ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Evaluate the potential benefits of converting traditional retirement accounts to Roth IRAs. Consider pension and annuity payments. Delay Social Security. Pension income.

Tax 52

Tax Account accountant accounted 52

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. So how is payroll tax calculated? What is a payroll tax?

payroll tax 52

payroll tax payroll Tax income tax 52

ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Voters approved a ballot measure that will gradually eliminate the tip credit.

payroll 105

payroll Hawaii West Virginia Oklahoma 105

Going Concern

SEPTEMBER 1, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Check out this week’s top remote accounting candidates. Check out this week’s top remote accounting candidates. P.S. We’re off for Labor Day, hope you are too.

Account 111

Account accountant accounted audit 111

ThomsonReuters

MARCH 10, 2021

Allows for the credits for paid sick and family leave to be structured as a refundable payroll tax credit against Medicare tax only (1.45%), beginning after March 31, 2021. Allows the credit to be claimed against Medicare (1.45%, Hospital Insurance – HI) taxes only. Unemployment Provisions. The money will be available until expended.

payroll 105

payroll payroll tax Tax Non-Profits 105

Xero

APRIL 23, 2024

At the other end of the scale, the hospitality industry had fewer jobs than a year ago in the March quarter in Australia (-1.4% In more positive news, hospitality did a little better than the national average in the UK (+1.8% An accountant or bookkeeper can help you answer many of the important questions around hiring.

Hospitality 86

Hospitality bookkeeping Healthcare payroll 86

ThomsonReuters

JUNE 22, 2021

As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. State by State Payroll Tax Changes. Payroll Changes Coming in July appeared first on Tax & Accounting Blog Posts by Thomson Reuters. per hour on July 1. . South Dakota.

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KROST

DECEMBER 7, 2020

Escheating uncashed payroll checks to the State of California is one of the oldest, time-consuming procedures restaurateurs must conform to every year. Escheating checks is a legal process that transfers ownership of abandoned property (uncashed payroll checks) to the State of California.

payroll 52

payroll California Hospitality Legal 52

Menzies

APRIL 23, 2024

Menzies LLP - A leading chartered accountancy firm. You will now have longer to prepare for a transformative shift in the hospitality industry, as new legislation is set to revolutionise tip handling from this summer. Outsourcing the operation of the payroll scheme is an option, with Menzies offering this service.

Hospitality 52

Hospitality payroll chartered accountant Government 52

PYMNTS

AUGUST 13, 2019

Amid the growing list of cybersecurity concerns businesses must keep on top of, payroll is a growing target for attackers both inside and outside the enterprise. The latest cases of payroll-related cyber incidents reveal the vulnerabilities of the financial process of compensating employees.

payroll 60

payroll Ohio Virginia Florida 60

Menzies

APRIL 4, 2024

Menzies LLP - A leading chartered accountancy firm. Prepare for a transformative shift in the hospitality industry as new legislation is set to revolutionise tip handling from this summer. In this article, we explore the anticipated challenges for Hospitality and Leisure employers, with tips on how to prepare for the change.

Hospitality 52

Hospitality payroll chartered accountant Government 52

PYMNTS

MARCH 2, 2020

Retailers often need additional coverage during peak holiday shopping periods, hospitals may need substitutes for nurses on paternity leave and construction companies might need to increase staff for sizable projects. Employees’ Payroll Card Opinions. The number of activated payroll cards in the U.S. rose from 3.1

payroll 52

payroll Entertainment Hospitality Construction 52

ThomsonReuters

NOVEMBER 12, 2020

” The respect, and perquisites provided to veterans for their sacrifices to our country, have even touched the world of payroll, and on Veterans Day, we present a quick retrospective of some of the special tax provisions offered for veterans. Overview of tax breaks for those serving in the military. However, compensation paid to a U.S.

payroll 52

payroll Hospitality Tax income tax 52

Xero

MAY 1, 2023

The complexity of payroll obligations makes this even more of a burden. Integrate with Xero Payroll Planday on its own is a great tool for small businesses. But when combined with accounting and payroll software, it becomes a powerful solution. Planday is currently billed separately to Xero Payroll.

payroll 93

payroll Hospitality Healthcare Start-ups 93

CPA Practice

NOVEMBER 16, 2023

Sage, a maker of accounting, financial, HR and payroll technology for small and mid-sized businesses, has added new product updates in Sage Intacct for increased automation, deeper insights, and even stronger compliance.

