Patriot Software

MARCH 6, 2024

Understand the new Alabama overtime tax law that exempts employees' overtime earnings from state income tax. Get the details and reporting requirements for businesses. Read More

Alabama 100

Alabama Tax income tax payroll tax 100

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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payroll tax payroll South Dakota Rhode Island 52

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

payroll 59

payroll Tax income tax payroll tax 59

ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. What’s on the horizon?

Hawaii 98

Hawaii payroll tax South Dakota payroll 98

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. On July 1, the minimum wage increases to $9.00 New Mexico.

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