ThomsonReuters

JULY 1, 2022

In a previous edition of the Certified Payroll Professional (CPP) Corner, we talked about gross ups. This may be desirable, for example, when the employer wants to give an employee a “net” bonus or cover an employee’s relocation expenses in full. Here’s how such a gross up would look: Step 1. Gross ups.

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

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ThomsonReuters

MARCH 5, 2024

tax system, including provisions affecting both individuals and businesses. Among these were several payroll-related provisions that are set to expire at the end of 2025, presenting challenges and opportunities for employers and employees alike. Director of Federal Tax Quality Control at Aprio, began.

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Xero

FEBRUARY 15, 2023

For those working in payroll, that can only mean one thing: year end is approaching. There are four key changes in New Zealand payroll calculations for the new financial year: Adult minimum wage will increase to $22.70 It’s that time of year again. per hour from 1 April 2023 The annual ACC earner levy rate is increasing from 1.46

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ThomsonReuters

APRIL 25, 2023

The CPI and payroll are intertwined in a variety of ways. Employers and payroll professionals look to these monthly numbers to make changes and adjustments to payroll systems and also to forecast possible impact on the business in the near future. Both employers and employees pay a 6.2% What is the CPI?

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ThomsonReuters

JANUARY 14, 2022

The top payroll related searches for 2021. Payroll practitioners and employers alike continue to be challenged by the unique issues that COVID-19 has imposed on payroll administration. Payroll on Checkpoint has analyzed the searches of our subscribers to create this Top 20 list of topics in the forefront in 2021.

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DuctTapeMarketing

JULY 24, 2018

Tips for Outsourcing Your Payroll. Tips for Outsourcing Your Payroll. For small business owners, managing payroll can be a costly endeavor. If you’re beginning to feel out of your depth with internal payroll management, it may be time to consider outsourcing the process.  Services Online Audit. Strategy First.

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ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. State legislators are responding to the call. Minimum wage increases.

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ThomsonReuters

JULY 6, 2023

Tax teams prepare tax provisions by gathering data, performing calculations, and entering the results into forms. However, corporate tax teams find it difficult to automate this process. What are APIs and how do they work? What are APIs and how do they work? What are the benefits of tax provision software?

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ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? Examples of direct tax Understanding tax provision Understanding state apportionment Differences between direct and indirect taxes When a taxpayer must pay taxes directly to the government, meaning the taxes cannot be shifted to other entities or individuals, it is known as direct tax.

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LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. And have noticed that taxes were withheld from their paychecks.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

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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. These amounts are reported as employment income on your personal tax return.

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Inform Accounting

APRIL 26, 2022

So as we enter the new tax year, what is the most tax efficient way for a director to draw money 2022/23? Key tax changes for 2022/23. The employment allowance has increased to £5,000. National Insurance Contributions (NICs) and dividend tax rates are increasing by 1.25% to support the NHS, health and social care.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. Are you really doing everything you can to reduce your tax burden? How are S corporations taxed? When are S corps taxes due?

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Cheap Accounting

MARCH 28, 2022

It’s that time of the year when I update our annual blog advising those operating via a Limited Company on how to extract money from their business to pay themselves. This year the blog is different. I am not going to be setting out what you should pay yourself in a salary and how much tax you’ll pay on this and your dividends.

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Snyder

JUNE 13, 2022

Tax calculations can be tedious and complicated, and if you’re not careful, your Shopify store might run into legal troubles. EIN is an acronym for Employer Identification Number. Businesses use EINs for a variety of purposes, including opening business bank accounts, filing taxes, and hiring employees.

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ThomsonReuters

APRIL 18, 2023

That’s why it is no surprise that the AICPA’s most recent “Top Firm Issues Survey ” found that “keeping up with changes and complexity of tax laws” is among the top issues for firms large and small. This has given rise to new growth opportunities for firms, but that’s not to say that accounting issues don’t remain in their daily workflows.

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ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. What are the main types of business ownership?

