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How the 50 States Rank By Lifetime Taxes

CPA Practice

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

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The accountant’s guide to state taxes on retirement income

ThomsonReuters

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

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State CPA Society News & Updates – June 2023

CPA Practice

At Mazars, she specializes in accounting and auditing for transportation and logistics. Their energy and drive for the accounting profession is something we support and want to highlight at the NJCPA,” said Aiysha (AJ) Johnson, MA, IOM, CEO and executive director at the NJCPA. We could not be prouder of these two emerging leaders.

CPA 113
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Turns Out a Place Called “Accountant ‘R’ Us” Was Not a Legitimate Business at Which to Get Your Taxes Done

Going Concern

A man in Connecticut is accused of taking $373,201 in PPP loans to fund a phony accounting firm : Eric James O’Neil, 57, was arrested Aug. 9 at his Bethel home on an arrest warrant and indictment issued by federal court in Boise, Idaho, where the bank that processed the loan is based. O’Neil formed Accountant “R” Us Inc.

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Avalara Gives Update on Online Marketplace and Tax Changes in 2024

CPA Practice

By 2027, marketplaces may account for 59% of ecommerce globally. But running a marketplace also brings unique tax and compliance challenges. Our 2024 Avalara Tax Changes report explores new and changing requirements for marketplace facilitators and sellers across a variety of industries. Who wouldn’t want a piece of that pie?

Tax 59
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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

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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The Benefits of Delayed Business Filings

CPA Practice

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.