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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SIT Tax?

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Tax-Free States? Pay No Income Tax in These 9 Tax-Friendly States!

LyfeAccounting

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? Top 10 States With The Highest Income.

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

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Oct. 16, 2023, is Deadline for Millions Who Filed Tax Extensions; But Many Get More Time Due to Disasters

CPA Practice

These areas include: Taxpayers affected by flooding in Illinois and Alaska. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software. It’s available to any person or family with an adjusted gross income (AGI) of $73,000 or less in 2022. IRS Direct Pay.

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Oct. 16, 2023, is Deadline for Taxpayers with an Extension

CPA Practice

These areas include: Taxpayers affected by flooding in Illinois and Alaska. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software. It’s available to any person or family with an adjusted gross income (AGI) of $73,000 or less in 2022. IRS Direct Pay.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

Below we dive into the state and unemployment tax responsibilities employers need to know. Each state has its own requirements for withholding taxes for out-of-state employees. Once registered, employers will receive an employment withholding account number so state taxes can be withheld and remitted properly.