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

MyIRSRelief

OCTOBER 11, 2024

Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Personal Tax Preparation Personal tax preparation is one of the most common services provided by Enrolled Agents. This service involves preparing and filing individual tax returns, ensuring that all income, deductions, and credits are accurately reported.

tax services 130

tax services payroll tax Tax tax preparation 130

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. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

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

ThomsonReuters

JULY 13, 2021

The IRS requires the payer of certain income payments to be reported on information returns (e.g., Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed.

payroll 98

payroll income tax Vermont Iowa 98

CPA Practice

AUGUST 11, 2023

From the Kiplinger Consumer News Service (via TNS). Employee retention credits have been in the news lately. The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. million in tax refunds to Haynes’ clients based on false tax form filings.

New Jersey 98

New Jersey tax preparation Tax auditor 98

CTP

FEBRUARY 29, 2024

Without knowing that information, you can’t serve your client the legal help required to avoid paying IRS tax debts. First, you must classify gamblers, identify your clients in specific categories, and calculate estimated federal income tax. Lottery, horse track, poker tournament, and slot machine gambling are all taxed.

Gambling 105

Gambling Tax accountant Account 105

Going Concern

NOVEMBER 8, 2024

Law & Order Clark Hill Wins for Accounting Firm in Tax Dispute With Rock Band Member [ Clark Hill ] The Clark Hill trio convinced the court that the accounting firm was not liable for an employee’s business management and tax preparation services she provided on the side for a member of a rock band. Judge Brian R.

Florida 98

Florida Mississippi audit auditor 98

CPA Practice

SEPTEMBER 12, 2024

Allison graduated from Rowan University in New Jersey with a Bachelor’s degree in Accounting. Becca Martin specializes in partnership taxation and supports clients in tax planning, tax consulting and tax return preparation. She specializes in accounting and audits of insurance companies. She works remotely.

Kansas 104

Kansas Pennsylvania audit accounting and finance 104

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. . New Jersey. Washington.

tax accountant 59

tax accountant Tax tax return accountant 59

ThomsonReuters

FEBRUARY 9, 2022

In part 1 of my blogpost on 2022 payroll trends , I was recalling a recent weekend getaway from Hoboken, New Jersey to Miami Beach, Florida and how prevalent payroll is in our day-to-day lives. This comes to an additional $21 in FUTA tax per employee to the $7,000 annual taxable wage base. Virgin Islands.

payroll 98

payroll California Connecticut New Jersey 98

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.

business tax 52

business tax Tax income tax payroll tax 52

Withum

AUGUST 7, 2023

If a taxpayer purchases a new clean vehicle, the maximum federal income tax credit for personal clean vehicle energy purchases is $7,500 once provided the critical mineral and battery component requirements are met. Are There State Income Tax Incentives for the Purchase of a Clean Vehicle?

income tax 52

income tax New Jersey Manufacturing Sports 52

inDinero Accounting

DECEMBER 5, 2023

If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. QSBS Rules for Qualification QSBS Tax Treatment How to Report QSBS on Your Tax Return Conclusion What is the QSBS Exemption? This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

tax return 52

tax return Mississippi Wisconsin Alabama 52

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware offers perhaps the most favorable tax treatment to businesses. Historically, in the U.S.,

Delaware 52

Delaware Nevada Sales Tax 52

inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware does tax companies. The amount of franchise tax and how each state calculates the tax varies. Delaware’s franchise tax is no less than $175 and no more than $200,000 annually.

Delaware 60

Delaware Wyoming Nevada Oregon 60

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. However, a challenge can arise for smaller businesses when it comes to tax compliance and reporting.

accounting firms 59

accounting firms Account accountant accounted 59

CPA Practice

NOVEMBER 29, 2023

In light of the developments associated with efforts to the increasing digitalization of our economy – which has profound effects on sales taxability, income tax sourcing, and the application of Public Law 86-272, the panel covers the inconsistent interpretations of tangible person Property. So, Now What Do We Do?

New York 52

New York Tax Connecticut New Jersey 52

CPA Practice

JULY 26, 2024

By Karin Price Mueller, nj.com (TNS) New Jersey residents will have a new way to file their federal tax returns when it’s time to file for 2024, the IRS and state officials said Wednesday. The program will now be a permanent option for taxpayers in states that choose to participate, and New Jersey said it’s in.

New Jersey 105

New Jersey tax return income tax Tax 105

TaxConnex

MARCH 2, 2021

Estimates reportedly said the tax will generate up to $250 million but opponents promise legal challenges. Maryland has also extended time free of interest and penalties to file sales and use tax returns due between Jan. This affects returns for sales taking place from December through this month.

Sales 246

Sales Tax Missouri Wisconsin 246

Going Concern

JULY 8, 2022

Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D. New Jersey CPA Admits to Concealing $147,000 From the IRS [ CPA Practice Advisor ]. The charges included bank fraud, embezzlement, and tax evasion.

North Carolina 52

North Carolina Delaware accountant Account 52