ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional (CPP) Corner, we talked about taxable and nontaxble fringe benefits. Payroll conference guidance on fringe benefits. Payroll Guide ¶3540 discusses fringe benefits. Payroll Guide ¶3585 discusses qualified transportation fringe benefits. Supreme overtime ruling.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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ThomsonReuters

NOVEMBER 27, 2023

As the holidays approach, many employers plan on paying out bonuses, incentives, or other supplemental wages to employees that may have unexpected tax and compliance implications. Payroll Guide ¶ 4100 et seq. Whichever option you choose will have different tax and compliance implications.

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ThomsonReuters

NOVEMBER 8, 2022

Who needs to know : Payroll professionals, payroll departments, tax departments, third-party payroll providers. Users with an existing FIRE Transmitter Control Code (TCC) will not be able to use that TCC for the IRIS. An IRIS TCC is required to use the new portal. Payroll Guide ¶4264 Basic Principles.

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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? What are the differences between CPI-U and CPI-W?

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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. 100% – 29.65% (7.65% + 22%, the federal tax withholding rate for bonuses) = 70.35%. Gross ups. Previous question.

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Inform Accounting

NOVEMBER 28, 2022

With all of the U-turns on tax policy in the last couple of months, businesses may be confused about what changes are going ahead and which ones have been scrapped by the new chancellor. If the end-user organisation is also the fee-payer, they will need to deduct and pay Income Tax and National Insurance contributions to HMRC.

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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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Going Concern

JUNE 9, 2023

” payroll snafu in which everyone’s paychecks were reversed without warning was almost a whole year ago, can you believe that? A worker in Spain wondered whether the bonus of $20,000 euros she received would be taxed. Not mentioned: preventing several gigabytes of frustrated employee emails.

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CPA Practice

FEBRUARY 15, 2023

You may not file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax.

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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. in many areas, including human resources and payroll. “If you just look at the U.S.,

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CPA Practice

NOVEMBER 14, 2023

Accounting professionals are our most valued partner; QuickBooks Connect allows us to foster deeper relationships with them so we can work better together to empower and fuel small business success,” said Jeremy Sulzmann, vice president of the Partners Segment Business for Accountants at Intuit QuickBooks. Learn more about QuickBooks Ledger.

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Xero

MARCH 13, 2024

If you’re using Xero, you can find more helpful information in our handy guide for getting ready for financial year end. Save time on sending invoices and reminders in the new year by using an accounting software that does it for you. If you’re using Xero, there’s apps in the Xero App Store that can help with this too.

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ThomsonReuters

NOVEMBER 27, 2023

It’s a great perk when an employer provides a company car that a worker can also use during non-work hours. But how do you tax the value of a noncash fringe benefit? There are four methods to calculate personal use of a company car (PUCC): General valuation method. Step 4: Determine the percentage of personal use.

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LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. As a business owner, understanding how to navigate taxes can be extremely overwhelming. To start, I didn’t know what forms I needed to fill-out. With that said, let’s talk about taxes.

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Xero

JUNE 8, 2023

So if you’re looking to do the same (and tackle tax time while you’re at it), below are a few simple tips to consider ahead of the ‘23 year-end. Hire a tax pro to save yourself time and money Every small business owner needs a helping hand at tax time – especially retailers – who are notorious for wearing many hats.

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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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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

AUGUST 25, 2023

Jump to: What is software depreciation? How is software depreciated for tax purposes? However, when it comes to software tax depreciation, the complexities can quickly add up. Looking ahead, the survey found that most small businesses plan to continue making investments in their use of technology.

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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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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

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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ThomsonReuters

DECEMBER 6, 2023

James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC can be traced back to before the health emergency and the absence of tax preparer oversight. “Tax preparation is kind of the Wild West,” Creech began.

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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. ” I clicked on “Create packet”, and nothing happened.

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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. What benefits need to be declared on the 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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payroll Tax Technology payroll tax 40

Xero

JULY 20, 2022

And between rostering, payroll, recruitment, onboarding and the myriad of other ‘hats’ a small business owner wears, it can be incredibly stressful. We believe we can play a really critical role in using the power of technology to support employers, and in doing so, play a role in stabilising the economy and contributing to GDP.

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ThomsonReuters

MARCH 6, 2024

So, what are users searching for this tax season? According to our most recent analysis, some of the most searched terms within Checkpoint Edge are tax credits, Employee Retention Credit (ERC) , and the Inflation Reduction Act (IRA). However, Form 941-X may currently only be submitted by paper, increasing processing times.

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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? The developer’s application would then use the response and display it accordingly.

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ThomsonReuters

FEBRUARY 28, 2024

No matter what the culture of the firm is, you will be successful, the professor said. 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 She also hated having to deliver “bad news” when her clients owed money.

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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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5 Minute Bookkeeping

MARCH 25, 2021

As an accounting professional, you may have been trained to use journal entries liberally (I know I was), but in QBO there are some situations where journal entries help, and some where they can really mess up the books ! The key is knowing which is which and what goes on inside QBO when you create journal entries to make corrections.

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ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What is the IRS Form 941?

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ThomsonReuters

SEPTEMBER 22, 2023

used in the hiring process under Title VII of the Civil Rights Act of 1964 (see Payroll Guide ¶20,450 ). According to the EEOC, employers are using automated systems (including those with A.I.) 2023, A7859 ) have pending legislation regarding the use of automated tools in hiring decisions. tools for hiring workers.

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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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ThomsonReuters

APRIL 26, 2022

Tax and accounting firms of all sizes need dependable systems and procedures to deliver the best value to their clients. 4 key steps to evaluate and improve your firm’s tax and accounting software. 4 key steps to evaluate and improve your firm’s tax and accounting software. Comfort level with technology.

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ThomsonReuters

JANUARY 4, 2024

Automate what you can 3. Stress management for tax professionals is critical for avoiding burnout. 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. Jump to: 1.

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