2024 CPA income tax payroll tax 
CPA Practice
APRIL 9, 2024
As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. for paying state unemployment tax.
Anders CPA
MAY 23, 2023
Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.
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Snyder
FEBRUARY 12, 2023
Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.
CPA Practice
MARCH 18, 2024
The state’s Supreme Court recently upheld a controversial capital gains tax , which has been re-challenged in court and could be on the state’s ballot in November for potential repeal. Will other states, like California, implement similar initiatives involving payroll tax deductions? of your adjusted gross income.
CPA Practice
FEBRUARY 12, 2024
However, this isn’t the first time lawmakers have introduced legislation to end income tax on Social Security benefits. As Kiplinger reported, the Social Security tax wage base jumped 5.2% from 2023 to 2024. The Social Security payroll tax wage base was $160,200 last year. Here’s what you need to know.
CPA Practice
FEBRUARY 23, 2024
An S Corp must report corporate income, losses, and deductions through its shareholders/owners, and in turn, the shareholders/owners report company income on their personal income tax returns. Lastly, owners who perform “substantial work” as employees must adhere to payroll tax requirements. corporation.
CPA Practice
SEPTEMBER 8, 2023
Background : With an FSA, a participating employee generally funds his or her account with pre-tax dollars through a salary reduction plan. Therefore, the employee saves both income tax and payroll taxes on contributions to the plan. Similarly, the employer saves on its share of payroll taxes.
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