Xero

MARCH 16, 2023

That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. We have also introduced a new checklist within Xero Payroll to streamline your tasks and make it easy as we approach year end. You’ll have until 19 April 2023 to make any changes.

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ThomsonReuters

NOVEMBER 27, 2023

Payroll Guide ¶ 4100 et seq. The Quick Reference Chart found at Payroll Guide ¶ 5021 is a great at-a-glance guide for state supplemental wage withholding compliance requirements. For payments issued on a one-time basis separate from a regularly scheduled payroll, several states have requirements for withholding rates.

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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. John Jantsch Speaking. Contact Us Contact Our Team.

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ThomsonReuters

JULY 1, 2022

In a previous edition of the Certified Payroll Professional (CPP) Corner, we talked about gross ups. In Payroll Guide ¶4115 , we discuss the IRS’s formula for completing a gross up. Here’s how such a gross up would look: Step 1. Gross ups. Previous question. 500 ÷ 70.35% = $710.73. 210.73 = $500 (desired net)).

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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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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. What is the CPI? population. Both employers and employees pay a 6.2%

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ThomsonReuters

NOVEMBER 27, 2023

But how do you tax the value of a noncash fringe benefit? How do you calculate PUCC? There are four methods to calculate personal use of a company car (PUCC): General valuation method. The ALV is determined according to a table as provided in IRS regulations (see Payroll Guide ¶3580 ). 8,750 ÷ 12 = $729.17

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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. per hour by 2027.

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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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CPA Practice

NOVEMBER 14, 2023

Our 2023 event doubled down on how AI-driven innovations can help accountants and the small businesses they serve gain insights to make more informed business decisions. “Our Together, we’re unlocking new ways to power prosperity.” Here is a summary of the new products and features. Learn more about QuickBooks Ledger.

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ThomsonReuters

MARCH 5, 2024

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. “It splinters out into so many different areas of business and life – employment, your hiring practices as an employer, [and] how you structure your business.”

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ThomsonReuters

JULY 6, 2023

Tax teams prepare tax provisions by gathering data, performing calculations, and entering the results into forms. What are APIs and how do they work? For example, if two programs want to exchange data, they must define how the data will be formatted and how it will be sent. APIs have rules.

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LyfeAccounting

DECEMBER 31, 2020

For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes. Payroll Tax Filings: Forms That You Need. Payroll Tax Filings: Things to Keep in Mind.

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LyfeAccounting

DECEMBER 7, 2020

Today, we’re going to be deep-diving into US payroll taxes. My promise to you is that any question you have about payroll taxes will be answered and the high-level details you need to know about payroll taxes will be shared. Categories of US Payroll Taxes. Types of US Payroll Taxes. So let’s get started!

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ThomsonReuters

FEBRUARY 6, 2024

The more common types of direct tax are: Individual income tax Corporate income tax Capital gains tax Estate tax Property tax Payroll tax Individual income tax One type of direct tax is individual income tax, which is also known as personal income tax. While some have to calculate their income tax provision , some U.S.

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ThomsonReuters

JULY 25, 2023

Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. Thomson Reuters: How are certain trends in politics, culture, technology, or industry affecting businesses?

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ThomsonReuters

AUGUST 25, 2023

How is software depreciated for tax purposes? Take this example: Your business client purchased software in December 2022 to process payroll, accounts payable, and accounts receivable, but they didn’t put that software into service until January 2023. Jump to: What is software depreciation? Can software be amortized?

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Xero

NOVEMBER 30, 2022

See how we’re Building on Beautiful. We are introducing payroll history to the Organisation, Calendars, Pay Items and Superannuation tabs in the payroll settings section of Xero Payroll (Australia only) . Get ready to switch to new reports. We’ve released a new 2022 Schedule C report template for advisors in the US.

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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. How does CPP and EI work with salary and dividends? What are the reporting requirements for salary?

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ThomsonReuters

JANUARY 28, 2022

Figuring out how to stabilize revenue throughout the year can help you reduce overall stress and improve income potential. Tax accountants who only earn an income part of the year have to figure out how to stretch that income through the lean months. Why revenue stability is important for small and mid-sized tax and accounting firms.

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Xero

SEPTEMBER 8, 2022

We launched part one , which examined and offered insights into how small businesses can improve their cash flow management, at Xerocon London in July. Joe discussed how embracing digital tools – and the life-changing ease, connections and insights they bring – will help small businesses and their advisors through this period of uncertainty.

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Ronika Khanna CPA,CA

DECEMBER 7, 2023

This article is meant to provide some insight on whether QuickBooks is the right choice for your small business, If you have decided to go ahead and sign up for QuickBooks Online , you can refer to my article on how to set up QBO for the first time or purchase my comprehensive beginners guide. If you use these links we may earn a commission.

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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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Inform Accounting

APRIL 26, 2022

For more information on these key tax changes, take a look at our blog Changes affecting staff costs and dividends from April 2022. As Director pay is calculated on an annual basis, the annual limits are £6,396 to £11,908 for each of the respective dates above. Key tax changes for 2022/23. Minimising Employee’s NIC. Exceptions.

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ThomsonReuters

OCTOBER 24, 2023

Data consolidation challenges, complex calculations, and reporting requirements can turn the trek into a daunting ordeal fraught with time-consuming inefficiencies and greater risk of errors. “One based CFO Consultants, in a blog post. accounting software, payroll, etc.) Fortunately, tax departments are not powerless.

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ThomsonReuters

APRIL 18, 2023

The question then becomes: how? To assist today’s firms, this article will provide an overview of some of the top accounting issues firms face and the solutions that can help them tip the scale in their favor. . — but there are several common hurdles that often run industry wide.

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Xero

JULY 18, 2022

Accounting has always been a careful balance of calculations and consulting. We believe that we will see a fundamental shift in how practices are run over the next 18 months, with those embracing digitalisation having a strong advantage over those that don’t. . What should be digitalised? .

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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. However, if you’re running a business with multiple employees, you are required to have an EIN, as businesses with employees are subject to payroll taxes, which must be paid using an EIN.

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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. Ready to dive in?

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xendoo

MARCH 17, 2022

In this blog post, we will discuss how online bookkeeping works and how it is crucial to business growth! In this blog post, we will discuss how online bookkeeping works and how it is crucial to business growth! How Do Online Bookkeepers Access Physical Documents? . Going Digital.

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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.

payroll 52

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Shay CPA

JANUARY 17, 2024

They can make you aware of any deadlines you need to know about based on your specific business and where and how it operates. They can make you aware of any deadlines you need to know about based on your specific business and where and how it operates. It can all feel overwhelming, but laying out your to-dos helps to simplify things.

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ThomsonReuters

JULY 6, 2023

If you are an accounting professional who has been contemplating a change in career path, you’re not alone. Accountants have the knowledge and experience necessary to work as trusted advisors to the public or within a company, so your certification qualifies you for a variety of career paths. What career can an accountant switch to?

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Xero

APRIL 11, 2023

We know how important this kind of work is to your business or practice. Gone are the days when you need to sit at the desk to get those pesky admin jobs done. With our suite of mobile apps, you have real-time information about your business or practice at your fingertips, and can tick off those smaller tasks on the go.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs).

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ThomsonReuters

JUNE 16, 2023

Do you know how to spot it? How widespread is corporate fraud? When one thinks of accounting fraud, it is likely that these are some of the cases that come to mind. However, most cases of accounting fraud will not make news headlines and can happen in companies of all sizes and industries.

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