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Payroll Tax News Updates: April 2024

CPA Practice

Now a district court in Pennsylvania has determined that he isn’t a responsible person (Powell, Civil Action No. A part-time bookkeeper at Urgent Care who was paid an hourly rate handled the company payroll. But the manager wasn’t aware of the company’s failure to pay employment taxes on time. 20-1656, W.D.-PA, PA, 3/29/24).

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Decoding the Difference: Tax Planning vs. Advisory

CPA Practice

By Al-Nesha Jones, CPA, MBA. Al-Nesha Jones, CPA, MBA, is founder of ASE Group, a full-service accounting, tax, and advisory firm focused on empowering small business owners to build strong and sustainable businesses. She was recognized as a 2021 CPA Practice Advisor “40 Under 40” Professional. Tis the season!

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

In Alaska, New Jersey, and Pennsylvania, both employers and employees contribute to the fund, with the employee’s portion of SUI deducted from their paychecks. In Kentucky, employers are required to withhold an Occupational Tax from employees’ wages. In all but three states, only employers contribute to SUI.

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Tax Tips for Accountants With Gambling Clients

CPA Practice

With over a decade specializing in gambling taxes, this Las Vegas CPA has worked with everyone from professional poker players to casual sports bettors. Some states, like New Jersey and Pennsylvania, allow the netting of wins and losses to arrive at taxable gambling income for recreational gamblers.

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10 Ways to Help Gen X Clients Prepare for Retirement

CPA Practice

By Al-Nesha Jones, CPA, MBA Generation X—aka the Sandwich Generation, Latchkey Kids, Baby Busters, and even the Forgotten Generation—will soon be approaching retirement age. She was recognized as a 2021 CPA Practice Advisor “40 Under 40” Professional. Follow Al-Nesha on Twitter @AlNeshaJ_CPA.