TaxConnex

DECEMBER 7, 2021

Rolling the dice with sales tax compliance can backfire in a big way. Keep reading to see some recent sales tax missteps that had big costs. Tax air-or. million penalty for failing to pay sales tax on air-inflation services, as well as for tax avoidance schemes by underreporting sales and paying workers off the books.

Alabama 186

Alabama tax return New York Tax 186

CPA Practice

FEBRUARY 28, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns.

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Tax Alabama tax return Georgia 128

CPA Practice

FEBRUARY 27, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns.

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Tax Alabama tax return Georgia 95

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

Tax 52

Tax income tax Manufacturing corporation tax 52

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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payroll tax payroll South Dakota Rhode Island 52

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

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Delaware Nevada Tax Sales 52

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. if the employer qualifies for the full FUTA tax credit) on a certain amount of employee wages each year.

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payroll Tax income tax payroll tax 59

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

tax return 52

tax return Mississippi Wisconsin Tax 52

Dent Moses

FEBRUARY 24, 2022

Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress.

Alabama 52

Alabama income tax Tax tax return 52

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax.

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payroll Virginia Utah West Virginia 72

Dent Moses

AUGUST 31, 2023

The county utilizes a mass appraisal process set forth by the Alabama Department of Revenue. How Property Taxes Calculated Assessing the property value: The first step is to determine the assessed value of the property. Tax rate: Once the assessed value is determined, the property tax rate is applied.

Alabama 40

Alabama Tax income tax tax return 40

inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware does tax companies. In 2011, Delaware garnered $860 million in taxes and fees from out-of-state business entities incorporated under its laws. With so few taxes, how does Delaware rake it in?

Delaware 64

Delaware Wyoming Nevada Oregon 64

CPA Practice

JULY 27, 2023

Five alumni of Auburn University who teamed together to create the software development company SmartWiz have been awarded $150,000 in developmental funds by Google to advance and distribute their tax accounting software.

Tax 94

Tax tax preparation Alabama Technology 94

CPA Practice

APRIL 24, 2023

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities. The LLC owners (called members) also report business profits and losses on their individual income taxes.

Legal 98

Legal income tax tax return Mississippi 98

ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Generally, if a tax filing or payment deadline falls on a weekend or legal holiday, the due date is the next business day.

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payroll income tax California North Dakota 52

ThomsonReuters

APRIL 24, 2024

Beginning In 2024, Alabama uses a unique approach to address its labor shortage. Checkpoint Payroll Update caught up with John Wertz, tax attorney and partner at Holland & Knight’s New York office, to discuss this first-of-its-kind law. Some states have removed some restrictions in child labor provisions to fill gaps.

West Virginia 52

West Virginia Alabama Legal Tax 52