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As accountants and CPAs, dealing with payrolltaxes is essential to managing finances for your business clients. Understanding the details of payrolltaxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. By Nellie Akalp. for both employees and employers.
Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payrolltax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payrolltax problems.
In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication. Fill out the form below to access this resource.
Due to severe storms in August 2023, individuals and business taxpayers in some Michigan counties have until June 17, 2024, to file various federal individual and business tax returns and make tax payments, the the Internal Revenue Service has announced. Quarterly estimated incometax payments normally due on Sept.
As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. State by State PayrollTax Changes. The following local incometax rates will increase on July 1: (1) Cridersville increases to 1.5% Negative reporting is not accepted.
Recordkeeping Good recordkeeping is essential for tax compliance. Cannabis businesses should maintain detailed records of all transactions, including sales, purchases, payroll, and other expenses. Estimated Tax Payments Cannabis businesses, like other small businesses, are required to make quarterly estimated tax payments.
This changing employment landscape requires employers to reassess their payrolltax 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.
So, why the brief history lesson on American Colony taxes? To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times. For payroll, in particular, there are a number of taxes. Is there interest on the late taxes? A number of those pages will directly affect payroll.
Download the guide to ensure your next payroll software platform is the right one. Download the e-book today and take the first step toward positioning your firm for success with the power of collaboration. Sign in or subscribe to get access to this free resource, and all of our whitepapers.
Download the guide to ensure your next payroll software platform is the right one. IRIS works with thousands of CPA firms in North America, including 52 of the top 100 CPA firms in the US, and provides innovative solutions to serve accountancy customers in the North American market, making IRIS the go-to partner for CPAs.
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 (..)
Download the guide to ensure your next payroll software platform is the right one. IRIS has over 100,000 UK and international customers, with 80% having a tenure of five or more years. Sign in or subscribe to get access to this free resource, and all of our whitepapers.
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?
UHY Acquires Michigan Firm. Sanchez was responsible for DFC’s accounting and financial records, and for collecting and paying over certain federal taxes from DFC’s employees, namely federal incometaxes and Federal Insurance Contribution Act taxes, which include Medicare and social security taxes.
“Moreover, some of the income for high-income workers is often dependent on the stock market performance, which declined in 2022.” The knocks to personal incomes affected state revenues. In Connecticut, personal incometax revenue took a $1.3
Michigan’s largest accounting firm opens first office in New York City [ Bloomberg ] Plante Moran, a century-old accounting and management consulting firm based in Michigan, is expanding its presence beyond its Midwestern US base with an office in New York City.
March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the incometax filing deadline. Now, let’s take a look at this past week in payroll and go over a few of the more interesting stories buzzing about in the industry. In the U.S., Federal News.
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?
million – $4,999,999 $5 million – $10,000,000 Over $10 million What software or tools are you using to manage your engagements, or how does your team currently manage client engagements and reporting processes?
And seniors are well-represented in swing states like Pennsylvania, Michigan, Wisconsin, Florida and Arizona. Members of Congress on both sides of the aisle have pushed to exempt Social Security payments from incometax, though no bipartisan proposal has emerged this Congress. Republican Reps. Angie Craig, D-Minn.,
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