CPA Practice

APRIL 3, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 111

Rhode Island Alaska Tax New Hampshire 111

CPA Practice

APRIL 9, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 105

Rhode Island Alaska Tax New Hampshire 105

CPA Practice

JUNE 21, 2023

By Tylor Willis, CFP, The Kansas City Star (TNS) Most of us want to preserve or grow our wealth. One crucial aspect of wealth management is creating a holistic financial plan that includes your estate and tax strategy. ©2023 The Kansas City Star. Here are four strategies to consider adding to your financial plan.

Kansas 101

Kansas Tax income tax tax planning 101

TaxConnex

AUGUST 15, 2023

Kansas no longer taxes delivery charges , as of July 1. Among the provisions was adoption of the state’s economic nexus sales tax thresholds (200-plus transactions or receipts of more than $100,000) for income tax purposes. The enhanced its map of sales and use tax lookup rates.

Sales 130

Sales Tax Alabama Texas 130

CPA Practice

JANUARY 30, 2023

tax on the first $160,200 of your 2023 SE income. on all of your SE income. All of this is before your income tax liability. You have reasons to try to avoid this tax. So this SE tax can apply to your share of partnership income. If you are self-employed (SE), you pay a 12.4%

Tax 98

Tax Kansas income tax 98

CPA Practice

JANUARY 23, 2023

By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. Grocery taxes that remain are “there for a reason. Kansas Gov.

Idaho 111

Idaho South Dakota Tax Kansas 111

TaxConnex

JANUARY 13, 2022

There’s always something changing in the world of tax, especially sales tax. Kansas Gov. Laura Kelly has asked the state Department of Revenue to work with state legislators representing the communities impacted by recent wildfires to fast-track legislation extending the sales tax exemption for fence materials and services.

Sales 196

Sales Utah Tax Wisconsin 196

TaxConnex

JANUARY 4, 2024

Last summer, for instance, Puerto Rico gave a break on school uniforms and supplies; Alabama cut shoppers tax slack on school supplies, clothing and computers. This year, multiple states introduced new sales tax exemptions, too. Virginia, Alabama and Kansas gave breaks on groceries. National sales tax H.R.25

Sales 231

Sales Tax Colorado Alaska 231

TaxConnex

APRIL 12, 2022

A Kansas House tax committee has approved legislation that would shrink the overall statewide sales tax on general purchases to 6.3% and nearly halve the state sales tax on groceries, to 3.5%. The legislation wouldn’t alter local city or county sales tax. Sales tax relief isn’t being proposed everywhere though.

South Dakota 207

South Dakota Sales Tax North Carolina 207

CPA Practice

APRIL 12, 2023

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

JULY 12, 2022

Kansas retail sales tax collections in May were $240.8 over May 2021 sales tax receipts, the governor said. The current online resource used for sales tax filing (e-TIDES) will be retired this November and the state will move sales tax services to the online system currently used for most other tax types, myPATH.

Sales 177

Sales Tax Oklahoma Illinois 177

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

TaxConnex

DECEMBER 29, 2022

One Pennsylvania legislator called for elimination of that state’s sales and use tax (echoing a colleague’s earlier call for a two-month break from the state’s sales tax in the coming summer, citing inflation). Colorado and Florida were among states considering or granting sales tax breaks on baby items.

Sales 130

Sales Tax Maryland Louisiana 130

MyIRSRelief

NOVEMBER 29, 2019

According to the IRS and the US Tax Code, there are three separate taxes that constitute what a business is responsible for as far as a payroll tax to the Federal Government (IRS). The same is true of the Unemployment tax that the business must pay for each employee.

payroll 140

payroll payroll tax Tax income tax 140

CPA Practice

JANUARY 31, 2023

Gabe Rivers focuses on providing income tax planning and tax compliance services to high-net-worth individuals and families, partnerships, S corporations, trusts, and private foundations.Gabe holds a Bachelor of Business Administration and a Master of Accountancy from the University of Tennessee.

New Hampshire 110

New Hampshire Georgia Virginia public accounting 110

PYMNTS

DECEMBER 2, 2019

The PSAF is “an allowance for income taxes and other imputed expenses that would have been paid and profit that would have been earned if the Reserve Banks’ priced services were provided by a private business,” per the release. The 2020 private-sector adjustment factor (PSAF) of $18.9 million was also approved.

Kansas 40

Kansas income tax Tax 40

PYMNTS

OCTOBER 24, 2019

State and local governments aren’t satisfied with stopping their tax updates there, however, with many exploring if the Supreme Court ruling also opens the door to applying a wider range of taxes on remote merchants including corporate net income tax. Around The Next-Gen Sales Tax Worl d.

Sales 40

Sales Tax Kansas South Dakota 40

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

ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans.

income tax 64

income tax Kansas Kentucky Tax 64