CPA Practice

FEBRUARY 27, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns.

Tax 95

Tax Alabama tax return Georgia 95

Dent Moses

JUNE 14, 2023

The Alabama Legislature recently passed HB217 which was signed into law by Governor Ivy. The bill eliminates the 5% tax on overtime pay for a fixed period of time. Key Provisions: The bill exempts Alabama state tax withholding on overtime from January 2024 through June of 2025 – extension will require a renewal by lawmakers.

income tax 52

income tax Alabama Tax payroll 52

ThomsonReuters

MARCH 8, 2021

Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. Unemployment tax rate rollback. Federal News. Senate passes $1.9

payroll 52

payroll Connecticut Alabama Virginia 52

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

ThomsonReuters

JUNE 22, 2021

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 Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax. On July 1, the minimum wage increases to $9.00 New Mexico. per hour. .

payroll 72

payroll Virginia Utah West Virginia 72

ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Now let’s go over some federal and state payroll stories from the past week. This includes withholding taxes.

payroll 52

payroll income tax California North Dakota 52

Xero

JANUARY 9, 2024

David Rogowiec, Partner, Equivion David worked at Deloitte on the Multi-State Tax team for two years prior to starting Equivion. Trey Fulmer, Director of Client Services, LUCA Trey Fulmer is the founder and CEO of LUCA , an Alabama-based modern accounting and bookkeeping firm.

Alabama 78

Alabama bookkeeping Technology E-commerce 78

CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. Who is eligible? What’s on the horizon?

Hawaii 98

Hawaii payroll tax South Dakota payroll 98

Going Concern

AUGUST 25, 2023

News US Accounting Board Looks Across the Ocean to Fill Hole in Rules [ Bloomberg Tax ] The flood of government aid that helped keep companies afloat during the coronavirus pandemic exposed a hole in US accounting rules: Businesses have no way to record the grants, loans, and tax breaks that bolstered their bottom lines.

tax preparation 95

tax preparation CPA payroll tax Illinois 95

ThomsonReuters

JULY 26, 2022

per hour effective July 24, 2009 (see Payroll Guide ¶18,200 ). See Payroll Guide ¶19,010 for a list of the current state minimum wage rates and further wage and hour information. Five states do not have a state minimum wage requirement: Alabama, Louisiana, Mississippi, South Carolina, and Tennessee. Exceptions.

North Dakota 98

North Dakota South Carolina North Carolina Michigan 98

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. In 2011, Delaware garnered $860 million in taxes and fees from out-of-state business entities incorporated under its laws. With so few taxes, how does Delaware rake it in?

Delaware 64

Delaware Wyoming Nevada Oregon 64

ThomsonReuters

FEBRUARY 7, 2022

The program would be funded by 2% payroll tax, 1% paid by the employer, 1% paid by the employee ( L. Try Checkpoint Edge FREE for 7 days and get instant access to Quick Reference Charts on Paid Family and Medical Leave programs ( Payroll Guide ¶19,022 ) and State Family and Medical Leave laws ( Payroll Guide ¶20,030).

Missouri 98

Missouri Rhode Island Nebraska Mississippi 98

PYMNTS

APRIL 10, 2020

For example, Seattle announced that it will allow eligible businesses to defer business and occupation taxes and expand its Small Business Stabilization Fund. For microbusinesses — those with less than five employees — the city will provide grants that cover 40 percent of payroll costs for two months.

Maine 56

Maine Alabama Real Estate Colorado 56

ThomsonReuters

JANUARY 24, 2022

A spokesperson for the Alabama Department of Labor has informed Thomson Reuters that claims related to vaccine refusal will be reviewed on a case-by-case basis. The post Employer Vaccine Mandates, Worker Refusals, and Unemployment Benefits appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Legislation ( L.

Rhode Island 119

Rhode Island West Virginia South Dakota Maryland 119