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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Your client will be assigned an employer tax account number for the state. By Nellie Akalp.

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States ease nexus thresholds

TaxConnex

Thresholds were established, filing forms and deadlines fixed and one by one states waited for the money to roll in (with Florida and Missouri among the latest of the 45, with Alaska perhaps soon to join them). Ron Wyden (D-OR), chair of the Committee on Finance that last year examined the impact of Wayfair on small businesses.

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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. In addition, incorporating, of course, establishes their legal separation from the business’s liabilities sooner, which protects their personal finances from the business’s debts.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Additionally, examine personal income tax rates and sales tax rates, as they can affect both your business revenue and personal finances — both of which can also impact your ability to attract and retain talent. Alaska: Fostering small business development Alaska is known for its support of small businesses.

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AICPA Recognizes Top 2022 CPA Exam Performers with Elijah Watt Sells Award

CPA Practice

Victoria Saravia Bazoberry (New York), a graduate of the University of Notre Dame with a Bachelor of Business Administration in accountancy, is employed with KPMG LLP in New York, NY. Sells, one of the first CPAs in the U.S., was active in the establishment of the AICPA and played a key role in advancing education within the profession.

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Handling Sales Tax In-House: Job Market Challenges Continue

TaxConnex

According to TaxConnex’s recent market survey of 100 top finance professionals, most respondents (79%) say their growth plan for the next 12 months involves hiring employees out of state (as well as acquiring customers or otherwise increasing the number of states in which they’ll need to collect and file sales tax). Long term, U.S.

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What's new in May for state sales and use taxes

TaxConnex

Despite all good intentions of municipal representatives of both parties, replacing the revenue that would be lost with a sales tax exemption on groceries has been plagued with what one city finance director called “choice overload.”. It claimed that these services were exempt as accounting services and as customization of software.

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