ThomsonReuters

JANUARY 24, 2022

The question arises whether a worker who refuses an employer’s vaccine mandate is eligible to collect unemployment benefits, and if so, are employer unemployment accounts impacted by those claims. The answer, as you might expect, is complicated. . Legislation ( L. Legislation ( L. Legislation passed on October 13, 2021 ( L.

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ThomsonReuters

MARCH 9, 2023

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Breeze through tax season easily with our comprehensive year-end tax season toolkit.

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LyfeAccounting

OCTOBER 29, 2020

?. Let’s talk about taxes on stocks. We’ll be covering when you have to pay taxes on a stock, how to calculate how much taxes you have to pay on stocks, and how to lower your tax liability on stocks. Even if you are new to stock investing or taxes, this post will be extremely easy to follow and understand.

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ThomsonReuters

JANUARY 13, 2022

A new mailing address has been provided for certain determination requests that may only be submitted on paper, and the procedure clarifies that certain documents regarding a change in method of accounting may be signed electronically. Here are highlights for employee benefit plans: Revenue Procedure 2022-1. Revenue Procedure 2022-4.

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ThomsonReuters

AUGUST 5, 2021

On August 4, 2021, the IRS released Notice 2021-49 that provides additional guidance regarding claiming the Employee Retention Credit (ERC) for employers who pay qualified wages after June 30, 2021, and before January 1, 2022 [IR 2021-165,?Notice The Employee Retention Credit is a refundable tax?credit Notice 2021-49]. ARPA also: .

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Nancy McClelland, LLC

DECEMBER 26, 2023

You cannot depend on the company’s name to determine corporate status, nor can you rely on the state LLC/Corp database, as it only indicates the entity type at the state level — almost any type of entity may elect corporate status with the IRS. So, keep in mind that a company can be an LLC but be taxed as a corporation.

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Nancy McClelland, LLC

DECEMBER 26, 2023

You cannot depend on the company’s name to determine corporate status, nor can you rely on the state LLC/Corp database, as it only indicates the entity type at the state level — almost any type of entity may elect corporate status with the IRS. So, keep in mind that a company can be an LLC but be taxed as a corporation.

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bookkeeping tax return Non-Profits Tax 52

ThomsonReuters

FEBRUARY 9, 2022

Typically, when an employer needs to terminate an employment relationship with workers, the employer’s unemployment tax rate for the following year may increase. If a state does not repay these loans within around two years, the Federal Unemployment Tax Act (FUTA) tax credit for employers in those states is reduced.

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LyfeAccounting

MARCH 25, 2021

As an accounting firm, we get asked all the time. “What should my business entity be? I heard that I should have an LLC.” ” Well, the truth is, sometimes you need an LLC, and guys, sometimes you don’t. Let’s get into it! Some of the things you may know and there likely will be some things you don’t know.

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: Are political donations tax deductible? Are church donations tax deductible? Are GoFundMe donations tax deductible? Are donations to the ACLU tax deductible? Are donations to Planned Parenthood tax deductible? Are political donations tax deductible? Are PAC donations tax deductible?

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: Are charitable donations tax deductible? How do charitable donations affect taxes? What donations are tax deductible? IRS rules for charitable contributions How much do charitable donations reduce taxes? Are charitable donations tax deductible? How do charitable donations affect taxes?

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ThomsonReuters

JANUARY 17, 2023

Tax season can be a confusing and challenging time of year for businesses. This can be especially true for businesses who employ nonresident aliens, as nonresident alien tax can become complicated. . What is the importance of an income tax treaty? What tax form does a nonresident alien file?

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Tax income tax tax return Non-Profits 59

LyfeAccounting

JANUARY 5, 2021

As a bonus, the US tax code allows you to receive when you give, in the form of tax deductions that can lower your tax bill. And today, we’re going to be going over everything you need to know about tax deductible donations. So, friends and family unfortunately do not qualify for a tax deductible donation.

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ThomsonReuters

MARCH 15, 2021

March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the income tax filing deadline. March 15 may be another day to beware of regarding non-qualified deferred compensation plans under Internal Revenue Code (IRC) §409A. This was the case for most months. In the U.S.,

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LyfeAccounting

JUNE 24, 2021

So, there are a few things we need to clear up about the 2021 advance Child Tax Credit. You see, we recently published a post talking about the child tax credit and there were still a ton of questions left by parents in the comments, and we wanted to address them in this post. 17 Advance Child Tax Credit FAQs & Answers.

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ThomsonReuters

AUGUST 16, 2021

Back in June of 2021, President Biden ordered every federal government employee and onsite contractor to attest to their vaccination status. In this blog, I’ll list and describe the vaccine and mask mandates. There is an exemption from this requirement due to religious beliefs or qualifying medical reasons.

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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. . Federal News . The Acting U.S. State of New Hampshire v. Commonwealth of Massachusetts.

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ThomsonReuters

MARCH 1, 2021

Also, certain Forms 1099 must be filed by March 1, 2021 – except new tax year 2020 Form 1099-NEC for nonemployee compensation, which had a due date of February 1, 2021 (typically January 31, but it fell on a weekend). Remuneration is the money paid for work or a service. bread, meat, clothing, etc.) and payment was recorded on clay tablets.

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