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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ThomsonReuters

FEBRUARY 9, 2022

Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. This results in employers paying more in FUTA taxes. Virgin Islands is currently the only tax jurisdiction that is a FUTA credit reduction state.

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ThomsonReuters

AUGUST 19, 2021

Several have asked about making HSA contributions on a pre-tax basis so they can receive income tax savings every payroll period (instead of waiting until they file their tax returns) and avoid paying FICA taxes on those contributions. Our company could also save its share of FICA taxes on the contributions.

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Shay CPA

JUNE 7, 2023

For starters, if your company is big enough, you might be subject to the Worker Adjustment and Retraining Notification Act (WARN) , which says that you need to give affected employees 60 days of notice. And, of course, you can’t forget about how your layoffs impact your books and payroll. Is your head spinning yet?

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Shay CPA

MAY 3, 2023

For most companies, payroll makes up a huge category in the latter. Fortunately, there’s a way to minimize that pain while still paying your employees the salaries and hourly wages they deserve. It’s the R&D credit that the IRS will let you apply toward payroll taxes. But you see that total and it can sting a little.

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LyfeAccounting

DECEMBER 31, 2020

Paying yourself and employees? 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. Payroll Tax Filings: Forms That You Need.

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ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

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Inform Accounting

MARCH 15, 2023

In short, a P11D form allows you to inform HMRC of any benefits you’ve given to employees outside of payroll, so that the correct tax can be paid by your employees. In this blog we take a deeper dive into P11Ds, when they might arise, and what you need to do as a result. Why do you have a P11D?

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ThomsonReuters

OCTOBER 21, 2022

Director of Product Management at Ceridian, about her company’s global survey collaboration with national and global payroll associations that aims to chart what’s ahead for payroll professionals. . in partnership with the American Payroll Association (APA) and the Global Payroll Management Institute (GPMI).

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ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

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ThomsonReuters

FEBRUARY 28, 2024

Their response? Her firm is also staffed by four full-time employees and a few part-time positions that are outsourced. “I view the tax firm as my own Google experiment,” Shaul says. “I Clients were now offered bundled service packages which included quarterly or monthly financial statements and applicable payroll services.

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Basis 365

JUNE 29, 2023

In this blog, we'll explore the differences between a bookkeeper and a controller and help you determine which role(s) you need for your business. A bookkeeper is responsible for maintaining accurate and up-to-date financial records for a business. They may also manage payroll and prepare sales tax filings.

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ThomsonReuters

JUNE 22, 2021

As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. State by State Payroll Tax Changes. Fremont For small employers (25 or fewer employees), the minimum wage rate increases to $15.00 Berkeley The minimum wage increases to $16.32

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ThomsonReuters

MARCH 22, 2021

Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.

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ThomsonReuters

OCTOBER 21, 2022

Director of Product Management at Ceridian, about her company’s global survey collaboration with national and global payroll associations that aims to chart what’s ahead for payroll professionals. . in partnership with the American Payroll Association (APA) and the Global Payroll Management Institute (GPMI).

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ThomsonReuters

JULY 19, 2022

A new national research study that analyzed the impact of same-day pay showed that, among other things, over 60% of working Americans think that all employers should offer their employees immediate access to their daily earned wages. For example, in New Hampshire, employers must pay employees wages on a weekly or bi-weekly schedule.

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ThomsonReuters

JANUARY 4, 2024

Stress management for tax professionals is critical for avoiding burnout. It’s tax season and instead of a five-day workweek, your firm expects you to be in the office on Saturdays from 8 a.m. Consider everything that you do on a typical day during tax season and the rest of the year. Extended hours.

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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. Businesses use EINs for a variety of purposes, including opening business bank accounts, filing taxes, and hiring employees. Ease of Hiring Employees. appeared first on Synder blog.

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Ronika Khanna CPA,CA

MAY 5, 2024

Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax.

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Shay CPA

JANUARY 17, 2024

The beginning of a new calendar year means every business owner needs to put some thought into tax filings. Beyond filing for your own company, you also have fast-approaching responsibilities pertaining to your employee’s taxes and their ability to file. It’s that time of year again.

