ThomsonReuters

FEBRUARY 14, 2022

Note that the following states do not have a state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. . For federal withholding, see Payroll Guide ¶3820, for W-2 reporting, see Payroll Guide ¶4260 , for 1099-MISC reporting, see Payroll Guide ¶4268.

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ThomsonReuters

FEBRUARY 12, 2021

Hello payroll professionals and welcome to the first edition of Last Week in PAYROLL. The Democrats’ budget resolution had many amendments introduced to it in the Senate on February 5, 2021, including a topic that has been on the minds of many payroll professionals during the COVID-19 pandemic – teleworking.

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Anders CPA

MAY 15, 2023

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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Shay CPA

JUNE 7, 2023

And, of course, you can’t forget about how your layoffs impact your books and payroll. And if you’re in this boat, you should know what it means for your books and your payroll. Meet with your accountant to decide if it’s right for you. Having a quality bookkeeping and accounting team around you can go a long way here.

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CPA Practice

FEBRUARY 12, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) A proposal to end federal tax on Social Security retirement benefits would provide relief for retirees as early as next year. The Social Security payroll tax wage base was $160,200 last year. payroll tax on nearly $100,000 more of their wages. from 2023 to 2024.

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ThomsonReuters

JUNE 10, 2021

Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. For the latest in tax, accounting, and payroll news, visit tax.tr.com/blog. To see how your firm can always get the most reliable answers to tax, accounting, and payroll questions, visit tax.thomsonreuters.com/en/checkpoint/contact.

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MyIRSRelief

MAY 15, 2024

Common 990 Compliance Issues: preparation & planning Misclassification of volunteers as employees, leading to potential payroll tax liabilities. Improper reporting of reimbursements under accountable plans, as outlined in IRC Section 62(c). Do we need to worry about payroll taxes? and foreign tax laws.

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CPA Practice

FEBRUARY 2, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. Quarterly payroll and excise tax returns normally due on Jan. Quarterly payroll and excise tax returns normally due on Oct. 31 and April 30, 2024.

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Basis 365

FEBRUARY 16, 2024

Forget "Near Me": Why the Best Outsourced Accountants Can Be Anywhere In the age of Zoom meetings and instant messaging, the phrase "outsourced accountants near me" has become irrelevant. The truth is, location is a limiting factor when choosing an accounting or bookkeeping partner. Gone are those days!

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Reckon

FEBRUARY 20, 2023

So why is it so useful to be running your trade business using proper cloud accounting software? Let’s look at the needs of your industry and how proper cloud accounting software can help… Why not fire off your invoice the moment the job’s done? On the other hand, affordable accounting software takes care of this with ease.

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Going Concern

MAY 28, 2024

The local news in Cincinnati covered this strategic move : One of Greater Cincinnati’s largest accounting firms is being acquired by an Indianapolis company. The Institute of Chartered Accountants in England and Wales (ICAEW) has published a report called Evolution of Mid-Tier Accountancy Firms. Let’s find out.

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ThomsonReuters

JUNE 22, 2021

As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. State by State Payroll Tax Changes. Washington. Payroll Changes Coming in July appeared first on Tax & Accounting Blog Posts by Thomson Reuters. South Dakota.

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CPA Practice

APRIL 18, 2024

Employers are adopting different approaches to help employees set up emergency accounts, typically through payroll deduction into a dedicated account. Delta Air Lines employees who set up a Goal Booster account and complete a two- to three-hour financial education program will receive $750 to kick-start their savings.

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CPA Practice

JUNE 1, 2023

None of this common knowledge applies to actually getting your money out of your retirement accounts. In the next few paragraphs, I’m going to outline a standard withdrawal order for which of your accounts to withdraw from and when. These include individual, joint and revocable trust accounts. Don’t get into credit card debt.”

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CPA Practice

MAY 11, 2023

In a recent study, Tipalti found which states were the best to pursue a career in finance or accounting by analyzing the number of jobs available, average salaries, and university rankings. Here’s which states ranked best for a career in finance or accounting. They also determined the best-paying jobs for finance graduates.

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ThomsonReuters

JULY 29, 2021

At the state level, Washington State recently announced emergency rules that provide farm and other workers who work outdoors more protection from the heat. Just prior to Washington State, Oregon also approved more protective emergency heat rules for workers. If you are an employee who works outside, please take care of yourself.

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Going Concern

OCTOBER 12, 2022

Next up in our preview of accounting salaries for 2023 is the latest Finance & Accounting Salary Guide from staffing agency Randstad. Randstad, Robert Half, and Accounting Principals are probably the “big 3” when it comes to publishing accounting and finance salary prognostications for the coming year. Are they tho?

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ThomsonReuters

MARCH 22, 2021

For payroll, in particular, there are a number of taxes. A number of those pages will directly affect payroll. It is a resource that offers a sense of security even if the company has its own full payroll department or outsources payroll duties to a third-party provider. Is there interest on the late taxes?

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Shay CPA

DECEMBER 7, 2022

Close your accounts. You’ve probably already thought about closing your bank accounts, but that’s not the only area where you need to get things sorted. Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts.

