Going Concern

AUGUST 12, 2022

A man in Connecticut is accused of taking $373,201 in PPP loans to fund a phony accounting firm : Eric James O’Neil, 57, was arrested Aug. He submitted a payroll log showing 22 employees and their salaries, as well as quarterly tax and corporate income tax forms. O’Neil formed Accountant “R” Us Inc.

Idaho 57

Idaho Connecticut Tax income tax 57

inDinero Tax Tips

DECEMBER 13, 2022

The research and development tax offsets, on a dollar-per-dollar basis, future federal income tax liability. The tax credit can also carry over for up to 20 years, so even if you don’t have a federal income tax liability this year , then it is still well worth investigating your eligibility for the R&D tax credit.

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Tax payroll tax income tax tax return 75

PYMNTS

SEPTEMBER 8, 2020

For example, in New York state, the top marginal income tax rate is nearly 9 percent, plus another 3 percent in New York City. Yet, in neighboring Connecticut, the top income tax rate is 7 percent. Other states, like Florida, may have no state income tax. Overcoming The Roadblocks.

income tax 68

income tax payroll Connecticut Real Estate 68

CPA Practice

NOVEMBER 1, 2023

Incomes didn’t grow as much in most of the Northeast, partly because low-wage service workers have fared better than the high earners who predominate in the region, said Lucy Dadayan, principal research associate at the Urban-Brookings Tax Policy Center. Those states still have among the highest incomes, though.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

ThomsonReuters

MARCH 15, 2021

March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the income tax filing deadline. Now, let’s take a look at this past week in payroll and go over a few of the more interesting stories buzzing about in the industry. In the U.S., Federal News.

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payroll Connecticut Massachusetts income tax 98

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. Federal News.

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payroll income tax California North Dakota 52

ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. How is the EITC changing?

Tax 52

Tax income tax tax planning payroll 52

ThomsonReuters

JUNE 10, 2021

Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Among the book’s provisions include: (1) increasing the employer provided childcare tax credit for businesses, (2) creating a new general business credit equal to 10% of the eligible expenses paid or incurred in connection with onshoring a U.S.

payroll 98

payroll Vermont Tax Connecticut 98

ThomsonReuters

OCTOBER 6, 2021

State income tax is a direct tax on business income you’ve earned in a state. It sounds straightforward, but this is a complex topic: States have various ways of calculating how much of your corporation’s business income is attributable to its presence and activity there. What is apportionment in taxes?

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income tax Tax payroll Massachusetts 52