ThomsonReuters

JUNE 7, 2023

From the middle of the bustling expo at PayrollOrg’s 41st Congress conference in Denver on May 17, Lisa Weckman, VP of Product at Ceridian, talked with Checkpoint Payroll Update about global payroll challenges facing the industry. The latter increases the complexity when an employer begins to operate in more countries.

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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. 115-97 ) of 2017 brought about significant changes to the U.S. tax system, including provisions affecting both individuals and businesses.

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Nancy McClelland, LLC

JANUARY 18, 2024

First off, as the company/ employer, I received an email from Gusto (though it incorrectly stated that these are client tasks, rather than firm tasks) stating that I need to distribute important payroll forms to recipients before the IRS deadline of January 31, 2024. Now, to try the W-2 form distribution.

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LyfeAccounting

NOVEMBER 17, 2020

I missed payroll tax filing deadlines that cost me thousands of dollars. Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. In this post, I’m going to fully explain the difference between payroll taxes and income taxes. With that said, let’s talk about taxes.

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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. taxes that both employee and employer pay.

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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

AUGUST 22, 2023

Global workforce strategy “The biggest thing in hiring and trying to attract the talent of a global workforce is ensuring you have an equitable strategy,” said Mariah Hantis, Director of Total Rewards at Deel, a payroll and compliance provider based in San Francisco, California. .”It’s

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ThomsonReuters

NOVEMBER 12, 2020

” The respect, and perquisites provided to veterans for their sacrifices to our country, have even touched the world of payroll, and on Veterans Day, we present a quick retrospective of some of the special tax provisions offered for veterans. Eisenhower subsequently issued a proclamation changing the day to honor all veterans.

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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

FEBRUARY 6, 2024

The reality is that there are various types of direct tax and understanding the differences is important in helping taxpayers stay in compliance and navigate the costs they may encounter. As noted earlier, there are various types of direct tax, which is where things can start to get complex. Jump to: What is direct tax?

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ThomsonReuters

DECEMBER 12, 2023

A partner at a global law firm recently urged businesses to follow the case law around paid military leave and the Uniformed Services Employment and Reemployment Rights Act (USERRA). Employers may also be required to provide pension benefits accruals during the military leave period. Army Reserves. He added that the U.S.

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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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Nancy McClelland, LLC

DECEMBER 28, 2022

As anyone who’s worked with me — clients, team members, colleagues, vendors — knows, I adore Gusto Payroll. They truly changed my life for the better (not to mention the lives of thousands of small business owners) when they decided to create a tech-forward payroll company that seamlessly syncs with QuickBooks Online.

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ThomsonReuters

APRIL 25, 2024

If your client receives retirement benefits in the form of pension or annuity payments from a qualified employer retirement plan, all or some portion of the amounts they receive may be taxable unless the payment is a qualified distribution from a designated Roth account. Convert to a Roth IRA. Consider pension and annuity payments.

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ThomsonReuters

MAY 3, 2023

Earned wage access According to the Treasury, employers and third-party payors increasingly allow employees to receive payment of earned wages before their regularly scheduled pay dates. In the payroll industry, such arrangements are generally referred to as earned wage access or EWA. A tax services director in Washington D.C.

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ThomsonReuters

MARCH 1, 2024

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). You may wonder how the S corporation taxation generally works. How are S corporations taxed?

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Ronika Khanna CPA,CA

MAY 5, 2024

To better understand this it helps to understand other transaction types that are not journal entries in Quickbooks Online : Sales transactions that are entered as invoices or payments of invoices Expense transactions that are entered through bills and payments of bills.

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Nancy McClelland, LLC

DECEMBER 29, 2022

The Illinois Workplace Transparency Act requires all employers to comply with the sexual harassment prevention training by December 31, 2020, and thereafter must provide annual training to all employees. per hour for employers with 4 to 20 workers, and $15.40 per hour for employers with 21 or more workers.

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ThomsonReuters

MARCH 30, 2023

ANSWER: Possibly, if you conclude that (1) there is “clear and convincing evidence” that your employee made a mistake; (2) the mistake is of a type that can be corrected; and (3) the correction is appropriate. Note that the correction may also involve correcting mistaken payroll withholding.) Can we do this under the IRS rules?