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Cheap Accounting

AUGUST 31, 2023

Entering the world of self employment and being your own boss is extremely exciting. Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. What taxes will I pay? Tax is paid on profits (income less allowable costs) from your business.

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Ryan Lazanis

SEPTEMBER 19, 2023

Table of Contents The Do’s and Don’ts of Accounting Website Design The Top 43 Examples of Accounting Websites The Do’s and Dont’s of Accounting Website Design To give you an idea of how to make your accounting practice more appealing to prospective clients, I listed down some practices you should consider and avoid.

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Ryan Lazanis

SEPTEMBER 1, 2023

Each item in the list will contain a brief description and will focus on how you can level up your accounting automation. If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market.

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LyfeAccounting

FEBRUARY 4, 2021

Perhaps the most important part of the December 2020 stimulus surrounds the ability to deduct the expenses that the PPP loan was used to cover for federal tax purposes. This is a big deal for your business and will potentially save you a lot of money at tax time. Let us first discuss the basic PPP rules that have been established.

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LyfeAccounting

NOVEMBER 25, 2020

?. Today, we’ll talk about how to apply for PPP Loan Forgiveness. So now, with the covered period ending for many small businesses, the question is, “How exactly do I go about getting the PPP Loan Forgiveness?”. How to Apply for PPP Loan Forgiveness. Step 1: You need to look at the application set-up and calculations.

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LyfeAccounting

JULY 20, 2021

It is there to lay ground rules and procedures for how the business owners and the managers of the business will handle decisions. This includes how ownership is divided, how profits will be split, how often you will meet, what happens if a member wants to leave the LLC or passes away, and much more. Dissolution.

income tax 52

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ThomsonReuters

DECEMBER 5, 2023

As the end of the calendar year approaches, businesses embark on the crucial task of finalizing their payroll processes. “There’s guidelines and rules within each state on how they work and how they interact.” According to the U.S.

payroll 98

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Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

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LyfeAccounting

NOVEMBER 2, 2020

This is because selecting between these two options will determine your tax outcomes for both you and your employees. This is because selecting between these two options will determine your tax outcomes for both you and your employees. Independent contractors have complete control over how they execute your contract.

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ThomsonReuters

FEBRUARY 15, 2022

The Consumer Price Index is involved in payroll topics like minimum wage, benefits, and the federal tax brackets. For the purposes of payroll, the CPI is important for topics such as minimum wage and benefits. Recently, the high rate of inflation is a topic of importance and concern. Inflation has risen 7% over the past year.

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ThomsonReuters

JANUARY 9, 2024

“I think that’s where I’m more worried about it,” James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, began. “I think that’s where I’m more worried about it,” James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, began.

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ThomsonReuters

JUNE 14, 2021

The purpose of the UIPL was to update examples of employment situations requiring uniform interpretation of localization of work provisions in state laws and to revise and reissue the interpretation of “ localization of work ” provisions. During the coronavirus (COVID-19) pandemic, many employees began working remotely.

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Xero

MAY 17, 2022

And this year is no different, with updates coming to payroll in FY23. . Starting from 1 July 2022, there are a number of government requirements that will impact how you manage payroll (including superannuation) for employees. So, what do these payroll changes mean for my business? . Let’s take a closer look.

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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. . This deadline was extended by the Consolidated Appropriations Act (CAA) of 2021.

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ThomsonReuters

FEBRUARY 9, 2022

Part 1 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including worker classification, COVID-19 vaccine mandates, and wage and hour. Read part 2 for more 2022 payroll trends. It can result in costly penalties and the payment of back wages and taxes.

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ThomsonReuters

JUNE 10, 2021

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Department of Labor applies a “ primary beneficiary test ” to determine if an intern for a “for-profit” employer is an employee for Fair Labor Standards Act (FLSA) purposes. 2) Seasonal employment.

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ThomsonReuters

JANUARY 9, 2024

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? But what does that mean for your taxes? How are C corporations taxed?

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