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

JULY 1, 2022

In our last edition of the Certified Payroll Professional ( CPP ) Corner , we talked about the regular rate calculation for overtime purposes. We asked what item must be included in the regular rate of pay for the purposes of figuring the regular rate of pay for overtime purposes? Regular rate of pay for overtime. Previous question.

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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

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

JULY 1, 2022

In our last edition of the Certified Payroll Professional Corner (CPP), we talked about Form I-9 (Employment Eligibility Verification). What is that period of time?” You may wonder, isn’t this a human resources issue and not a payroll one? Last edition’s question. three days.” ” Form I-9.

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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. Payroll Guide ¶4264 Basic Principles. Payroll Guide ¶4268 Form 1099-MISC. Payroll Guide ¶4271 Form 1099-NEC. The post What’s Hot on Checkpoint for Payroll and Benefits Professionals?

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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. 500 ÷ 70.35% = $710.73.

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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

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

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

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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ThomsonReuters

APRIL 18, 2024

With 75% of employers in the Americas forecasting that the average employee will be a hybrid worker within two years, employers should carefully consider the tax implications of such arrangements where the employee may be working in one state in-office and remotely in another state at home. This may pose significant issues.

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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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Shay CPA

JUNE 7, 2023

And, of course, you can’t forget about how your layoffs impact your books and payroll. And if you’re in this boat, you should know what it means for your books and your payroll. Before you dismiss it altogether, though, think through what offering even a month or two of pay could do for your overall company.

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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

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. This article first appeared on the Patriot Software blog.] New W-4 form 2023: Changes So, what’s new with the 2023 W-4 form?

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CPA Practice

NOVEMBER 14, 2023

Features include automated bank feeds, bank reconciliation, financial statements, 1099 tracking, and a seamless transition to tax preparation. New discounts and benefits for full-service accounting firms that also use Intuit ProConnect Tax. At this year’s QuickBooks Connect conference in Las Vegas, Nov.

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Xero

MARCH 13, 2024

Evaluate your business expenses You may be able to claim business expenses in your tax return to reduce the total tax you need to pay. Take advantage of credits Depending on your business, you could be eligible for credits that can lower your tax bill. You may want to seek advice on what you could be eligible for.

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ThomsonReuters

JULY 25, 2023

Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes? In simple terms, an overpayment on taxes is paying more than what is owed.

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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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ThomsonReuters

NOVEMBER 27, 2023

But how do you tax the value of a noncash fringe benefit? The ALV is determined according to a table as provided in IRS regulations (see Payroll Guide ¶3580 ). If the employer provides fuel in addition to the car, the value of the fuel must also be reported in addition to the value of the vehicle for federal income tax purposes.

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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

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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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

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. Unfortunately, there are downsides as well.

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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

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

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

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. What is software depreciation? How is software depreciated for tax purposes? Can software be amortized?

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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.

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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

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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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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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. What is a Bookkeeper? They may also manage payroll and prepare sales tax filings. What is a Controller? Bookkeeper vs. Controller: What's the Difference?

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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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