SingleTrackAccounting

FEBRUARY 7, 2020

We are starting down the third year of the Tax Cuts and Jobs Act and tax savings are all around us. Every year the standard tax brackets increase with inflation. Here’s a breakdown of the 2020 tax brackets. . Here are 5 tax saving strategies for small businesses. You would end up paying $1,530 in taxes.

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SingleTrackAccounting

FEBRUARY 11, 2020

All is good in the entrepreneur hood until the tax man comes around in April. Self Employment tax on the entire amount on your 1099 …. on top of your regular income tax! Most self-employed people only find out about this nightmare situation after they file tax returns with 1099s and are then hit with the tax bill.

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ThomsonReuters

FEBRUARY 9, 2022

Typically, when an employer needs to terminate an employment relationship with workers, the employer’s unemployment tax rate for the following year may increase. If a state does not repay these loans within around two years, the Federal Unemployment Tax Act (FUTA) tax credit for employers in those states is reduced.

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CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

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TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.

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PYMNTS

JANUARY 8, 2018

Credit Karma said yes to early tax refunds for consumers – for free. Good Tax Lending Karma. Good news for consumers avidly awaiting their tax refund for 2018: Credit Karma Tax is rolling out a new product call Earlybird Advance, an online refund advance service. And that was just Tuesday.

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ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

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CPA Practice

MAY 1, 2024

Of course, this decision has its critics, but it’s worth noting that the change would also impact federal income tax breaks for many cannabis businesses. Cannabis rescheduling 280E tax Lessening federal regulations concerning marijuana could reduce the tax burden on cannabis businesses.

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Going Concern

APRIL 5, 2024

KPMG Envisions AI as Part of Every Job in Its Global Workforce [ Bloomberg Tax ] KPMG partners who lead the firm’s global AI strategy are pursuing a quest to weave generative AI into all aspects of the organization’s work and touch every corner of its global network. million in 2023 while generating total revenues of $4.1

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