Accounting Today

JULY 10, 2025

Taylor also filed or tried to file false individual income tax returns for himself for 2017 through 2021, underreporting income from We Are Taxes or failing to report the business entirely. As part of the scheme, the contractors issued payroll checks for the workers wages to the shell companies. All rights reserved.

Tax

CPA Practice

JUNE 19, 2025

Circuit Court of Appeals for the Federal Circuit ruled in 2021 that Congress wanted the double drawback to work the way it does when it enacted its 2015 paperwork-easing revision. cigarette brands are flooding the market thanks to a loophole in U.S. cigarette brands are flooding the market thanks to a loophole in U.S. ” The U.S.

Tax

CPA Practice

JULY 17, 2025

1099-K reporting threshold restoration: Reverts the threshold for online sales reporting to $20,000 or 200 transactions per year, as it was before 2021. It also raises the deduction cap on property expenses to $2.5 million, beginning Dec. The provision is applied retroactively to 2022.

Tax

CPA Practice

JULY 24, 2025

However, recurring claims for the last couple of months have hovered around the highest levels since 2021. Photo caption: A now hiring sign sets outside of Wendy’s in Saginaw, MI, on July 23, 2021. Weekly claims remain near the subdued levels seen prior to the pandemic, indicating employers are largely retaining staff.

Technology

CPA Practice

JULY 18, 2025

Premiums might get much pricier How it works now: Premium tax credits help taxpayers afford marketplace health insurance premiums. Since 2021, “enhanced” premium tax credits have been larger and available to more people.

Tax

CPA Practice

JULY 17, 2025

At the same time, recurring claims near the highest since 2021 suggests unemployed Americans continue to find difficulty in securing a new job as the pace of hiring has slowed. unemployment benefits declined for a fifth week in a row to the lowest level since mid-April, showing a resilient job market.

Technology

CPA Practice

JULY 15, 2025

Toy prices increased at the fastest pace since early 2021, while the costs of household furnishings and sports equipment climbed by the most since 2022. Inflation Insights LLC President Omair Sharif pointed out that excluding cars, core goods prices climbed 0.55% in June — the biggest monthly advance since November 2021.

Technology

CTP

AUGUST 10, 2023

These “ERC mills” make grand promises but provide very few details on how to actually qualify for this lucrative tax credit. Now more than ever, taxpayers need guidance to steer them away from ERC promoters and toward a well-formed tax plan that maximizes all possible tax credits. Tax-Exempt Organizations.

payroll tax

FusionCPA

NOVEMBER 24, 2020

Corporate income tax is the third largest source of revenue for the federal government. While the amount collected for corporate income tax pales when compared to individual income tax or payroll tax, it still accounts for 1.1 US corporations are taxed at a rate of 21 percent by the United States government.

corporation tax

Cherry Bekaert

APRIL 4, 2023

Cost Segregation Plus Services Conducting a cost segregation analysis can help your organization implement a tax planning strategy that could accelerate substantial depreciation deductions, reduce tax liability and defer tax payments. utilizing energy-efficient technologies, LEED® certification, etc.)

Tax

SkagitCountyTaxServices

MARCH 17, 2023

Getting into planning mode is going to require you actively carving out some time in your busy business owner schedule… whether you’re facing doing taxes on your own (not recommended) or meeting up with your favorite tax pro (wink, wink). Hiring family members can save on taxes if you follow IRS income tax thresholds.

tax planning

SkagitCountyTaxServices

DECEMBER 8, 2021

The end of the year is also a great time to make sure you’re getting the biggest tax bang out of your company’s retirement plan, anything from a SEP IRA to a Solo 401(k) to the combination of a 401(k) with a defined-benefit pension plan. 31, get ready to pay half that deferred amount by the last day of 2021. What a deal.

business tax

ThomsonReuters

JANUARY 16, 2024

There are new tax laws and changes that could affect your business’s year-end tax planning, including the SECURE 2.0 Act, which made some major changes to employee and employer retirement plans that take effect in 2023. Tax Planning and Advisory Guide—Health Care Reform—premium tax credit expansion) The SECURE 2.0

Tax

CPA Practice

AUGUST 31, 2023

Small business owners typically struggle with saving for retirement because they juggle operating expenses, payroll, taxes, and financing growth opportunities. Having a trusted advisor to help them prioritize and strategize to save for their future can help reduce stress, while also minimizing their tax liability.

quickbooks

LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

payroll tax

SingleTrackAccounting

MAY 13, 2021

These are expected to be financed with increased taxes targeted at high income brackets and corporations. According to the Tax Policy Center, the tax hikes would generate $2.4 trillion dollars between 2021 and 2030. We have been getting questions lately on how the new tax bill will affect small businesses.

Tax

KROST

NOVEMBER 24, 2020

In the last few months of the year, it is important to consider year-end tax planning opportunities, as many may provide both immediate and long-lasting financial benefits. The Protecting Americans from Tax Hikes Act of 2015 made the R&D credit permanent. This year has brought unique challenges and significant change.

tax planning

Going Concern

AUGUST 23, 2024

Over the past decade, however, there has been a marked increase in PE interest in professional services, including tax & accounting firms. What to know: Harris didn’t release a new tax plan. During the same period, he also did not pay the employer’s share of those taxes to the IRS.

audit