Account, Arizona, payroll and Tax

Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

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. Medicare tax on wages exceeding certain thresholds.)

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Trendspotting: Top Ten Payroll Issues of State Legislatures

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. Minimum wage increases. 13 states are looking to increase their current minimum wage rates.

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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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What is the Consumer Price Index, and what does it have to do with payroll?

ThomsonReuters

FEBRUARY 15, 2022

The Consumer Price Index is involved in payroll topics like minimum wage, benefits, and the federal tax brackets. For the purposes of payroll, the CPI is important for topics such as minimum wage and benefits. Arizona’s 2022 minimum wage rate increased to $12.80 Federal tax brackets and the CPI. population.

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Last Week in Payroll: Backup Withholding

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee. Federal News.

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

JULY 3, 2023

Contact us for professional tax help today! During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Understanding ERC IRS Audits 1.1 What is an ERC IRS Audit? ERC IRS Audit Process 2.1 What Happens During an ERC Audit?

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Monday Morning Accounting News Brief: Unintended Audit Consequences; The IRS Needs Experienced Accountants; PwC AI | 9.18.23

Going Concern

SEPTEMBER 18, 2023

This next wave of hiring will help the IRS add key talent like tax accountants to help reverse a decade-long decline of audits for the wealthy as well as complex partnerships and corporations. These new employees will be focused on higher-income and complex tax areas like partnerships, not average taxpayers making less than $400,000.”

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Last Week in Payroll: Athletes and Equal Pay

ThomsonReuters

AUGUST 2, 2021

Now let’s go over some of the more important payroll stories from the past week. . The IRS has updated its lengthy list of FAQs on paid sick and family leave tax credits under the American Rescue Plan Act (ARPA) relating to COVID-19 vaccines. Adjustment of calculation and payment of unemployment taxes. Federal News .

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The Benefits of Delayed Business Filings

CPA Practice

DECEMBER 19, 2023

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. It’s common for companies to choose an effective date of January 1 to simplify selecting a calendar year for taxes and relieve businesses of paying state franchise taxes for the prior year.

Rhode Island

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The Professional Association of Small Business Accountants Holds 16th Annual Awards Ceremony and Honors Six Members

Steve Feinberg

JUNE 22, 2022

We’ve always been proud of the work we do at Appletree Business Services , from bookkeeping to payroll and tax-keeping packages, but it’s also satisfying to hear that your work has been recognized by some of the luminaries in your field.

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The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

DECEMBER 14, 2020

Business Tax Professionals. The tax rules and regulations U.S. We’re left to approach tax-filing season with a great deal of uncertainty,” said Melissa Oaks, a Thomson Reuters tax specialist who presented the webinar. 20 with an ambitious tax agenda and a singular priority. Recent Changes.

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Hard Work & Dedication Pays Off

RitaKeller

DECEMBER 8, 2020

I was so pleased yesterday to see the press release announcing Eric Majchrzak has been named as CEO-elect of BeachFleischman, Arizona’s largest locally-owned CPA firm and a Top 20 largest CPA Firm in the United States. If you have the passion for what you do and the drive to always strive to improve yourself, the sky’s the limit.

Arizona

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2022 Minimum Wage and Overtime Salary Threshold Increases

ThomsonReuters

FEBRUARY 7, 2022

It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . For further information on creditor garnishment, visit the Quick Reference Chart on Checkpoint Edge at Payroll Guide ¶17,080 (Highlights of state rules for creditor garnishment). . per hour, $9.80

Rhode Island

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Federal Paid FMLA May Be Out While States Consider Possibilities

ThomsonReuters

FEBRUARY 7, 2022

The program would be funded by 2% payroll tax, 1% paid by the employer, 1% paid by the employee ( L. Try Checkpoint Edge FREE for 7 days and get instant access to Quick Reference Charts on Paid Family and Medical Leave programs ( Payroll Guide ¶19,022 ) and State Family and Medical Leave laws ( Payroll Guide ¶20,030).

Missouri

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Deep Dive: Wayfair’s Complex, Ongoing And Unexpected Effects On Retailers

PYMNTS

OCTOBER 28, 2019

Wayfair’s case enabled cities and states to pass economic nexus laws that require out-of-state sellers to collect and remit taxes on local residents’ sales, and it permitted these jurisdictions to implement marketplace facilitator laws necessitating that eCommerce platforms collect and remit taxes on third-party merchants’ sales. .

South Dakota

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Biden’s American Families Plan Includes Paid Family and Medical Leave

ThomsonReuters

MAY 3, 2021

Funding for the American Families Plan, including paid leave, would be offset by tax increases on Americans making over $400,000 per year and the elimination of lower tax rates on capital gains and dividends. . The program also calls for three days of paid bereavement leave per year beginning with the first year of the program. .

Rhode Island

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Employer Vaccine Mandates, Worker Refusals, and Unemployment Benefits

ThomsonReuters

JANUARY 24, 2022

The question arises whether a worker who refuses an employer’s vaccine mandate is eligible to collect unemployment benefits, and if so, are employer unemployment accounts impacted by those claims. Losing a job because of a failure to become vaccinated will not immediately disqualify an individual from benefits in Arizona.

Rhode Island

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Accountant Advocate

Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

Trendspotting: Top Ten Payroll Issues of State Legislatures

Webinars

Trending Sources

Employer Payroll Tax Obligations When Employees Work Out-Of-State

Webinars

What is the Consumer Price Index, and what does it have to do with payroll?

Last Week in Payroll: Backup Withholding

ERC IRS Audit Representation: Your Comprehensive FAQ Guide

Monday Morning Accounting News Brief: Unintended Audit Consequences; The IRS Needs Experienced Accountants; PwC AI | 9.18.23

Last Week in Payroll: Athletes and Equal Pay

The Benefits of Delayed Business Filings

The Professional Association of Small Business Accountants Holds 16th Annual Awards Ceremony and Honors Six Members

The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

Hard Work & Dedication Pays Off

2022 Minimum Wage and Overtime Salary Threshold Increases

Federal Paid FMLA May Be Out While States Consider Possibilities

Deep Dive: Wayfair’s Complex, Ongoing And Unexpected Effects On Retailers

Biden’s American Families Plan Includes Paid Family and Medical Leave

Employer Vaccine Mandates, Worker Refusals, and Unemployment Benefits

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