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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. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Filing tax returns and remitting payments on time.

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Avalara Gives Update on Online Marketplace and Tax Changes in 2024

CPA Practice

By 2027, marketplaces may account for 59% of ecommerce globally. Remit sales tax to the proper tax authority Once sales tax has been collected as required, it must be remitted on time with a sales tax return to the proper tax authority. Sales tax is administered by the state tax authority (e.g.,

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Payroll Taxes for an Employer: How Is Payroll Tax Calculated?

Snyder

From their side, the employer is responsible for: Paying their share of payroll taxes; Depositing tax dollars withheld from the employees’ paychecks; Preparing reconciliation reports; Accounting for the payroll expense; Filing payroll tax returns. To learn more about income taxes check our blog → Click here.