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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. for paying state unemployment tax. By Nellie Akalp.

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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Close your accounts. You’ve probably already thought about closing your bank accounts, but that’s not the only area where you need to get things sorted. Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts.

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These Are the Retirement Accounts You Should Withdraw From First

CPA Practice

The personal finance equivalents tend to go like this: “Save 15% of your pay. None of this common knowledge applies to actually getting your money out of your retirement accounts. In the next few paragraphs, I’m going to outline a standard withdrawal order for which of your accounts to withdraw from and when.

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Nonprofit 990 Tax Compliance: Navigating Challenges with an Enrolled Agent

MyIRSRelief

Understanding the Importance of Maintaining Tax-Exempt Status One of the primary concerns for any nonprofit is maintaining its tax-exempt status under IRC Section 501(c)(3). This status exempts nonprofits from federal income tax on their earnings related to their exempt purpose. and foreign tax laws. A : Not quite!

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Five Tax Strategies Retirees Should Consider Before Dec. 31

CPA Practice

When you retire, your taxable income, and thus your tax rates, fall. When you turn on Social Security and start taking distributions from retirement accounts, it pops back up. During this time, you can move money from pre-tax retirement accounts into Roth IRA accounts and pay taxes at your current rate.

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Professionals on the Move – May 2024

CPA Practice

Wolters Kluwer announces two senior executive appointments ­­­­Wolters Kluwer, a global leader in information, software, and services for professionals, recently announced Atul Dubey as General Manager of its Finance, Risk and Regulatory Reporting (FRR) business, part of its Corporate Performance & ESG (CP & ESG) division.