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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. Social Security Tax : Employers and employees each contribute 6.2%

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The Collaborative Accountant

CPA Practice

For too long, accountants and their clients have been operating out of alignment. Collaborative Accounting is the path, and this eBook will start you on your journey. Do you want more time for the deeper advisory work that matters to you and to your clients but aren’t sure how to get there?

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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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States ease nexus thresholds

TaxConnex

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds.

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As Wayfair turns 6, what’s happening with economic nexus? (part 1)

TaxConnex

(Nexus is an economic presence that triggers the obligation to collect and remit tax or at least communicate with appropriate states.) Some states are also now easing nexus thresholds even as they try to levy sales taxes on new products and ramp up “sales taxes” in other forms. Why isn’t there a national sales tax, anyway?

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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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The Hidden Gem to Firm Growth and Smoother Operations

CPA Practice

IRIS works with thousands of CPA firms in North America, including 52 of the top 100 CPA firms in the US, and provides innovative solutions to serve accountancy customers in the North American market, making IRIS the go-to partner for CPAs. Sign in or subscribe to get access to this free resource, and all of our whitepapers.