article thumbnail

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. Medicare tax on wages exceeding certain thresholds.)

article thumbnail

Professional tax help Chicago: Taxpayers Facing Tax Audits, Back Taxes, and 941 Payroll Tax Problems

MyIRSRelief

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Monday Morning Accounting News Brief: Tax Fees Up, Coolness Still Down; | ‘Lavish’ ERC Mill Hit With a Lawsuit | 1.8.24

Going Concern

The headline is a bit disappointing however the article is not: Tax prep fees are rising because accounting is not a ‘cool’ career American taxpayers had to pay at least 20% more on average to get their taxes done last year — and accountants aren’t thrilled about it either. increase from $167 two years ago.

Tax 104
article thumbnail

CPE Webinar July 18, 2023: Get Tax Ready! Solving Source Doc Gathering Issues

CPA Practice

Join SafeSend, as they share the journey of solving pain points experienced on the front-end of the tax process and define a new way to get your firm and clients tax ready! Field of Study: Business Management & Organization Register Today Presented by Shirley Chen is a SafeSend Product Enthusiast based in Commerce, Michigan.

Tax 80
article thumbnail

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.

article thumbnail

FAFSA Changes Rules on 529 Plans, Making It Easier for Grandparents and Others to Help Students

CPA Practice

Grandparents, then, can maintain a 529 account, with their grandchildren as the beneficiaries, and distribute those funds to their grandchildren without it impacting aid eligibility. What is a 529 account? Contributions are not federally tax-deductible, but many states do offer a state tax deduction. So what’s changing?

article thumbnail

CPE Webinar September 28, 2023: Source Doc Gathering, Delivery & E-Sign Issues

CPA Practice

Join SafeSend’s Andrew Hatfield, co-founder and Chief Growth Officer, as he shares the journey of solving pain points experienced on the front-end and back-end of the tax process. Discover the fastest and easiest way get your firm and clients from “tax ready” to “finish & file” using automation.