Snyder
JUNE 9, 2022
For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.
CPA Practice
AUGUST 21, 2023
By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Look for more states to follow suit. _
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CPA Practice
FEBRUARY 11, 2023
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. Other payments Other payments that may have been made by states are generally includable in income for federal income tax purposes.
CPA Practice
APRIL 12, 2023
million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?
Anders CPA
MAY 23, 2023
Be aware that misclassifying an employee as an independent contractor with no reasonable basis for doing so can result in stiff punishment, including being held liable for employment taxes for that worker without the ability to access relief provisions. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.
ThomsonReuters
JULY 7, 2021
Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. And in 2013, the Additional Medicare tax (0.9%) on wages in excess of $200,000 took effect.
SingleTrackAccounting
FEBRUARY 7, 2020
This is in addition to income tax. Luckily for Alley, there’s an easy way to reduce or eliminate this tax. 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.
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