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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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IRS Announces Tax Relief for California Taxpayers Affected by Winter Storms

Withum

The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. Contact Us. Let’s Chat.

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IRS Form 941: What Employers Need to Know in 2023

inDinero Tax Tips

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.

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IRS Form 941: What Employers Need to Know in 2023

inDinero Tax Tips

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.

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Do You Need Help With 174?

Withum

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.

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Nexus FAQs

Withum

Supreme Court interpreted sales tax nexus under the Commerce Clause as a minimal physical connection with a state; however, in South Dakota v. 2080 (2018) , the Supreme Court held that physical presence is no longer the only requirement for sales tax nexus and expanded the meaning of nexus to include sales into a state by a remote seller.

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The Present & Future of CAS for Accounting Firms

CPA Practice

In December 2023, more than 20 of the profession’s thought leaders met for the Accounting Meta Influencers roundtable discussion on the present and future of CAS, and what this evolving phenomenon will mean for firms, for professionals, and for clients. Whether that’s tax advisory, or business advisory.