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How the 50 States Rank By Lifetime Taxes

CPA Practice

Taxpayers in Washington will pay the most on everyday expenses ($83,014), followed by those in California ($78,191), accounting for food, clothing, personal care, and entertainment. Vermont $1,442,094 $651,434 45.2% Washington $1,729,531 $631,249 36.5% Vermont $1,442,094 $651,434 45.2% Maine $1,420,847 $581,750 40.9%

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The accountant’s guide to state taxes on retirement income

ThomsonReuters

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

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Accountants Aren’t the Most Concerned About AI’s Impact—Except in One State

CPA Practice

Coming on the heels of a Moss Adams study that revealed 69% of accountants believe artificial intelligence has a positive impact on the accounting profession, a new report from AI customer support company DevRev found that accountants don’t fear AI advancements the most among professionals in the U.S.

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Recent Data Study Reveals Most Popular Side Hustle in Every U.S. State

CPA Practice

States with the highest level of interest in side hustle jobs in 2023 are Washington, Oregon, Idaho, and Utah – which could mean that the western U.S. States with the least interest in finding a side hustle are Florida, Vermont, and Maine – all of which are on the East Coast. is feeling the economic impact the most.

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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

The Secure Maryland Wage Act , signed into law by Maryland Governor Hogan on May 30, 2021 and effective October 1, 2021, establishes a minimum wage for “certain employees working at a heightened security interest location,” defined as Baltimore-Washington International Thurgood Marshall Airport or Pennsylvania Station in Baltimore.

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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. Loved by entrepreneurs, accountants, and lawyers, CorpNet offers transparent pricing, a simple ordering process, and quickly scalable software and API solutions.

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Last Labor Report Before Election Shows Drop In US Jobless Claims

PYMNTS

Unemployment numbers don't take into account the people who have simply stopped looking for a job. During the week ending Oct. Unemployment has been high since the pandemic began. Since the week ending March 20, more than 55 million individuals have filed for new unemployment insurance claims.