ThomsonReuters

SEPTEMBER 12, 2023

How to manage state and local tax Do you have clients who live in one state but work in another state? If so, they may be able to lower income taxes through a state-by-state reciprocity agreement, should the agreement exist. Bilateral vs. unilateral agreements Do state reciprocity agreements apply to remote workers?

Indiana 98

Indiana Montana Pennsylvania Maryland 98

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. What if an Employer Withheld the Wrong State Taxes?

payroll tax 98

payroll tax payroll Rhode Island South Dakota 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 Account accountant 105

TaxConnex

DECEMBER 29, 2022

But others clung to hiking sale taxes: Kentucky considered gradually replacing its individual income tax with a broader sales tax. South Dakota rejected a proposal to cut the state sales tax. Illinois and Wisconsin would follow suit by the end of the year.

Sales 130

Sales Tax Maryland Louisiana 130

TaxConnex

OCTOBER 8, 2024

Utah State Tax Commission: One overview of online sales and use tax but also income tax info and how capital gains apply to gold and silver coins. West Virginia Tax Division: WV also covers it all, including local taxes and SST.

Sales 113

Sales Tax Rhode Island West Virginia 113

ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

LyfeAccounting

JULY 14, 2021

Well, although Texas has one of the highest property taxes in the country, it has one of the lowest income taxes. Texans pay ZERO income taxes, which is apparently very attractive to billionaires with a lot of income like Elon Musk. People in Wisconsin pay 1.85% of their home values in property taxes.

Rhode Island 52

Rhode Island New Hampshire Vermont Wisconsin 52

PYMNTS

NOVEMBER 22, 2019

Though tax compliance may be painful for businesses, those taxes are making positive impacts on residents’ lives. Wisconsin recently announced that its eCommerce sales tax collections are enabling it to reduc e income taxes on the state’s lowest earners by a commensurate amount.

South Dakota 63

South Dakota Missouri Wisconsin Louisiana 63

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 (..)

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

AUGUST 26, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

SEPTEMBER 20, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

SEPTEMBER 3, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

SEPTEMBER 6, 2023

If the sale of an NFT includes a royalty payment, the royalty payment would not be subject to Washington sales tax, but royalties B&O tax would apply to gross income earned from royalties.

Washington 120

Washington Pennsylvania Technology Tax 120

Anders CPA

MAY 15, 2023

Below we dive into the state and unemployment tax responsibilities employers need to know. It’s important to remember an out-of-state employee will be considered an employee in the state in which they work , not the state in which the business is based or in which the employee lives.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

CPA Practice

JULY 19, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system? million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 22, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions. million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions.

payroll 52

payroll Rhode Island West Virginia South Dakota 52

inDinero Accounting

DECEMBER 5, 2023

QSBS Rules by State While the QSBS applies universally to federal capital gains taxes, some states still levy capital gains taxes. How much capital gains tax an investor is safe from depends on when the stock was purchased. How much capital gains tax an investor is safe from depends on when the stock was purchased.

tax return 52

tax return Mississippi Wisconsin Alabama 52

ThomsonReuters

JULY 10, 2023

At the state level, it is not uncommon to have more than one sales tax rate. Items deemed necessities like groceries may have a lower tax rate (or even be exempt) in an effort to provide some low-income tax relief. As noted above, many states also have local sales taxes. Will Arizona use tax apply to this purchase?

Sales 97

Sales Tax Arizona Georgia 97

PYMNTS

JULY 13, 2018

The current quarter included a 10-cent per share income tax expense. . Officials said non-interest income was down $684 million from the first quarter of 2018, to about $9 billion in the second quarter, citing lower mortgage banking fees and other income. per share, while earnings came in at 98 cents.

South Dakota 40

South Dakota Wisconsin Real Estate Indiana 40

TaxConnex

JANUARY 13, 2022

Also, gift cards and cryptocurrency are a form of currency and should be treated as cash for sales tax purposes. Scott Hutchinson is advocating for the elimination of both the Sales and Use Tax as well as the Personal Income Tax. Pennsylvania Republican State Sen. billion, an increase of $3.26

Sales 246

Sales Utah Tax Wisconsin 246

TaxConnex

APRIL 18, 2023

WalletHub has a new survey of states’ tax burdens. WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in each state. Texas state sales tax revenue totaled $3.57

Sales 130

Sales North Carolina Tax Alaska 130

CPA Practice

NOVEMBER 1, 2023

“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 income tax revenue took a $1.3

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

TaxConnex

FEBRUARY 11, 2025

In Mississippi, have passed House Bill 1, which would eliminate the state income tax, trim the states high taxes on groceries and potentially raise municipalities sales taxes. Kansas sales tax on some groceries has now dropped to zero. The bill has advanced to the state senate.

Sales 147

Sales Arizona Tax Louisiana 147

TaxConnex

MARCH 2, 2021

House has passed a measure that would increase the general sales tax rate for clothing and many other items from 7% to 9.5%. The proposal, which now goes to the state’s Senate, would also phase out Mississippi’s personal income tax over 10 years and cut its grocery tax in half over five years. Wisconsin Democratic Gov.?

Sales 246

Sales Tax Missouri Wisconsin 246

CPA Practice

NOVEMBER 4, 2024

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?

Rhode Island 58

Rhode Island West Virginia South Dakota North Dakota 58

CPA Practice

OCTOBER 30, 2024

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?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

ThomsonReuters

APRIL 24, 2024

While there are over 20 local jurisdictions with municipal income taxes, he noted that the law does not exclude overtime wages from municipal occupational license tax. Individual state income tax usually follows the federal adjusted income, Wertz said, and the exclusion creates a modification.

West Virginia 52

West Virginia Alabama Legal Rhode Island 52

ThomsonReuters

FEBRUARY 22, 2021

to Milwaukee, Wisconsin for a CNN town hall where he focused on his $1.9 The Wisconsin Department of Workforce Development has a new emergency rule that continues to waive the work search requirements for people who apply for unemployment benefits during the COVID-19 emergency. Federal News. COVID-19 relief bill.

payroll 95

payroll Montana Wisconsin Gaming 95

CPA Practice

MARCH 26, 2024

By Laura Davison, Bloomberg News (TNS) The progressive rallying cry of “tax the rich” has morphed into a popular policy stance with voters in the key states that will decide the 2024 election, enjoying support even among those who prefer billionaire Donald Trump, according to the latest Bloomberg News/Morning Consult poll.

North Carolina 68

North Carolina Wisconsin Nevada Arizona 68

CPA Practice

AUGUST 15, 2024

By David Lightman McClatchy Washington Bureau (TNS) Kamala Harris has long urged lower federal income taxes for lower and middle class taxpayers, while supporting higher taxes for corporations and wealthier people—positions she’s reiterated since becoming the Democratic Party’s presidential nominee, without further details.

Tax 98

Tax income tax Wisconsin Washington 98

CPA Practice

AUGUST 13, 2024

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 income tax, though no bipartisan proposal has emerged this Congress. Republican Reps.

North Carolina 98

North Carolina Tax payroll tax Wisconsin 98