ThomsonReuters

SEPTEMBER 12, 2023

How to manage state and local tax Do you have clients who live in one state but work in another state? If so, they may be able to lower income taxes through a state-by-state reciprocity agreement, should the agreement exist. Let’s say a client lives in Maryland but works in Pennsylvania. Sign up for your free trial today.

Indiana 98

Indiana Montana Pennsylvania income tax 98

Going Concern

FEBRUARY 26, 2024

National Review wins for best headline : The PCAOB has released EY Canada’s latest inspection report, they got a D : Big Four accounting firm Ernst and Young had multiple deficiencies in half the audits inspected by the Public Company Accounting Oversight Board in the United States in 2022. deficiencies).

audit 56

audit Mississippi auditor tax return 56

TaxConnex

MARCH 2, 2021

House has passed a measure that would increase the general sales tax rate for clothing and many other items from 7% to 9.5%. The proposal, which now goes to the state’s Senate, would also phase out Mississippi’s personal income tax over 10 years and cut its grocery tax in half over five years. billion in January 2021 , 0.3%

Sales 230

Sales Tax Missouri Wisconsin 230

TaxConnex

DECEMBER 29, 2022

Sales tax also soon emerged as a political arguing point. One Pennsylvania legislator called for elimination of that state’s sales and use tax (echoing a colleague’s earlier call for a two-month break from the state’s sales tax in the coming summer, citing inflation). Some sales tax bills passed; others didn’t.

Sales 130

Sales Tax Maryland Louisiana 130

Anders CPA

MAY 15, 2023

Below we dive into the state and unemployment tax responsibilities employers need to know. If you have employees working in states that have state withholding tax, then the business will need to be registered with that state’s Department of Revenue “To Do Business.”

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payroll tax payroll South Dakota Rhode Island 52

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Accountant sentenced to prison for role in doctor-bribery scheme [ Press-Telegram ]. The charges included bank fraud, embezzlement, and tax evasion.

North Carolina 52

North Carolina Account accountant accounted 52

TaxConnex

JULY 12, 2022

The new law also provides that the marketplace facilitator’s tax collection obligation applies to any other taxes administered by the Oklahoma Tax Commission, which are levied by a local jurisdiction on the retail sale of a product. for how this will change sales tax filing and other taxpayer services?when 1 next year.

Sales 178

Sales Tax Oklahoma Illinois 178

CPA Practice

AUGUST 15, 2023

Jared is a popular speaker and advisor due to his expansive knowledge of current tax policies, cybersecurity, and industry trends. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer. Ann is a graduate of the Wharton School at the University of Pennsylvania.

Tax 52

Tax North Carolina Indiana CPA 52

CPA Practice

SEPTEMBER 6, 2023

That kind of money could turn any tax official’s head. But is the sale of an NFT subject to tax? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult. Should it be?

Washington 121

Washington Pennsylvania Technology Tax 121

inDinero Accounting

DECEMBER 5, 2023

The IRS defines a qualified trade or business as any field other than the following: Health Law Engineering Architecture Accounting Actuarial science Performing arts Consulting Athletics Financial services Brokerage services Farming Hotels Motels Restaurants Finally, businesses reliant on the reputation of an owner or employee, don’t qualify.

tax return 52

tax return Mississippi Wisconsin Tax 52

ThomsonReuters

FEBRUARY 9, 2022

The DOL also has a list of potential FUTA credit reduction states for tax year 2022, which includes California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, and the U.S. This comes to an additional $21 in FUTA tax per employee to the $7,000 annual taxable wage base.

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payroll California Connecticut Tax 98

ThomsonReuters

JUNE 22, 2021

The following local income tax rates will increase on July 1: (1) Cridersville increases to 1.5% The first quarterly withholding report due for the Greater Portland Supportive Housing Services Tax on July 31, 2021. Pennsylvania. The Unclaimed property holder report for unclaimed wages is due on August 1, 2021.

payroll 72

payroll Virginia Utah West Virginia 72

MazumaBusinessAccounting

JULY 27, 2022

The federal government sets the self-employment tax at 15.3%. Federal Income Tax. You will need to pay federal income tax in addition to the self-employment tax. The percentage you must pay in federal income tax depends on which income bracket you fall into. State Income Tax.

Tax 99

Tax income tax Pennsylvania bookkeeping 99

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. Income tax rates to change in 2023. and reduce the number of tax brackets from nine to four in 2023.

payroll 52

payroll income tax California North Dakota 52

ThomsonReuters

JUNE 10, 2021

Among the book’s provisions include: (1) increasing the employer provided childcare tax credit for businesses, (2) creating a new general business credit equal to 10% of the eligible expenses paid or incurred in connection with onshoring a U.S. For the latest in tax, accounting, and payroll news, visit tax.tr.com/blog.

payroll 98

payroll Vermont Tax Connecticut 98

PYMNTS

OCTOBER 28, 2019

The Supreme Court decision also appears to enable states to require businesses to file income taxes for revenue shares generated there. The Massachusetts legislature has proposed a regulation that would obligate remote sellers above a certain sales volume to file, and Pennsylvania has already issued a similar demand.

South Dakota 42

South Dakota Retail Arizona income tax 42

ThomsonReuters

OCTOBER 20, 2020

The results of the Checkpoint Catalyst Survey of States’ Approach to Temporary Telecommuting survey show that the business tax consequences of COVID-19 telecommuting for companies large and small are unclear in most states. At issue in these circumstances is the concept of a tax nexus , or connection, with the state.

South Dakota 40

South Dakota Sales Tax Rhode Island 40