CPA Practice

JULY 12, 2023

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SIT Tax?

income tax 98

income tax Tax South Dakota Alaska 98

MyIRSRelief

MAY 15, 2024

Understanding the Importance of Maintaining Tax-Exempt Status One of the primary concerns for any nonprofit is maintaining its tax-exempt status under IRC Section 501(c)(3). This status exempts nonprofits from federal income tax on their earnings related to their exempt purpose. Q: My nonprofit is tax-exempt.

Tax 130

Tax payroll tax payroll tax preparation 130

CPA Practice

JANUARY 31, 2024

Here’s how: If you’re careful and follow IRS rules, you can lower your taxable income by deducting their wages and some benefits from your business income. Employed children do have to pay income taxes, regardless of their age, but each child’s income will be tax-free up to his or her standard deduction of $14,600 in 2024).

Tax 127

Tax income tax Texas tax return 127

xendoo

JANUARY 16, 2023

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

business tax 52

business tax Tax income tax payroll tax 52