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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

FEBRUARY 8, 2022

1) Communicate clearly to win new tax clients. When you seek to win new tax clients, it’s best to start at the beginning. With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you.

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Inform Accounting

SEPTEMBER 23, 2022

The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. The Government was criticised in the lead up to today’s announcement for not allowing the Office for Budget Responsibility (OBR) to release forecasts with the mini budget. Corporation Tax.

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Nancy McClelland, LLC

AUGUST 21, 2023

There have been rumblings in the news for quite some time now about small businesses being required to provide retirement plans for their employees — but most owners seem to be turning a deaf ear, presuming that their small size exempts them from the requirement. Wave One began in 2018, and included employers with 500 or more employees.

Illinois 52

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Nancy McClelland, LLC

AUGUST 21, 2023

There have been rumblings in the news for quite some time now about small businesses being required to provide retirement plans for their employees — but most owners seem to be turning a deaf ear, presuming that their small size exempts them from the requirement. Wave One began in 2018, and included employers with 500 or more employees.

Illinois 52

Illinois Non-Profits payroll Start-ups 52

ThomsonReuters

SEPTEMBER 2, 2021

You should address this inquiry without delay, as a prompt and cordial response can establish a positive rapport with the investigator. The investigator may arrange to visit the plan sponsor’s offices and may request that additional documents be made available for review during the visit, such as payroll and claims processing records.

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ThomsonReuters

FEBRUARY 9, 2021

Under the Families First Coronavirus Response Act (FFCRA), certain employers were required to provide paid leave to workers who were unable to work or telework due to circumstances related to COVID-19 (Qualified Paid Leave). See regarding refundable tax credits. New Thomson Reuters COVID-19 Paid Leave Tax Credit tool.

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LyfeAccounting

JUNE 11, 2021

Well, it’s a thing because by paying yourself a very low salary in an S-Corporation, you are effectively lowering the amount of taxes you pay. And then, on the backend, you can pay yourself with distribution and not pay self-employment taxes because S-Corporations don’t have to pay them anyway. An S-Corporation is a tax entity.

Non-Profits 52

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ThomsonReuters

MAY 6, 2022

For small and mid-sized tax and accounting firms, there are plenty of ways to do so. Word-of-mouth referrals are a powerful thing for any business, but even more so in tax and accounting. Cross-sell tax and accounting services to existing customers. Avoid low-value tax and accounting services. Create a referral plan.

Tax 87

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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. Which is better, a C corp or S corp or LLC?

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ThomsonReuters

JANUARY 2, 2024

Requests for responses are due January 31, 2024. Checkpoint Payroll discussed these possibilities with Carrie Hoffman, Chair of Foley & Lardner’s Labor and Employment Practice, who shared her thoughts on the various components that PFML legislation may tackle. State PFML laws differ in their employer size requirements.

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LyfeAccounting

JULY 20, 2021

Additionally, if you plan to have employees you will need an EIN number to file your payroll taxes. But the biggest reason you need an EIN is to file your business taxes. You can simplify taxes. This is typically done online via your state’s specific tax portal. Budget for Taxes. Payroll Taxes.

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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. ” Accuracy of employee data Being hyper-focused on the accuracy of employee data is one of the most important components of a successful year-end. According to the U.S.

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LyfeAccounting

NOVEMBER 2, 2020

We’ve got an important post for you today, because we’re going to discuss whether you should pay your employees through as a contractor or as a regular wage. This is because selecting between these two options will determine your tax outcomes for both you and your employees. So i just want to take a moment to congratulate you.

payroll tax 52

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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.

Tax 52

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Snyder

JANUARY 8, 2023

For example, if you need to hire employees, then payroll and payroll tax expenses will add up, and so on. Some additional expenses your dropshipping business will incur: Dropshipping fees; E-commerce platforms fees; Sales taxes; Domain; Marketing campaigns. Start a blog. Dropshipping business model.

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ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. This notice informs the payer of its responsibility to begin backup withholding. Federal News. SAVE Act under review in House.

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