lead and require tax filings by mid-April, not all do. Usually, there’s not a ton of deviation from the IRS’s date — Iowa requires corporate income taxes by April 30, for example. You still need to pay any taxes you owe by April 15.

Delaware 52

Delaware Tax income tax Iowa 52

CPA Practice

OCTOBER 18, 2023

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

business tax 59

business tax Tax Alaska South Dakota 59

LyfeAccounting

JULY 22, 2021

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. So although property taxes are very low in the district of Columbia, it may not be the most affordable place to own property.

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

JULY 22, 2021

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. So although property taxes are very low in the district of Columbia, it may not be the most affordable place to own property.

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

CPA Practice

JANUARY 11, 2024

She helped found the Delaware chapter of the ACE Mentor Program in 2010. Since 2001, she has served as Treasurer to the Delaware chapter of the Construction Financial Management Association. LGA, LLP Welcomes Jeffrey S.

Delaware 59

Delaware Georgia CPA bookkeeping 59

Withum

JULY 29, 2024

While it’s preferable for an investment to show no taxable income while having positive cash flow during the period of ownership, the sale or disposition of such an investment creates a challenge from an income tax perspective when cashing in on the sale of appreciated property.

Real Estate 52

Real Estate Tax Delaware income tax 52

Cherry Bekaert

MAY 27, 2024

The new law applies to income tax years beginning after December 31, 2023. The act provides tax incentives for developers who take on the challenge of restoring and repurposing these buildings, breathing new life into communities and stimulating economic growth.

South Carolina 52

South Carolina Real Estate Tax Delaware 52

PYMNTS

MARCH 18, 2020

And Chevron hasn’t paid income tax in Australia for years and is planning to move into an expensive high-rise office in Perth-based Elizabeth Quay. Chevron’s system urges suppliers to discount their invoices in exchange for early payment. He called it “patriotism” to do so.

Delaware 56

Delaware income tax Finance Tax 56

ThomsonReuters

FEBRUARY 6, 2024

The differences between direct tax and indirect tax are important to understand. Direct tax is paid directly by the taxpayer to the government and cannot be shifted, like federal income tax. In contrast, indirect tax, such as business property taxes, can be passed on or shifted to others.

Tax 52

Tax income tax Oregon Ohio 52

CPA Practice

OCTOBER 23, 2024

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 (..)

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

AUGUST 26, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

JULY 5, 2024

Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA ), individuals and households that reside or have a business in: Blaine, Caddo, Cluster, Delaware, Jackson, Mayes, Muskogee, and Rogers counties qualify for tax relief. Under section 7508A, the IRS gives affected taxpayers until Nov.

Oklahoma 59

Oklahoma tax return income tax Delaware 59

CPA Practice

SEPTEMBER 20, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

SEPTEMBER 3, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Anders CPA

MAY 15, 2023

Below we dive into the state and unemployment tax responsibilities employers need to know. It’s important to remember an out-of-state employee will be considered an employee in the state in which they work , not the state in which the business is based or in which the employee lives.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

CPA Practice

JULY 19, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system? million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CTP

JULY 1, 2024

Determine the domicile From a tax perspective, where does it make sense for this entity type to be geographically based? Deciding on a domicile requires more thought than simply choosing a state with no income tax, such as Delaware, Nevada, or Texas. Domicile” is the official term for the principal place of business.

Tax 52

Tax Delaware Nevada tax planning 52

Shay CPA

OCTOBER 21, 2024

If you set up your corporation in Delaware, for example, but you have a New York location, you can still qualify. By certifying as a QETC, your business income tax rate is 0.04875 versus 0.0725, which is a considerable saving.

New York 52

New York Technology income tax corporation tax 52

Shay CPA

DECEMBER 7, 2022

Sales tax accounts. State franchise and income tax accounts. It can be helpful to sit down with your accountant to get a handle on all of the various accounts with which your business is associated, especially if you’ve been relatively hands-off with your company’s tax compliance. . Workers’ compensation. New Jersey.

tax accountant 59

tax accountant Tax tax return Account 59