TaxConnex

JULY 25, 2023

will dictate which taxes and fees apply to your business. Some states have communications-specific taxes such as Florida whose communications service tax is inclusive of the state sales tax and a communications-specific tax that applies to telecom. to 7 percent.

Tax 246

Tax Florida Missouri Maryland 246

TaxConnex

APRIL 8, 2021

Of the 50 states, 45 (plus DC) charge a state-wide sales tax. Two of those states that have a state-wide sales tax, Missouri and Florida, have yet to adopt economic nexus standards set by the 2018 South Dakota v. 15 , which is reportedly projected to bring in about $1 billion a year in sales taxes and. Wayfair case.

South Dakota 162

South Dakota Sales Missouri Tax 162

Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties. affected taxpayer)?

Government 124

Government income tax tax return Florida 124

CPA Practice

MAY 8, 2023

Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year. Tennessee, Texas, and Florida are among the most commonly moved-to states, and it just so happens that these states don’t tax income.

New York 125

New York California North Carolina South Carolina 125

CPA Practice

FEBRUARY 11, 2023

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

TaxConnex

JUNE 21, 2022

Among states without a sales tax, Alaska municipalities were banding together to administer local sales taxes on remote commerce. Of all states with a sales tax, only Florida and Missouri remained holdouts when it came to enforcing economic nexus for out-of-state sellers. Wayfair tax obligations here to stay.

South Dakota 246

South Dakota E-commerce Alaska Missouri 246

TaxConnex

FEBRUARY 2, 2021

The total “tax” burden often exceeds 30%, making communications services one of the most heavily taxed industries as well. Some states may appear to not apply sales tax to certain communications services; however, be aware these states could have a specialty telecom excise tax.

Tax 189

Tax Missouri Maryland Pennsylvania 189

Withum

AUGUST 14, 2024

On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby.

South Carolina 126

South Carolina North Carolina Georgia Florida 126

CPA Practice

APRIL 7, 2023

In December 2022, Eunice Salley, a Chicago tax preparer, was sentenced to seven years in prison for filing false income tax returns on behalf of her tax preparation clients seeking more than $1 million in fraudulent refunds. Examples of civil injunctions obtained by the Tax Division over the last year include: On Jan.

tax preparation 132

tax preparation Tax tax return income tax 132

Withum

FEBRUARY 20, 2024

As is MLB tradition, players and fans alike are making their way to Arizona and Florida for Spring Training with the Cactus and Grapefruit Leagues, respectively, set to get under way in the coming days. The tax implications and overall economic impact will be felt throughout the league and the states in which they play.

income tax 59

income tax Arizona Florida Tax 59

Withum

FEBRUARY 27, 2025

In a tradition stretching back more than three decades, the Florida Institute of Certified Public Accountants (FICPA) held its annual liaison meeting with the states Department of Revenue (DOR). Florida State Tax Relief The department also discussed tax relief, specifically Governor Ron DeSantis plans for exemptions, holidays, and programs.

Florida 52

Florida income tax audit Real Estate 52

CPA Practice

AUGUST 4, 2023

However, the Mega Millions winner will have to pay considerable federal taxes. The IRS takes federal tax “off the top.” But the winner then pays additional federal income taxes based on the tax rate tied to their federal tax bracket, which will be high due to the multi-billion-dollar payout.

South Dakota 98

South Dakota New Hampshire Wyoming income tax 98

CPA Practice

JUNE 5, 2023

But the NBA Finals—and other sporting events—are connected to taxes in a big way. That’s partly due to a lucrative income tax imposed by all but five states known as the “jock tax.” And professional athletes aren’t the only ones affected by the tax. What is the jock tax? The tax has an interesting history.

income tax 118

income tax Tax Sports Nevada 118

CPA Practice

OCTOBER 2, 2023

Taxpayers affected by recent natural disasters including those impacted by the recent Maui fires and hurricane Idalia in parts of Florida, South Carolina and Georgia. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. This list continues to be updated regularly.

South Carolina 124

South Carolina Tax Georgia income tax 124

xendoo

MAY 30, 2021

Florida is among the most tax-friendly states in America. If you have a small or midsize business in the state of Florida, you may be shielded from many typical forms of small business taxes. But how can you know which tax laws apply to your business? income tax. Florida has a sales tax rate of 6%.

Florida 52

Florida Tax income tax bookkeeping services 52

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. 23 in Florida; Sept. 22, 2024, in Alabama; Sept. 24 in Georgia; Sept.

