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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.
Are you an employer in WestVirginia? If so, you might have heard about House Bill 2526, a 2023 law that significantly cut individual income tax rates. As a result, your WestVirginia income tax withholding might look a little different. Employers are […] Read More
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.
States with tighter schedules include Illinois and New York (up to 60 days) and Virginia (up to 15 days). She is the CEO of CorpNet , the most innovative way to start a business, register for payrolltaxes, and maintain business compliance across the United States.
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. WestVirginia. Payroll Changes Coming in July appeared first on Tax & Accounting Blog Posts by Thomson Reuters.
The program would be funded by 2% payrolltax, 1% paid by the employer, 1% paid by the employee ( L. WestVirginia. The post Federal Paid FMLA May Be Out While States Consider Possibilities appeared first on Tax & Accounting Blog Posts by Thomson Reuters. 2022, H447 ). . Proposed legislation ( L.
Property and payrolltaxes In addition to business or personal income taxes and sales tax, property and payrolltaxes are important considerations. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.
On November 19, 2021, the House passed a $2 trillion spending bill with a number of payroll-related provisions that include paid family and medical leave. Some payroll provisions. . Thomson Reuters’ Checkpoint payroll. House members voted mainly along party lines with a 220 to 213 final tally.
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