Withum

MAY 19, 2023

On May 8, 2023, Governor Phil Murphy signed into law A3946 , which effectively decoupled New Jersey from Federal Internal Revenue Code (“IRC”) section 280E. The bill, which has been making its way through the New Jersey legislature since May 12, 2022, states, “For cannabis licensees, New Jersey gross income under subsections b.

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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.

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MyIRSRelief

NOVEMBER 29, 2019

According to the IRS and the US Tax Code, there are three separate taxes that constitute what a business is responsible for as far as a payroll tax to the Federal Government (IRS). The same is true of the Unemployment tax that the business must pay for each employee. Tax debt relief.

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Shay CPA

DECEMBER 7, 2022

Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts. State franchise and income tax accounts. New Jersey. New York (and New York City, in particular). Washington.

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Shay CPA

MAY 1, 2024

And while you might think this is a newer issue that you can work around because state tax laws aren’t yet firmed up, think again. All the way back in 2012, a remote worker/taxable nexus case went before the New Jersey Superior Court. In Telebright Corp. Again, this hinges on state law, and it can get complicated.

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MyIRSRelief

OCTOBER 11, 2024

An Enrolled Agent can help ensure that you are taking advantage of all available deductions and credits to minimize your tax liability. They will carefully review your income, expenses, and other relevant information to prepare accurate and timely returns.

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xendoo

JANUARY 16, 2023

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

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