Technology 98

Technology Healthcare Hospitality accounting and finance 98

Accounting Insight

MAY 22, 2023

Everyone, including payroll and accountancy professionals, love to take a break. Businesses are not legally obligated to give bank holidays off, and indeed many still operate on bank holidays, particularly in the hospitality, tourism, and retail sectors, when long weekends can be very busy.

payroll 59

payroll Legal Hospitality accounting system 59

MyIRSRelief

MAY 1, 2024

Your tax professional will guide you through tasks like payroll tax deposits, estimated tax payments, and state and local tax regulations for your chosen business structure (C corporation, S corporation, or partnership), ensuring smooth sailing with tax authorities. Compliance Navigation: Tax compliance goes far beyond just filing.

Tax 130

Tax tax planning audit Non-Profits 130

PYMNTS

JULY 17, 2018

In recent years, payroll cards have run into controversy as lawsuits and lawmakers scrutinize fees that often come with the tool. But, much like the payroll card debate, the legal questions around virtual cards also focus on fees. Legal action concerning fees linked to physical payroll cards have emerged in recent years.

Legal 40

Legal payroll Georgia Alabama 40

Accounting Insight

OCTOBER 30, 2023

These SMEs, which span sectors including hospitality, construction, care, manufacturing, and professional services, are the engine room of the UK economy. We’re on a trajectory to become the world’s largest centralised payroll and recruitment hub, reaching all markets with our highly automated infrastructure.

Technology 59

Technology payroll Hospitality Construction 59

CPA Practice

NOVEMBER 19, 2023

Sage, a maker of accounting, financial, HR and payroll technology for small and mid-sized businesses, has added new product updates in Sage Intacct for increased automation, deeper insights, and even stronger compliance.

Technology 52

Technology Healthcare Hospitality accounting and finance 52

CPA Practice

NOVEMBER 15, 2023

Sage, a maker of accounting, financial, HR and payroll technology for small and mid-sized businesses, has added new product updates in Sage Intacct for increased automation, deeper insights, and even stronger compliance.

Technology 52

Technology Healthcare Hospitality accounting and finance 52

ThomsonReuters

FEBRUARY 8, 2022

With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you. Respondents also indicated interest in receiving other services from their accounting firms. 2) Stand out from the competition.

Tax 105

Tax Entertainment payroll bookkeeping 105

Withum

NOVEMBER 8, 2023

The aftermath of a natural disaster can be devastating for all business owners, especially for those in the dealership , restaurant and hospitality industries, and can cause long-lasting interruptions in normal business operations. This means that daily sales reports, banking information, payroll information, etc. must be maintained.

payroll 52

payroll income tax tax return Hospitality 52

PYMNTS

AUGUST 20, 2020

Nonfarm payrolls increased by 4.4 For instance, July’s greatest boosts in employment came in the government, leisure and hospitality, and retail trade sectors. Of those three, leisure and hospitality accounted for 592,000 job gains, or about one-third of the month’s total. economy added 1.8 million in June and 2.7

Hospitality 74

Hospitality payroll Retail Maine 74

PYMNTS

JANUARY 11, 2021

times monthly payroll or $2 million — down from $9 million — for companies with less than 300 employees who can show they suffered at least a 25 percent revenue loss in any quarter of 2020 versus the same quarter in 2019. As a special incentive, hard-hit restaurants and other hospitality industry businesses can apply for up to 3.5

Wisconsin 60

Wisconsin payroll Hospitality Technology 60

Snyder

OCTOBER 30, 2022

So it’s no wonder that the business tax season is a hot time for small business owners, just as it is for accountants , especially when you need to deal with all this manual data entry and reconcile the accounts without any discrepancies. Tax preparation tip #1: Collect your accounting records. How to file employment tax?

tax preparation 98

tax preparation E-commerce Tax income tax 98

LyfeAccounting

JANUARY 20, 2021

Note that you will want to speak to your accountant or lawyer for specific advice regarding your specific situation. You had paid salaries and payroll taxes or paid independent contractors. times your average monthly payroll costs and healthcare costs or. $10 Here is the list of qualified non-payroll expenses: Rent.

