article thumbnail

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

CPA Practice

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. Filing tax returns and remitting payments on time.

article thumbnail

State CPA Society News & Updates

CPA Practice

Tennessee: The Tennessee Society of CPAs (TSCPA) recently released its Updated Fiscal Year 2021 Tennessee Tax Credit Report which provides a detailed list of all credits claimed for tax periods July 1, 2020 to June 30, 2021. Shapiro’s first budget proposal.

CPA 124
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

State Sales and Use Tax Update

TaxConnex

New York City tax revenues in March and April fell $1.15 Sales tax accounted for the largest decline, falling $918 million, or 23 percent. In New York State , the sales tax payment the county of Onondaga received recently was $10 million higher than the same period last year. billion (3.5

Sales 224
article thumbnail

What's new in May for state sales and use taxes

TaxConnex

Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Kansas and Tennessee just became the latest states to green light such exemptions. million in taxes a year on the sale of groceries. Texas sales tax revenue totaled $3.83 Food for thought.

Sales 193
article thumbnail

Friday Footnotes: Tim Ryan Works Too Hard; Fake CPA Gets Violent Over QuickBooks Files; PwC PR | 10.20.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Early-career hires are set to account for the majority of job losses in some teams, as Deloitte retrenches following a slowdown in demand. Welsh said.

CPA 108
article thumbnail

Friday Footnotes: The Salary Problem Catches Up to Firms; Deloitte Changes Its Mind; KPMG Punished (Again) | 3.18.22

Going Concern

Accounting Faces Reckoning After Years of Sluggish Pay Growth [ Bloomberg Law ] Gasp! They are demanding perks and benefits that we haven’t seen before,” McDonald said of workers in accounting and finance. The reality of accounting now is very much centered around client interaction and understanding client needs. WELL I NEVER!

audit 52
article thumbnail

Last Week in Payroll: Repaying Deferred Social Security Taxes

ThomsonReuters

The Tennessee Department of Labor and Workforce Development (DLWD) has announced that the Employment Security Division will suspend provisions related to base period contributory employers. COVID-19 related claims filed between March 14, 2021, through July 3, 2021, will not be charged against employer accounts. . Learn more.

payroll 52