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Nancy McClelland, LLC

AUGUST 21, 2023

It’s a combination of legislation that requires most employers to offer a retirement plan to their employees — and a system that fills the gap for employers who do not currently offer retirement savings via payroll deductions. Wave One began in 2018, and included employers with 500 or more employees.

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Nancy McClelland, LLC

AUGUST 21, 2023

It’s a combination of legislation that requires most employers to offer a retirement plan to their employees — and a system that fills the gap for employers who do not currently offer retirement savings via payroll deductions. Wave One began in 2018, and included employers with 500 or more employees.

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ThomsonReuters

JANUARY 2, 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. Requests for responses are due January 31, 2024.

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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). New Thomson Reuters COVID-19 Paid Leave Tax Credit tool. Finally, the tool explains how the credits may be claimed.

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ThomsonReuters

MAY 20, 2021

How do we decide which type of employer contribution to make? The safe harbor minimum employer contributions can be either nonelective contributions or matching contributions, but the plan document must state which will be used. This alternative assures that all will receive a retirement benefit and is easy to explain.

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ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? Many entrepreneurs wonder what types of business ownerships are possible and how to determine which one is right for their business. What are the main types of business ownership? Which is better: a C corp, S corp, or LLC? What is a C corporation? What is an LLC?

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xendoo

AUGUST 24, 2021

Payroll , however, is most likely not their passion. In this blog post, we will walk you through paying yourself as a sole proprietor! . Be aware that sole proprietors are required to withhold self-employment taxes, which contribute to Social Security and Medicare. As of right now, the self-employment tax rate is 15.3%.

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Ronika Khanna CPA,CA

JUNE 30, 2023

I have addressed some of them in my blog posts on the factors to consider when choosing salary or dividends and the types of ways to structure your remuneration. Once you have the payroll numbers, you can either calculate your salary manually or employ a service to take care of the calculations and reporting on your behalf.

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Snyder

JUNE 13, 2022

EIN is an acronym for Employer Identification Number. That depends on the type of business you are running–if you’re a sole proprietor without any employees, then you’re not required to have an EIN. appeared first on Synder blog. What Is an EIN? Instead, you can use your social security number.

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LyfeAccounting

JUNE 11, 2021

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. S-Corporations became a popular tax status because you do not have to pay self-employment taxes on its earnings, so long as you pay yourself a reasonable salary.

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LyfeAccounting

JANUARY 20, 2021

Does my business type qualify? You had paid salaries and payroll taxes or paid independent contractors. The following business types are also eligible: Sole proprietors. Alright, so we know a fresh round of PPP funds, by the tune of billions, should be here at any moment. Are expenses deductible? …and the list goes on.

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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 Notice 2021-49]. The Employee Retention Credit is a refundable tax?credit ARPA also: .

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Cheap Accounting

AUGUST 31, 2023

Entering the world of self employment and being your own boss is extremely exciting. The one downside is dealing with the bureaucracy and regulation that running a business brings. Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Here’s a few tips to get you started.

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Ronika Khanna CPA,CA

APRIL 14, 2022

One of the types of income on which you pay income taxes is what Revenue Canada (CRA) refers to as “income from self-employment” that is essentially the same as income from a small business. Being a small business owner comes with challenges, not the least of which is doing your taxes.

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Mark Lee

MARCH 14, 2023

There are plenty of sole practitioners and smaller partnerships around who are hesitant about taking on even one employee, committing to paying an annual salary, starting to run their own payroll and becoming subject to employment laws. These go way beyond recruiting staff into full, or even part-time, employment roles.

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Ryan Lazanis

SEPTEMBER 1, 2023

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. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

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CPA Practice

JUNE 22, 2023

This article first appeared on the Patriot Software blog.] Opening communication channels that connect employers and employees in different branches can do a lot to boost morale. While the term can mean different things, quiet quitting generally refers to a pattern of employee behavior in which they stop trying their best at work.

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LyfeAccounting

FEBRUARY 4, 2021

?. Over the course of 2020, the rules related to PPP forgiveness application have changed. Some revisions have made the process easier for businesses with smaller loan amounts. The latest stimulus relief bill passed in December of 2020 had two provisions that could help people with smaller loan amounts. Basic PPP Rules. For loans of $50,000 or less.

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