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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. By Nellie Akalp. for both employees and employers.

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An Employer’s Guide to Multi-State Payroll Tax Withholding for Remote Workers

Anders CPA

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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

Snyder

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

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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2023 in review: The year in sales tax

TaxConnex

National sales tax H.R.25 25 of the 118th Congress, the GOP’s “Fair Tax Act of 2023,” was this year’s attempt at finally creating a long-held dream of some: a national sales tax. The instantly embattled bill seeks a national sales tax on the use or consumption in the U.S.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Property and payroll taxes In addition to business or personal income taxes and sales tax, property and payroll taxes are important considerations. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Finally, SUI tax rates tend to change from calendar year to calendar year and can rise or fall depending on the economy and the state’s unemployment fund status. Some states require employers to pay additional payroll taxes. In Kentucky, employers are required to withhold an Occupational Tax from employees’ wages.