CPA Practice

JANUARY 29, 2024

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. Another option is the Direct File pilot program.

tax return 116

tax return Tax income tax tax preparation 116

inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. The 2023 version of the form can be downloaded here.

payroll tax 52

payroll tax payroll Agriculture Tax 52

inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. The 2023 version of the form can be downloaded here.

payroll tax 52

payroll tax payroll Agriculture Tax 52

Withum

NOVEMBER 28, 2023

Perhaps to a low-tax or no-tax state? If so, you are not alone, and here are some of the things you should be considering for income tax purposes. For employer-based plans, tax deductibility also can be maximized through payroll but is often overlooked.

income tax 52

income tax tax planning Tax payroll 52

Withum

SEPTEMBER 15, 2023

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021.

tax return 69

tax return payroll tax income tax Tax 69

Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

income tax 80

income tax Tax accounting standards accounting and finance 80

Withum

NOVEMBER 17, 2022

The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. Economic nexus presents risk and opportunity for service providers. Income tax apportionment. State payroll withholding.

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tax planning Tax income tax New York 52

Withum

MARCH 3, 2023

The dates these laws became effective vary by state, with Missouri’s requirement effective in 2023. The remaining five states do not impose a sales tax. To get started, you will need the following: Where the company currently files income tax, payroll tax, unclaimed property, and sales tax.

South Dakota 52

South Dakota Tax Real Estate Sales 52

xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax.

business tax 52

business tax Tax income tax payroll tax 52

Withum

AUGUST 3, 2023

On July 3, 2023, New Jersey enacted comprehensive tax legislation (A5323) that will likely impact every business in one shape or another. This includes investment management companies, such as investment advisors, hedge fund managers, mutual fund service providers, broker-dealers, and similar financial service businesses.

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New Jersey income tax Tax payroll 52

xendoo

JANUARY 30, 2023

Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. Since the IRS calculates the tax credit amount based on the amount a company spends on R&D, most early-stage startups don’t qualify for the full amount. For non-profits, it is up to 35%.

business tax 52

business tax Tax tax return income tax 52

Withum

JULY 28, 2023

Enacted on July 21, 2023, New Jersey A4694 creates a “Convenience of Employer” rule, affecting both employers and employees for payroll tax reporting purposes. Let’s Talk It is vital that businesses review their payroll tax withholding tax policies as remote work continues to be commonplace.

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New Jersey payroll tax payroll Tax 94

CPA Practice

APRIL 13, 2023

Income tax on crowdfunded assets According to the IRS, money raised through crowdfunding is generally considered taxable income. This means that the funds must be reported on your tax return and taxes must be paid on the amount received.

income tax 111

income tax payroll tax Tax tax return 111