MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations. Q: My nonprofit is tax-exempt. A : Not quite!

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Withum

OCTOBER 3, 2024

2023 Federal Form 1120 (C Corporations) April 15, 2023 October 15, 2024 May 1, 2025 2023 C Corporation Tax Payments April 15, 2023 June 15, 2023 September 15, 2023 December 15, 2023 N/A The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred.

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MyIRSRelief

JANUARY 3, 2022

With tax season coming up fast, our thoughts will soon be turning to our books and accounts, as we look to get all of our taxes in order so as to appease the wrath of the tax man. If you’re a small business owner, you will likely already be aware that employment 941 payroll trust fund taxes can cause monumental headaches.

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Withum

JANUARY 12, 2023

Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023. Contact Us. Let’s Chat.

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inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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Withum

FEBRUARY 27, 2023

Affected individuals and businesses will have until October 16, 2023, to file returns and pay any taxes, including 2022 individual income tax returns due on April 18 and various 2022 business returns normally due on March 15 and April 18, 2023. What Items Are Now Extended Until October 16, 2023?

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Withum

SEPTEMBER 1, 2023

The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief. Quarterly estimated income tax payments normally due on Sept. Quarterly payroll and excise tax returns normally due on Oct. 15, 2023, and Jan.

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CPA Practice

JANUARY 29, 2024

Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. Taxpayers with income of $79,000 or less last year – and that’s most taxpayers – can use IRS Free File Guided Tax Software now through Oct 15.

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Inform Accounting

NOVEMBER 28, 2022

With all of the U-turns on tax policy in the last couple of months, businesses may be confused about what changes are going ahead and which ones have been scrapped by the new chancellor. If the end-user organisation is also the fee-payer, they will need to deduct and pay Income Tax and National Insurance contributions to HMRC.

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ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. Small businesses often have very limited staff, which means the owner or one of the employees is in charge of payroll. Bookkeeping.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. Discuss Payment Options: If you owe taxes, discuss payment options with your advisor. What should I do?

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Withum

JANUARY 31, 2024

The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments. Please note that, as of this time, Rhode Island has not provided an extension of time to file the state income tax returns.

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inDinero Tax Tips

JUNE 12, 2023

Fringe Benefits The most straightforward practice is to amend your payroll reports and recategorize the commingled purchase as fringe benefit compensation. The IRS’s Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as a “form of payment for the performance of services.”

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Withum

FEBRUARY 6, 2023

ISOs offer many tax benefits, making them an attractive option for employees who wish to partake in the future growth of their employer’s stock. Tax Benefits of ISOs One of the many benefits of ISOs is the deferral of income tax until they are exercised. net investment income tax).

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CPA Practice

OCTOBER 22, 2024

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.

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xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. 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.

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Withum

NOVEMBER 28, 2023

Perhaps to a low-tax or no-tax state? If so, you are not alone, and here are some of the things you should be considering for income tax purposes. For employer-based plans, tax deductibility also can be maximized through payroll but is often overlooked.

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CPA Practice

AUGUST 26, 2024

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.

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CPA Practice

SEPTEMBER 20, 2024

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.

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MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. This is a dollar-for-dollar offset of any federal income tax liabilities, as well as payroll tax liabilities in special circumstances too.

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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 (..)

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CPA Practice

JULY 19, 2024

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.

Rhode Island 52

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Withum

NOVEMBER 17, 2022

The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. Economic nexus presents risk and opportunity for service providers. Income tax apportionment. State payroll withholding.

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xendoo

AUGUST 2, 2023

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. An S corp is a tax classification.

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xendoo

AUGUST 2, 2023

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. An S corp is a tax classification.

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xendoo

JANUARY 6, 2022

Instead of playing phone tag with your finance professional over missing documents, you can work with an online accountant who will determine the tax deductions you qualify for and file your taxes on your behalf, so you can get back to what you love – growing your business! . Pay Self-Employment Tax.

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CPA Practice

SEPTEMBER 3, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use?

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Withum

SEPTEMBER 15, 2023

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021. appeared first on Withum.

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LyfeAccounting

JULY 20, 2021

Additionally, if you plan to have employees you will need an EIN number to file your payroll taxes. But the biggest reason you need an EIN is to file your business taxes. In most states, you will need to register to pay state-specific business taxes, including income taxes, employment taxes, and sales taxes.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. There is still no wage base limit for Medicare tax.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. There is still no wage base limit for Medicare tax.

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Withum

OCTOBER 11, 2023

However, the recent Notice provided a reasonable application of what expenditures would not be considered under IRC §174 R&E expenditures, including: General and administrative service department or function costs that only indirectly support or benefit R&E activities (e.g.,

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Withum

AUGUST 3, 2023

This resulted in C corporations and S corporations sourcing receipts to New Jersey if the benefit of the service is received at a New Jersey location. At the time, the use of “cost of performance” sourcing remained unchanged for Gross Income Tax purposes (i.e., partnerships and sole proprietors). appeared first on Withum.

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Withum

MARCH 3, 2023

The remaining five states do not impose a sales tax. To get started, you will need the following: Where the company currently files income tax, payroll tax, unclaimed property, and sales tax. Where your company has employees, sales representatives, or solicitors of sales and services. Who needs it?

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xendoo

JANUARY 30, 2023

Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. Since the IRS calculates the tax credit amount based on the amount a company spends on R&D, most early-stage startups don’t qualify for the full amount. Tax credits are powerful tools.

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Snyder

JANUARY 19, 2023

We have our regular workload, and then add in 500 personal income tax returns with myself being the only one who actually works on the returns. We have a tight workflow, and we don’t take on anything new until after tax season ends. Want to automate your clients’ payroll? What’s the most challenging thing about this time?

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