CPA Practice

SEPTEMBER 25, 2023

15, 2024, to file their tax returns and make tax payments because of Hurricane Lee’s impact. The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA) , and all 16 counties in Maine and all 14 counties in Massachusetts qualify. 15, 2023, and Jan. 31, 2023, and Jan.

Massachusetts 115

Massachusetts Maine Tax income tax 115

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.

tax return 116

tax return Tax income tax tax preparation 116

Ronika Khanna CPA,CA

JUNE 7, 2024

for example payroll remittances are referred to as deductions at source). It is therefore prudent for both sole proprietorships and incorporated businesses to keep on top of their tax filings In this article I enumerate the tax obligations for most small businesses in Canada along with links to articles to help you understand each one better.

Tax 98

Tax corporation tax tax return payroll 98

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.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. 15, 2024, (postponement period). These taxpayers now have until Feb. 15, 2023, and Jan.

Tax 119

Tax income tax tax return payroll 119

CPA Practice

FEBRUARY 27, 2024

The Internal Revenue Service announced today tax relief for individuals and businesses in parts of California affected by severe storms and flooding that began on Jan. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments.

tax return 69

tax return income tax California payroll 69

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.

payroll tax 59

payroll tax Washington payroll Tax 59

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.

payroll tax 52

payroll tax payroll Tax income tax 52

CPA Practice

JANUARY 24, 2024

IRS officials announced the agency would extend its April 15 filing deadline for those taxpayers, who now have until June 17, 2024 to submit tax returns and make tax payments. The IRS asks that all making such claims include the FEMA disaster declaration number 3604-EM on any return claiming disaster-related losses.

Connecticut 72

Connecticut Tax tax return income tax 72

CPA Practice

SEPTEMBER 13, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. 15, 2024, to file various federal individual and business tax returns and make tax payments. 15, 2024 (postponement period). 30, 2023, through Feb.

Georgia 105

Georgia South Carolina income tax tax return 105

Withum

SEPTEMBER 1, 2023

The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period. Affected individuals and businesses therefore will have until February 15, 2024 to file tax returns and to pay any taxes that were originally due during the postponement period.

Tax 98

Tax tax return Florida payroll 98

CPA Practice

FEBRUARY 5, 2024

The disaster declaration also means that Rhode Island businesses and residents impacted by the storm have until June 17, 2024, to meet various tax filing and payment deadlines originally due between Sept 10, 2023, and June 17, 2024. 2023 quarterly estimated income tax payments normally due on Jan.

Rhode Island 52

Rhode Island Tax income tax tax return 52

CPA Practice

AUGUST 19, 2023

The Internal Revenue Service will allow Hawaii taxpayers in Maui and Hawaii counties extra time – until February 15, 2024 – to file various federal individual and business tax returns and make tax payments that would have been normally been due before then. 15, 2024 (postponement period). 8, 2023, through Feb.

Hawaii 97

Hawaii Tax income tax tax return 97

CPA Practice

FEBRUARY 16, 2024

Due to severe storms in August 2023, individuals and business taxpayers in some Michigan counties have until June 17, 2024, to file various federal individual and business tax returns and make tax payments, the the Internal Revenue Service has announced. 24, 2023, through June 17, 2024 (postponement period).

Michigan 59

Michigan Tax tax return income tax 59

CPA Practice

SEPTEMBER 12, 2023

15, 2024, to file certain tax returns and make tax payments that were originally due between Aug. 15 to file quarterly payroll and excise tax returns that were normally due on Oct. 15 to file quarterly payroll and excise tax returns that were normally due on Oct. 29 and Feb.

South Carolina 64

South Carolina Tax tax return income tax 64

CPA Practice

DECEMBER 27, 2023

Eligible individuals and businesses now have an extended tax deadline of June 17, 2024. The extended deadline applies to various tax filings and payments originally due between Dec. 9, 2023, and June 17, 2024. 9, 2023, through June 17, 2024. Quarterly estimated income tax payments normally due on Jan.

Tennessee 69

Tennessee Tax income tax tax return 69

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.

payroll tax 119

payroll tax Healthcare Account accountant 119

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.

payroll tax 78

payroll tax Non-Profits Legal payroll 78

CPA Practice

APRIL 3, 2023

Individuals and households that reside or have a business in Cross, Lonoke and Pulaski counties in Arkansas now have until July 31, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service has announced.

Arkansas 98

Arkansas Tax tax return income tax 98

Cherry Bekaert

FEBRUARY 7, 2024

Taxation Considerations Similar to S corps, LLCs (and partnerships) are considered “pass-through” entities in which a business’s income and expenses flow through to the partners and are reported on the partners’ personal income tax returns. This means that the partnership does not pay income tax.