South Carolina 130

South Carolina North Carolina Tax Alabama 130

CPA Practice

FEBRUARY 28, 2025

A Florida man pleaded guilty today to orchestrating a nearly decade-long scheme to promote an illegal tax shelter and commit wire fraud. He also pleaded guilty to assisting in the preparation of false tax returns for tax shelter clients.

Florida 59

Florida Tax tax return income tax 59

CPA Practice

FEBRUARY 24, 2025

He proposed eliminating about 740 state jobs, while adding staff to other agencies in need of more people, such as the Department of Corrections.

Florida 110

Florida Government audit income tax 110

CPA Practice

APRIL 22, 2024

But bringing that amount home will require good deal more income, according to a recent analysis. The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes. You can see every state’s data here. _ ©2024 Advance Local Media LLC. Visit al.com.

South Dakota 116

South Dakota Alabama New Hampshire Wyoming 116

CPA Practice

OCTOBER 16, 2023

Taxpayers affected by recent natural disasters including those impacted by the recent Maui fires and hurricane Idalia in parts of Florida, South Carolina and Georgia. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. This list continues to be updated regularly.

South Carolina 111

South Carolina Georgia income tax Vermont 111

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

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

CPA Practice

JUNE 29, 2023

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file.

income tax 111

income tax Mississippi tax return Arkansas 111

TaxConnex

FEBRUARY 23, 2023

Mississippi introduced their sales tax in 1930, followed by many others (including Hawaii, which didn’t even become a state until 1959). These were followed in the 1940s by Florida, Tennessee, Maryland, Connecticut, Rhode Island and the District of Columbia; and in the 1950s by Maine, Pennsylvania, South Carolina, Georgia and Nevada.

West Virginia 130

West Virginia Sales Rhode Island Tax 130

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

CPA Practice

AUGUST 27, 2024

Once you hit the $1 million threshold, you pay more state tax in Massachusetts. It’s not like Tennessee or Florida or Nevada. Some of these teams have no state income tax. It’s unclear if the income tax had anything to do with Aiyuk’s decision, or if he wasn’t confident in the 2024 team.

Massachusetts 95

Massachusetts income tax Nevada Tennessee 95

CPA Practice

AUGUST 2, 2024

ITEP estimated tax payments including sales and excise taxes, property taxes paid directly or on taxes folded into rent payments, and payroll taxes, which are paid either through paycheck withholding or filing income tax returns.

Tax 119

Tax payroll tax New York California 119

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

FEBRUARY 2, 2023

A former Jacksonville company CEO was sentenced on January 30, 2023, to 32 months in prison for willfully attempting to evade the assessment of his federal income taxes. Goldberg of the Justice Department’s Tax Division and U.S. Handberg for the Middle District of Florida made the announcement. Attorney Roger B.

Florida 52

Florida Tax tax return income tax 52

Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia.

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

CPA Practice

APRIL 9, 2024

These taxes fund social insurance programs such as Social Security, Medicare, and unemployment benefits. Here’s a quick breakdown of payroll taxes: Federal Income Tax Withholding : Employers must withhold federal income tax from employees’ wages based on their W-4 Forms and Internal Revenue Service (IRS) guidelines.

payroll tax 110

payroll tax West Virginia payroll cpas 110

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan.

Tax 119

Tax income tax tax return payroll 119

CPA Practice

APRIL 11, 2024

Examples of civil injunctions obtained by the Tax Division over the last and current filing seasons include: On March 2, 2023, a federal district court in the Southern District of Florida permanently barred Rudy Aly, Rhonda Hudge, Cindy Odige and TUPS Tax LLC from preparing tax returns for others or owning or operating a tax preparation business.

tax return 116

tax return Tax tax preparation Florida 116

CPA Practice

AUGUST 9, 2023

state that fully taxes military pensions. ( But proposed legislation would exempt military retirement income from California state income tax — at least for the next ten years. “We tax years beginning on or after January 1, 2024, and before January 1, 2034). That’s because California is the only U.S.

California 98

California Tax income tax Nevada 98

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

CPA Practice

OCTOBER 4, 2024

State and eligibility expansion For the 2025 tax filing season, eligible taxpayers in 24 states will be able to use Direct File: 12 states that were part of the pilot last year, plus 12 new states where Direct File will be available in the upcoming filing season.

Alaska 126

Alaska South Dakota North Carolina tax return 126