article thumbnail

Monday Morning Accounting News Brief: Every Day Is Fools’ Day For Some Accounting Employers; McKinsey Now Paying People to Leave | 4.1.24

Going Concern

Business Insider wrote about the accountant shortage, specifically Tupperware griping in regulatory filings that it can’t find enough people (again): The accountant shortage is so bad that companies are delaying filing key mandatory reports. A lot of this work that we’re doing is, I’d call it forensic accounting,” Cipriano said.

Account 105
article thumbnail

How SUI and State Income Taxes Affect Small Businesses

CPA Practice

In Alaska, New Jersey, and Pennsylvania, both employers and employees contribute to the fund, with the employee’s portion of SUI deducted from their paychecks. They need EINs to set up an account with the unemployment office to file and remit SUI taxes. In all but three states, only employers contribute to SUI. What is SIT Tax?

article thumbnail

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Tax rate Single individual income Married (filing jointly) income 10% $10,275 or less $20,550 or less 22% $41,775 $83,550 24% $89,075 $178,150 32% $170,050 $340,100 35% $215,950 $431,900 Updates to Small Business Tax Rates The IRS updates small business tax rates yearly to account for inflation or other economic changes. in New Jersey.