Real Estate 103

Real Estate Tax income tax Legal 103

ThomsonReuters

MARCH 6, 2024

Because the ERC expired for most employers on September 30, 2021, the credit is claimed by submitting an amended employment tax return on Form 941-X. It should be noted that planned changes are coming in June of 2024.) However, Form 941-X may currently only be submitted by paper, increasing processing times. (It

tax return 52

tax return payroll tax payroll Tax 52

Ronika Khanna CPA,CA

JANUARY 27, 2023

Sign up to download our free Canada unincorporated business tax deadline calendar for 2023 or Quebec unincorporated small business tax deadline calendar 2023. Learn more Available at Amazon Notes on Tax Deadlines for 2023 The usual deadline for sales tax (GST/HST and QST) payments and income tax returns is April 30th.

business tax 52

business tax Tax income tax tax return 52

ThomsonReuters

MARCH 1, 2024

To the IRS, S corporations (S corps) are considered “ pass-through entities ”, which means any deductions, losses, income, credits, and profits pass through directly to shareholders, who report their share of the business’s performance on their own personal tax returns. For 2024, S corp taxes are due on March 15, 2024.

corporation tax 52

corporation tax Tax tax return income tax 52

Ronika Khanna CPA,CA

OCTOBER 13, 2023

As an employee, your employer takes on the responsibility to pay certain payroll deductions to the governmen t, which are deducted directly from the employees’ gross salary. The net salary, which is the amount on the employees’ paycheque, is the amount received after payroll and income taxes have been deducted.

tax return 52

tax return Tax payroll income tax 52

ThomsonReuters

JUNE 2, 2023

A little more than a week before the IRS issued a revised version of Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund), and its instructions , the IRS reported that there are nearly 1 million unprocessed amended employment tax returns. The return must still be filed on paper.

payroll tax 52

payroll tax payroll tax return Tax 52

Nancy McClelland, LLC

APRIL 5, 2024

As a CPA whose company works with loads of small businesses that need to process payroll, I’ve used quite a few payroll systems through the years… and Gusto has become our favorite. Honestly, I randomly stumbled on it when I went into my own Gusto account to run weekly payroll.) Review it carefully.

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Shay CPA

DECEMBER 27, 2023

You might need to pay the current calendar year’s franchise tax before you can officially close up shop, for example. Acting fast might save you from being subject to 2024 taxes. You and your accountant should partner together to prepare your last tax filings. But the list extends far beyond that.

general ledger 52

general ledger Delaware Tax payroll 52

CPA Practice

FEBRUARY 1, 2023

You can either schedule it for December 31, 2024, or delay taking the distribution until no later than April 1, 2025. The penalty will be further reduced to 10% for IRA owners if the account owner withdraws the RMD amount previously not taken and submits a corrected tax return in a timely manner. While SECURE 2.0

Illinois 96

Illinois Start-ups Tax CPA 96

SkagitCountyTaxServices

MARCH 17, 2023

While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. But also, there’s little more than a month before personal tax returns are due. Hiring family members can save on taxes if you follow IRS income tax thresholds.

tax planning 52

tax planning business tax Tax tax return 52

Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Income tax is explained at [link]. Limited Company Taxes A limited company pays corporation tax on its profits. Dividend Tax applies to any amounts taken out of the company.

Start-ups 75

Start-ups Account accountant accounted 75

Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. Below we highlight any payroll tax and withholding updates or consistencies for 2024 that employers and employees should be aware of. on wages up to $168,600.

payroll tax 52

payroll tax payroll Tax Missouri 52

CPA Practice

JULY 12, 2023

HSAs inherited by non-spouses become taxable to the beneficiary as ordinary income. If the estate is the beneficiary, the value of the HSA is included in the final tax return and the taxable amount may be reduced by any qualified medical expenses incurred by the decedent and paid within a year after the date of death.

Tax 98

Tax tax return payroll tax Illinois 98

Cherry Bekaert

JANUARY 5, 2023

2022 brought significant developments to the tax treatment of Research & Development (R&D) costs. There was significant activity regarding the timing of deductions, reporting requirements for amended tax returns and proposals for reporting in future tax years. Research Tax Credits Claimed on Amended Returns.

Tax 40

Tax payroll tax tax return Manufacturing 40

inDinero Tax Tips

JANUARY 16, 2024

Due dates for business taxes can change from year to year based on a variety of factors, including weekends and federal holidays. So, if you’re wondering when are taxes due in 2024, you’re asking the right question at the right time. Missing these tax payment deadlines might result in penalties or interest charges.

Tax 52

Tax tax return payroll tax Delaware 52

ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. How is the EITC changing?

Tax 52

Tax income tax tax planning payroll 52

Withum

MARCH 20, 2024

For the latest news and updates on Montana state and local tax March 20, 2024 Montana Releases Pass-Through Entity Tax Common Issues to Avoid Authored by: Jessie Racioppi and Penny Sweeting , CPA The Montana Department of Revenue released “Common Errors to Avoid when Filing Form PTE – Tax News You Can Use.”

Montana 52

Montana Tax income tax tax return 52

ThomsonReuters

JANUARY 9, 2024

In other words, C corps are not taxed as individuals, they are taxed as a business structure that is legally separate from the people who own and operate the business. If a C corp cannot meet its initial tax deadline, it can file for a six-month extension using IRS Form 7004. How do C corps file taxes?

corporation tax 52

corporation tax Tax income tax Non-Profits 52