CPA Practice

APRIL 22, 2024

Tax Blotter 042224 Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes. Although he wasn’t involved with payroll, he had check-signing authority over one bank account used solely to buy parts for the business.

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Xero

MARCH 13, 2024

The end of the financial year is around the corner, so it’s time to review the latest changes and start getting ready to complete your payroll year end. Latest changes Payroll is always evolving, but there were a few little surprises this year. Our payroll specialists are also here to support you at any time. Aged 18 to 20 £8.60

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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Shay CPA

MARCH 6, 2024

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. More information on that here.

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Xero

MARCH 10, 2024

As the summer days become a memory, it signals the onset of a crucial period for payroll professionals in New Zealand. With the approaching new tax year on 1 April 2024, regulatory changes are set to impact payroll calculations across the country. Check for any transactions incorrectly reconciled against your expense accounts.

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CPA Practice

JANUARY 9, 2024

FreshBooks , a maker of cloud-based accounting software for small businesses and accountants, is expanding its suite of services with the launch of FreshBooks Payroll. This is an integrated payroll solution for U.S. based customers, leveraging Gusto’s top-of-the-line payroll technology.

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SMBAccountant

NOVEMBER 17, 2021

Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. This typically happens in at least 2 withdrawals; net pay and payroll taxes. 190 would be withdrawn for taxes.

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MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government.

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Accounting Insight

MAY 14, 2024

IRIS Software Group , a leading global software provider of accounting, edtech, payroll and HR solutions, today released the results of its anonymous poll of UK-based accountants, conducted during February and March 2024. How much do accountants charge across the UK? The remainder charge more than £40 per hour.

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MyIRSRelief

OCTOBER 2, 2023

One of the most important things to consider is accounting and bookkeeping. If you’re new to business, you may be wondering why accounting and bookkeeping are so important. You don’t have a lot of money to spend on accounting and tax services. To comply with tax laws. To make better business decisions.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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MyIRSRelief

SEPTEMBER 20, 2021

IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Levy – we release wage and bank levies. – Tax Audits. – Tax Appeal.

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ThomsonReuters

JUNE 29, 2022

Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. This CPP quiz question will be on employment taxes. The IRS and U.S.

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Patriot Software

FEBRUARY 22, 2024

If you want to deposit your employees’ paychecks directly into their bank accounts, you need direct deposit. Most employers handle direct deposit through their payroll software. Payroll services calculate employees’ wages, taxes and deductions, and take-home pay. […] Read More

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MyIRSRelief

MARCH 15, 2023

As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action.

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ThomsonReuters

APRIL 18, 2023

For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? A DOL determination would have “ no direct impact on tax withholding,” Lebowitz noted.

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CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

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Going Concern

MAY 5, 2023

Sky News received some insider info that KPMG UK had a bit of a tax problem last week, relating to the firm’s legal structure and employee contracts. This is on top of a payroll issue last week that meant staff checks arrived late. The issue has been resolved on ADP’s end, said KPMG.

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Xero

MARCH 16, 2023

That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. We have also introduced a new checklist within Xero Payroll to streamline your tasks and make it easy as we approach year end.

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MyIRSRelief

OCTOBER 1, 2019

If you are facing payroll tax problems, then you have a serious issue on your hands. This is especially true for small business owners and entrepreneurs who may not have the knowledge, experience, or skill set to understand how tax issues with their 940/941payroll and employment got out of hand.

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Menzies

APRIL 23, 2024

Menzies LLP - A leading chartered accountancy firm. The Payrolling Benefits in Kind scheme was set up by the UK Government in 2016 and this refers to the practice of processing employees benefits through the payroll rather than on a P11d. Once registered you can apply online before the start of the tax year.

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RogerRossmeisl

NOVEMBER 16, 2021

With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs.

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Shay CPA

MAY 3, 2023

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. More information on that here.

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CPA Practice

MARCH 10, 2023

Accountants have more tools at their fingertips to grow their advisory services than ever before, and the pandemic underlined the importance of using those tools to help their clients. Today’s accountants are helping their clients navigate a rapidly changing labor and regulatory landscape. Payroll is one of those opportunities.

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MyIRSRelief

JANUARY 2, 2023

Types of IRS tax problems and how to resolve them. There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.),

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MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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SkagitCountyTaxServices

DECEMBER 7, 2023

Now that we’re into December, time is short to take care of your year-end accounting. This is something we specialize in so be sure to get on our calendar to set up your EOY tax planning appointment: app.acuityscheduling.com/schedule.php?owner=19530343 Another of those areas is payroll reconciliation.

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CPA Practice

SEPTEMBER 8, 2023

The tax law provides benefits to employees who choose to participate in flexible spending accounts (FSAs) for qualified expenses. However, if there’s a balance in the account at the end of the year, the remaining funds are generally forfeited. Similarly, the employer saves on its share of payroll taxes.

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Basis 365

DECEMBER 28, 2022

Small business owners can use payroll services to manage their tax filings and pay their payroll. However, outsourcing to a third-party payroll service provider is better than trying to handle payroll as you grow. These ten questions will help you choose the right payroll service provider.

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inDinero Tax Tips

MAY 21, 2021

Did you know your business could qualify for a ‘sweet’ tax credit. If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. The R&D tax credit wasn’t always available to small businesses. What is the R&D Tax Credit?

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CPA Practice

SEPTEMBER 5, 2023

IRIS Software Group (IRIS), a global provider of professional accounting and payroll solutions, has launched its new IRIS Outsourcing for accounting firms in the Americas market. We have a fantastic relationship with our account manager, who assists us with our aim to work more efficiently.”

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ThomsonReuters

MARCH 5, 2024

tax system, including provisions affecting both individuals and businesses. Among these were several payroll-related provisions that are set to expire at the end of 2025, presenting challenges and opportunities for employers and employees alike. Director of Federal Tax Quality Control at Aprio, began.

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CPA Practice

OCTOBER 17, 2023

Here’s what you need to know: If the individual works for an employer, the Social Security tax is withheld from the paycheck and gets reported by their employer through payroll taxes. It is important to note that if the individual is receiving a W-2, the individual and their employer each share the tax burden of 6.2%.

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

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Going Concern

SEPTEMBER 25, 2023

It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. Twice-Convicted Accountant Is Charged With Embezzling More Than $1.1 Palos Hills Accountant Indicted In $7.8M This stock photo is incredible.

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ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Let’s take a look at some commonly asked questions on retirement income taxes and how your firm can best advise clients as they approach their retirement years.

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