ThomsonReuters

JULY 1, 2022

In certain cases, an employer may wish to pay an employee’s federal income tax withholding (FITW) and FICA (Social Security and Medicare) taxes without deducting them from the employee’s pay or getting a reimbursement from the employee. Here’s how such a gross up would look: Step 1. 500 ÷ 70.35% = $710.73.

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ThomsonReuters

SEPTEMBER 22, 2023

more frequently “to help them with a wide range of employment matters, such as selecting new employees, monitoring performance, and determining pay or promotions.” What’s the goal you’re trying to achieve, and how does the A.I. also be held accountable to a certain extent? Also, both New Jersey ( L.

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Legal audit payroll Technology 52

LyfeAccounting

JUNE 11, 2021

But what in the world is a reasonable salary? What is an S-Corporation? Let’s start by telling you what it is not. According to the IRS : S-Corporations must pay reasonable compensation to a shareholder-employee, which is basically a shareholder who works in the business. How to pay yourself in an S-Corporation?

Non-Profits 52

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Ronika Khanna CPA,CA

JUNE 30, 2023

As an accountant and small business financial consultant, one of the most common areas of confusion and questions by small business corporation owners revolves around how to pay themselves and if one way is preferable to another. A salary is paid to the employee of a business while a dividend is paid to the shareholder of a business.

tax return 52

tax return Non-Profits income tax Tax 52

ThomsonReuters

NOVEMBER 25, 2020

In April, I published a post, The Coronavirus pandemic: Executive pay cuts a sign of the times , highlighting companies across multiple industries that were making downward adjustments to the compensation of their executives and board members to help stay afloat in response to the crisis. 1) Duration of cuts. 2) Nature of cuts.

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ThomsonReuters

JUNE 22, 2021

No one enjoys being told what to do or feeling powerless. How then can IT leaders in large tax and accounting firms best make their case for new technology? For most people in accounting firms, driving change, and leading people through change is not a natural skill set for them. What are the firm’s strategic goals?

accounting firms 89

accounting firms Tax Account accountant 89

ThomsonReuters

APRIL 18, 2023

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. What are the current issues in accounting? but there are several common hurdles that often run industry wide.

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Account accountant accounted Technology 52

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. NEC” stands for “non-employee compensation”. – The IRS launched IRIS, a new free online portal , for businesses to file 1099 returns.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. NEC” stands for “non-employee compensation”. – The IRS launched IRIS, a new free online portal , for businesses to file 1099 returns.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Xero

MARCH 29, 2023

But for many people, there is confusion around what the metaverse actually is and how it could be used in a practical way. What’s interesting is that the foundations of the metaverse are being built into technology you may already use today. Let’s look at how you can start becoming better versed in the metaverse.

Technology 73

Technology Start-ups bookkeeping audit 73

ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? To keep up, more and more accountants are streamlining data entry with scan-and-populate solutions that automate the tax prep process and create a seamless client experience. What is a qualifying child vs dependent?

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Tax income tax tax preparation tax return 52

ThomsonReuters

JANUARY 9, 2024

But what does that mean for your taxes? And what tax benefits and strategies are available to a C corp that aren’t available to an S corp or LLC? What is “double taxation”? One unique aspect of C corporations is that they are subject to “ double taxation.”

corporation tax 52

corporation tax Tax income tax Non-Profits 52

ThomsonReuters

NOVEMBER 4, 2021

Will our plan have to comply with nondiscrimination rules under Code § 105(h) and, if so, what do these rules require? These tests are designed to prevent a self-insured health plan from unduly favoring employees who are highly compensated individuals (HCIs). Here is an overview of the two tests. Eligibility Test. Benefits Test.

Tax 97

Tax Account accountant accounted 97

Mark Lee

SEPTEMBER 19, 2023

The more focused you can be as regards your ideal clients the more chance there is that they will recognise you as an accountant they should approach. I have seen how referencing a niche or specialism can be a successful strategy for many firms and many accountants I know. Or limited companies with no more than 2 employees?

Account 52

Account accountant accounted Construction 52

Mark Lee

SEPTEMBER 19, 2023

The more focused you can be as regards your ideal clients the more chance there is that they will recognise you as an accountant they should approach. I have seen how referencing a niche or specialism can be a successful strategy for many firms and many accountants I know. Or limited companies with no more than 2 employees?

Account 52

Account accountant accounted Construction 52

LyfeAccounting

JULY 6, 2021

In this post, we will explain the 6 general steps of buying an existing business and what to look out for when choosing a business to buy. In this post, we will explain the 6 general steps of buying an existing business and what to look out for when choosing a business to buy. Step 1: Figure out what you’re budget is.

Non-Profits 52

Non-Profits accounting and finance Sales Finance 52

ThomsonReuters

AUGUST 16, 2021

The List and Legality of Employee Vaccination Requirements. has caused some states to take executive or legislative actions regarding the COVID-19 vaccine and masks, specifically for some employees. has caused some states to take executive or legislative actions regarding the COVID-19 vaccine and masks, specifically for some employees.

Legal 52

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CTP

SEPTEMBER 16, 2022

Taxpayers who received unemployment compensation in 2021 can also receive special provisions. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. The answer is “yes”! Itemized Deductions. STRATEGIES TO MAXIMIZE TAX CREDITS.

tax planning 52

tax planning Tax Real Estate Education 52

CTP

SEPTEMBER 16, 2022

Taxpayers who received unemployment compensation in 2021 can also receive special provisions. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. The answer is “yes”! Itemized Deductions. STRATEGIES TO MAXIMIZE TAX CREDITS.

tax planning 52

tax planning Tax Real Estate Education 52

ThomsonReuters

JUNE 7, 2021

Let’s say, for example, that one of your compliance objectives involves reporting the energy risk that you face on account of potential price hikes. So, registrants, gone are the days when ESG efforts were merely a public relations tactic and you could get away with promising without delivering. Why bother with ESG reporting?

audit 98

audit accounting and finance Government Non-Profits 98

ThomsonReuters

MARCH 1, 2021

In the early 1900s, automobile engineer Henry Ford made headlines for paying remuneration at two times the going hourly wage at the time – $5 per hour – to many of his employees. Whether it’s beer, bread or a decent hourly wage, employees want to be properly compensated for the work or service they perform for an employer.

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payroll Tax Virginia Texas 98