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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

Two years ago, for instance, Wisconsin studied how halving its 200-transaction threshold would hurt coffers. South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. The conclusion: “minimal fiscal effect.” Who’s taken the latest action?

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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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Episode 068: A conversation with Allan Koltin

BuildYourFirm

For twenty consecutive years, Allan has been named by Accounting Today as one of the Top 100 Most Influential People in the accounting profession. Koltin was also voted one of the 10 Most Recommended Consultants for the sixteenth straight year in the “Annual Survey of Firms” conducted by INSIDE Public Accounting.

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Sales tax ‘responsible party’ laws still going strong

TaxConnex

The individual acknowledged that he was the corporation’s sole shareholder and was ultimately responsible for the business operations, but that he wasn’t liable for the tax delinquency because he was duped by an employee who handled the corporation’s finances.

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Costs of non-compliance (part 1)

TaxConnex

Government Accountability Office (GAO) reports that one business with some $40 million in gross receipts incurred a cost of almost $250,000 beyond taxes owed due to an error in software code. Ron Wyden (D-OR), chair of the Committee on Finance that last year examined the impact of Maybe someday. What happens if they do?

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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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