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ThomsonReuters

APRIL 26, 2022

that is tasked with accounting all workers in the fossil fuel energy sector as well as the anticipated closure dates of fossil fuel plants, nuclear power plants, and coal mines, and the impacts of closures including layoff numbers, early retirements, and salary changes. Washington Clean Energy Workforce Transition Workgroup. ?In

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CPA Practice

FEBRUARY 9, 2024

We only know one other vendor that sells accounting software on a regular basis and wants to protect the data as much that means so, but we do have other podcasts on competitors for Accu Matica, such as NetSuite and sage intact in Zoho and we want you to listen to those if you have clients that need to select accounting software.

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CPA Practice

FEBRUARY 7, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted Maine tax relief to areas of the state impacted by severe storms late last year. Quarterly payroll and excise tax returns normally due on Jan. Contributions for these accounts were originally due on Tax Day, April 15, 2024. 16 and April 15, 2024.

Maine 52

Maine Rhode Island Tax tax return 52

CPA Practice

OCTOBER 2, 2023

hiring and employment trends found that 95% of hiring managers in finance and accounting face challenges in locating skilled candidates available for hire. This finding is not surprising in a profession where unemployment rates for many in-demand roles, including accountants and auditors, typically trend well below the national average.

accounting and finance 128

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ThomsonReuters

MARCH 8, 2021

Department of Labor in Washington D.C. Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. the Frances Perkins Building.

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CPA Practice

DECEMBER 27, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Following severe tornadoes and storms that began on Dec. Quarterly payroll and excise tax returns normally due on Jan. Eligible taxpayers can contribute to 2023 accounts as long as they don’t exceed 2023 contribution limits. 9, 2023, and June 17, 2024.

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Tennessee Tax income tax tax return 69

CPA Practice

FEBRUARY 5, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. Quarterly payroll and excise tax returns normally due on Jan. Quarterly payroll and excise tax returns normally due on Oct. 31 and April 30, 2024.

Rhode Island 52

Rhode Island Tax income tax tax return 52

CPA Practice

MAY 17, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, look at MakersHub.ai , an automated AP system serving construction, construction services, industrial contractors, automation, and manufacturers, as well as bookkeepers and accounting professionals who serve these clients. Randy Johnston 00:10 Today, welcome to the accounting Technology Lab.

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MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. They can help implement internal controls, review payroll processes, and provide guidance to minimize the risk of errors or discrepancies in future ERC claims.

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CPA Practice

JULY 12, 2023

Some states require employers to pay additional payroll taxes. They need EINs to set up an account with the unemployment office to file and remit SUI taxes. Many companies also register with a payroll service, so they don’t have to worry about each state’s tax rates. Typically, employers must pay SUI quarterly. What is SIT Tax?

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ThomsonReuters

JUNE 21, 2021

COVID-19 related claims filed between March 14, 2021, through July 3, 2021, will not be charged against employer accounts. . Unemployment accounts not chargeable for unemployment benefits. . The Washington Employment Security Department (ESD) has announced ?that IRS disagrees with court regarding PEOs and wages. . Learn more.

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Bharmal&Associates

SEPTEMBER 4, 2020

We’re no ordinary accounting firm here at Bharmal & Associates, Inc.! Clutch’s office is a few steps away from the Washington Monument in the District of Columbia. In a recent review, the CFO and owner of A1 Healthcare, Binita Trivedi, praised the accounting work that we did for their management company.

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Going Concern

JULY 24, 2023

Steven Wasserman wants everyone to know that the accountant shortage isn’t limited solely to accounting firms. I believe that early-stage companies are being more negatively impacted by the accountant shortage than large companies. Early-stage companies often have small accounting staffs. And companies.

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PYMNTS

APRIL 17, 2018

And while reports in The Washington Post said the situation was thus “diffused,” the saga was a disruptive reminder that the regulatory landscape for marijuana companies — often small businesses (SMBs) — remains unclear, in flux and risky. Part of Wurk ’s service portfolio includes payroll. It creates a very unsafe environment.”.

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CPA Practice

OCTOBER 16, 2023

So, Californians in storm-impacted areas of the state have more time to contribute to their IRAs and health savings accounts (HSAs). Quarterly payroll and excise tax returns normally due on May 1, July 31, and Oct. When tax filing deadlines are extended, so are some other related IRS tax deadlines.

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ThomsonReuters

AUGUST 16, 2021

.” Washington. The Order prohibits such individuals from working for a Washington State agency after October 18, 2021 if the individual has not been fully vaccinated.

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CPA Practice

AUGUST 28, 2023

if you are at least 50 and earned $145,000 or more in the previous year, you can make catch-up contributions to your employer-sponsored 401(k) account. All contents copyright 2023 The Kiplinger Washington Editors Inc. But you would have to make those extra contributions on a Roth basis, using after-tax money.

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MyIRSRelief

MAY 1, 2024

Your tax professional will guide you through tasks like payroll tax deposits, estimated tax payments, and state and local tax regulations for your chosen business structure (C corporation, S corporation, or partnership), ensuring smooth sailing with tax authorities. Compliance Navigation: Tax compliance goes far beyond just filing.

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