CTP

DECEMBER 28, 2023

to foreign countries, you will want to familiarize yourself with this tax incentive: the interest charge domestic international sales corporation, more commonly known as the “IC-DISC.” This IRS election can allow some or all of the taxable income from your export sales to be taxed at a lower rate. Who Qualifies for an IC-DISC?

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xendoo

SEPTEMBER 2, 2021

Planning ahead is always a good business strategy, especially when it comes to taxes. Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . Income Tax for Individuals, Sole Proprietors, and Single-Owner LLCs.

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ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. if the employer qualifies for the full FUTA tax credit) on a certain amount of employee wages each year.

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ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. Form 941 is a tax report due on a quarterly basis.

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CPA Practice

NOVEMBER 9, 2023

The Department of Health and Human Services recently made an official recommendation to the Drug Enforcement Administration (DEA) to reschedule cannabis as a Schedule III drug, a move that may significantly impact the way that cannabusinesses manage their operations and taxes.

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CPA Practice

FEBRUARY 8, 2023

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. Likewise, clients in these markets will have access to Andersen’s full suite of tax services and extensive global platform.

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ThomsonReuters

MAY 6, 2022

Department of Labor regulations, record retention, federal payroll tax forms, payroll systems, and accounting. A statutory employee must also meet the following three conditions under Social Security and Medicare taxes: The service contract states or implies that substantially all the services are to be performed personally by them.

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CPA Practice

JANUARY 31, 2023

Professionals on the Move is a round-up of recent hiring and leadership announcements in and around the accounting profession. Her experience includes helping claim tax credits for clients of all sizes, from startups to Fortune 500. 1, 2023.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. Pay above this amount is not subject to social security tax.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. Pay above this amount is not subject to social security tax.

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CPA Practice

NOVEMBER 7, 2023

The Department of Health and Human Services recently made an official recommendation to the Drug Enforcement Administration (DEA) to reschedule cannabis as a Schedule III drug, a move that may significantly impact the way that cannabusinesses manage their operations and taxes.

Non-Profits 40

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ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

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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.

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ThomsonReuters

AUGUST 18, 2022

The IRS may need to revise certain employment tax reporting forms, and the forms used to claim the qualified small business payroll tax credit for increasing research activities, after President Biden signed the Inflation Reduction Act ( H.R. Social Security tax up to the annual taxable wage base ($147,000 in 2022).

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ThomsonReuters

DECEMBER 11, 2020

The IRS has added an optional computational bridge to its 2021 version of Publication 15-T (Federal Income Tax Withholding Method) that employers can use if they want to treat 2019 or earlier Forms W-4 as if they were 2020 or later Forms W-4 for the purposes of determining federal income tax withholding. Background.

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ThomsonReuters

DECEMBER 29, 2020

First, let’s start by identifying the sections of the CAA, 2021 that are most important to payroll professionals: (1) Division N – Additional Coronavirus Response and Relief (ACRR); (2) Division O – Extensions and Technical Corrections (ETC); and (3) Division EE – Taxpayer Certainty and Disaster Tax Relief (TCDTR) Act of 2020.

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ThomsonReuters

FEBRUARY 22, 2021

It also has to do with a wide variety of topics such as reporting and paying taxes and keeping in compliance with laws. It’s security for employees when they see wages hit their bank account on payday. Or working to dig out of debt by utilizing COVID-19 tax credits available to employers.

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