Non-Profits 52

Non-Profits payroll Healthcare Hospitality 52

Basis 365

APRIL 12, 2022

Lower Payroll costs Bookkeepers are paid for their wages and benefits. Outsourced bookkeeping services can often be one of the most cost-effective and valuable options for bookkeeping, especially when you consider total payroll costs. Software licensing costs are added to payroll expenses for businesses.

bookkeeping 52

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PYMNTS

SEPTEMBER 4, 2020

Notable job gains last month came in an increase in government employment, specifically the temporary hiring of 238,000 workers for the 2020 Census, for a total of 344,000 jobs, accounting for one-fourth of the over-the-month gain in total nonfarm employment. Still, the number of nonfarm payroll jobs in August was less than the 1.8

Hospitality 57

Hospitality payroll Education Government 57

ThomsonReuters

FEBRUARY 7, 2022

Anaheim (applies to Anaheim hospitality employers with 25 or more employees that receive city subsidies). It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . per hour (26 or more employees) . per hour (fewer than 26 employees) . per hour . Belmont $16.20

Rhode Island 92

Rhode Island South Dakota Connecticut Agriculture 92

PYMNTS

FEBRUARY 13, 2020

With the exception of cash, most forms of payment can take a day or longer to settle in merchant accounts, including digital wallets, which typically run on existing card rails. percent of omnichannel microbusinesses said this could force them to take longer to make payroll. In fact, 61.3

payroll 60

payroll Hospitality Construction Sales 60

Shay CPA

FEBRUARY 22, 2023

Per the Protecting Americans from Tax Hikes (PATH) Act of 2015 , if your gross receipts are less than $5 million and you’ve been in business for fewer than five years, you can most likely claim a credit of up to $250,000 to apply toward the social security tax on your payroll. Let us crunch the numbers.

Tax 52

Tax payroll tax payroll CPA 52

Going Concern

MARCH 9, 2022

You can add Mazars to the list of global accounting firms with offices in both Ukraine and Russia that have denounced Russia’s invasion of Ukraine and pledged to support their colleagues in Ukraine—financially and via other means. They face dreadful uncertainties, and we continue to support them.

Hospitality 93

Hospitality Transportation accounting and finance payroll 93

KROST

JUNE 2, 2022

If management fees are purely collected for oversight of the business on behalf of ownership, then why would companies not charge for bookkeeping, accounting, and payroll processing services provided to the unit level? Restaurant , Hospitality. Please contact us here at KROST if you have questions. About the Author.

California 72

California Hospitality bookkeeping Sales 72

PYMNTS

JUNE 25, 2020

Few sectors of the economy have been harder hit during the pandemic than the hospitality industry. Allowing employees to control when they are paid is just one innovation transforming longstanding payroll processes. Consumers have been sheltering in place, and resorts and hotels have been subject to closure orders. consumers. “In

Hospitality 57

Hospitality payroll accounting and finance Government 57

Reckon

NOVEMBER 21, 2023

I’m going to be busy Those operating in the retail or hospitality space, among others, are likely going to be pretty busy over the next month or so. Jump into your CRM and social media accounts. Adjust your payroll to match any changes. Things to think about: Make sure all staff are aware of shifts or opening hours.

Hospitality 52

Hospitality payroll Sales Start-ups 52

KROST

JANUARY 14, 2021

Payroll Related Provisions. Tax , Real Estate , Technology , Hospitality. So Sum has over 18 years of experience in public accounting and has a wide range of experience in Taxation, as well as servicing high-net-worth clients. Mortgage Insurance Deduction extended through 2021. Learn more. Business Provisions. About the Author.

Real Estate 69

Real Estate CPA Hospitality Tax 69