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Using Your R&D Tax Credit Against Payroll Taxes

Shay CPA

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. As a quick reminder, this is the 6.2%

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Using Your R&D Tax Credit Against Payroll Taxes

Shay CPA

As you wrapped up the 2022 books for your startup, you probably did some high-level financial review and analysis. For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. As a quick reminder, this is the 6.2%

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IRS Starts Accepting Returns and Extends Hours at Tax Assistance Centers

CPA Practice

These extra hours are in addition to the IRS opening or reopening 50 Taxpayer Assistance Centers that have occurred since Inflation Reduction Act funding became available in 2022. Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information.

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Boost Your Startup with the Revamped R&D Tax Credit: What You Need to Know

Shay CPA

Let’s dive in and examine what the Inflation Reduction Act of 2022 has in store for you. The Inflation Reduction Act of 2022 has brought some significant amendments to the R&D Tax Credit, making it more accessible and beneficial for qualified small businesses (QSBs). What’s New? How Does This Benefit Startups?

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Last Week in Payroll: Keeping Up with Taxes

ThomsonReuters

So, why the brief history lesson on American Colony taxes? To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times. For payroll, in particular, there are a number of taxes. Is there interest on the late taxes? A number of those pages will directly affect payroll.

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CPE Webinar September 12, 2023: Cybersecurity for the Tax Practitioner

CPA Practice

Jared Ballew, 2022-23 Chair of the ETAAC and Vice President of Government and Industry Relations at Taxwell; and Ann Campbell, CPA CIA and Drake Software Trainer will share an overview of the cyber threats that taxpayers and tax professionals face daily. Already registered for this webinar? Click here to log in.

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4 Ways Small Business Owners Can Stay Tax Compliant

xendoo

Instead of playing phone tag with your finance professional over missing documents, you can work with an online accountant who will determine the tax deductions you qualify for and file your taxes on your behalf, so you can get back to what you love – growing your business! . Pay Self-Employment Tax. April 18, 2022.

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