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5 States with the Lowest Combined Business Taxes

CPA Practice

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. House Bill 1104 looks to postpone implementation of the program for one year.

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Avoid the Pitfalls of DIY Accounting

SingleTrackAccounting

You could spend several hours, perhaps days navigating PPP loans, running payroll, and filing taxes even if you were organized. As a busy business owner, this is the last thing you want to be spending your precious time doing. Payroll Mistakes. Business Processes. You could be doing anything else.

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5 Tax Saving Strategies for Small Businesses

SingleTrackAccounting

Carrying health insurance is still mandatory under the Affordable Care Act and most small business owners can deduct health insurance related expenses for themselves and their employees on their business tax return. Example: Alley, a small business owner, contributes $15,000 per year to her SEP IRA retirement account.

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The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

Business Tax Professionals. The tax rules and regulations U.S. Three COVID-19 relief bills enacted in 2020 had wide-ranging tax implications for companies, Oaks noted—the CARES Act, the Families First Coronavirus Response Act, and the Paycheck Protection Program Flexibility Act.