CPA Practice

NOVEMBER 9, 2023

The Department of Health and Human Services recently made an official recommendation to the Drug Enforcement Administration (DEA) to reschedule cannabis as a Schedule III drug, a move that may significantly impact the way that cannabusinesses manage their operations and taxes.

Non-Profits 85

Non-Profits Real Estate Agriculture Tax 85

Xero

NOVEMBER 21, 2022

We’re incredibly excited to share that Baker Tilly Canada has achieved Xero’s Platinum Partner status, which demonstrates the audit, tax and advisory network is helping to lead the way with the future of cloud accounting in Canada.

Agriculture 86

Agriculture Technology accounts payable audit 86

ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. Form 941 is a tax report due on a quarterly basis.

income tax 98

income tax tax return payroll Tax 98

inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. Pay above this amount is not subject to social security tax.

payroll tax 52

payroll tax payroll Tax Agriculture 52

inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. Pay above this amount is not subject to social security tax.

payroll tax 52

payroll tax payroll Tax Agriculture 52

Xero

JANUARY 9, 2024

David Rogowiec, Partner, Equivion David worked at Deloitte on the Multi-State Tax team for two years prior to starting Equivion. Tayla Willinger, CAS Accounting Manager, Adams Brown Tayla is a seasoned professional with a dynamic background in accounting, banking and agriculture.

Alabama 77

Alabama bookkeeping Technology E-commerce 77

ThomsonReuters

FEBRUARY 7, 2022

Agricultural range workers: $515.00 per hour for agricultural workers . It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . Employers with 50 or more employees: $16.50 Employers with fewer than 50 employees: $16.00 per hour. . per hour; $9.54

Rhode Island 92

Rhode Island South Dakota Connecticut Agriculture 92

PYMNTS

JULY 15, 2020

The plan recommends providing a short-term relief fund for the industry, which would create a targeted fund specifically to help restaurants recover; help them access more Paycheck Protection Program (PPP) funds; and help them address liability protections and aiding with any tax, insurance or loan problems, the release stated.

Agriculture 68

Agriculture payroll tax payroll Maine 68

CPA Practice

NOVEMBER 7, 2023

The Department of Health and Human Services recently made an official recommendation to the Drug Enforcement Administration (DEA) to reschedule cannabis as a Schedule III drug, a move that may significantly impact the way that cannabusinesses manage their operations and taxes.

Non-Profits 40

Non-Profits Real Estate Agriculture Tax 40

KROST

DECEMBER 22, 2020

Tax Deductibility. The Bill clarifies that business expenses claimed and forgiven under the PPP loan program are deductible for tax purposes. No deduction shall be denied, no tax attribute will be reduced, and no basis increase will be denied by reason of the exclusion from gross income provided by (I). Eligible expenses.

payroll 53

payroll Agriculture Tax Hospitality 53

ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

payroll 98

payroll Missouri Virginia Delaware 98

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee. Federal News.

payroll 98

payroll income tax Vermont tax return 98

ThomsonReuters

JUNE 21, 2021

Repaying Deferred Social Security Taxes . In addition, a Presidential Memorandum signed on August 8, 2020, allowed employers to defer the employee’s share of Social Security tax from September 1, 2020 through the end of tax year 2020. . credit for employer FICA tax paid with respect to employee cash tips.

payroll 52

payroll Tax Missouri Massachusetts 52

ThomsonReuters

APRIL 26, 2022

The Act established an Energy Transition Economic Development Assistance Fund that helps employers to qualify for tax relief for hiring displaced workers. Climate resilient sectors include transportation, energy, industry, commercial and residential buildings, and agriculture. West Virginia.

payroll 95

payroll Vermont Rhode Island Hawaii 95

ThomsonReuters

MARCH 8, 2021

Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. Unemployment tax rate rollback. Federal News. Senate passes $1.9

payroll 52

payroll Connecticut Alabama Virginia 52

ThomsonReuters

AUGUST 18, 2022

The IRS may need to revise certain employment tax reporting forms, and the forms used to claim the qualified small business payroll tax credit for increasing research activities, after President Biden signed the Inflation Reduction Act ( H.R. Social Security tax up to the annual taxable wage base ($147,000 in 2022).

payroll tax 105

payroll tax payroll tax return income tax 105

xendoo

SEPTEMBER 2, 2021

Planning ahead is always a good business strategy, especially when it comes to taxes. Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . Income Tax for Individuals, Sole Proprietors, and Single-Owner LLCs. Second Quarter: June 15.

Tax 52

Tax income tax tax return tax preparation 52

ThomsonReuters

DECEMBER 11, 2020

The IRS has added an optional computational bridge to its 2021 version of Publication 15-T (Federal Income Tax Withholding Method) that employers can use if they want to treat 2019 or earlier Forms W-4 as if they were 2020 or later Forms W-4 for the purposes of determining federal income tax withholding. Background. Publication 15-T.

income tax 98

income tax Agriculture Tax Non-Profits 98

ThomsonReuters

DECEMBER 29, 2020

The law includes a number of payroll-related provisions aimed at helping employers and workers close out 2020 and begin 2021. The editors of the Thomson Reuters Checkpoint payroll news team feel it would not be too bold to write that 2020 has been a challenging one. Extension of Certain Deferred Payroll Taxes.

payroll 118

payroll Non-Profits Agriculture payroll tax 118

ThomsonReuters

JULY 29, 2021

Professions where a worker spends a significant amount of time outdoors includes: construction workers, agricultural workers, baggage handlers, electrical power and transmission control workers, and landscaping and yard workers. Now let’s go over some of the more important payroll stories from the past week. Federal News.

payroll 52

payroll New Jersey Idaho Wisconsin 52

ThomsonReuters

FEBRUARY 22, 2021

The first recorded use of the word “payroll” appeared around 1740 A.D. Over time, payroll has become much more than just paying wages to employees. It also has to do with a wide variety of topics such as reporting and paying taxes and keeping in compliance with laws. Payroll in a Pandemic.

payroll 95

payroll Montana Wisconsin Tax 95

MyIRSRelief

JANUARY 4, 2021

The provision established the PPP, which provided up to 24 weeks of cash-flow assistance through 100% federally guaranteed loans to eligible recipients to maintain payroll during the COVID-19 pandemic and to cover certain other expenses. times the average monthly payroll costs in the one year prior to the loan or the calendar year.

Non-Profits 147

Non-Profits payroll Agriculture Hospitality 147