Shay CPA

JUNE 7, 2023

And, of course, you can’t forget about how your layoffs impact your books and payroll. And if you’re in this boat, you should know what it means for your books and your payroll. As we reviewed in a recent blog, having an employee in another state establishes a tax nexus for your company there.

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inDinero Tax Tips

DECEMBER 13, 2022

The R&D tax credit, formally known as the Credit for Increasing Research Activities, represents a significant opportunity for innovative businesses to reduce their federal tax liability. Could your business be eligible for this tax credit? Do You Have a Federal Tax Liability? Are You Working Through Experimentation?

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Tax payroll tax income tax tax return 75

CPA Practice

OCTOBER 18, 2023

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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business tax Tax Alaska South Dakota 59

Going Concern

AUGUST 12, 2022

A man in Connecticut is accused of taking $373,201 in PPP loans to fund a phony accounting firm : Eric James O’Neil, 57, was arrested Aug. He submitted a payroll log showing 22 employees and their salaries, as well as quarterly tax and corporate income tax forms. The purported tax forms were never filed with the IRS.

Idaho 57

Idaho Connecticut Tax income tax 57

CPA Practice

JANUARY 11, 2024

Top 60 accounting firm Prager Metis has expanded its presence in North Carolina by combining with Asheville-based Goldsmith Molis & Gray, a full-service tax, accounting, payroll, and consulting firm. offices in California, Connecticut, Florida, Massachusetts, Nevada, New Jersey, New York, and Virginia. 1, weren’t disclosed.

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CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

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ThomsonReuters

FEBRUARY 7, 2022

A new year brings minimum wage increases in 21 states while Connecticut and Florida will increase their minimum wage rates later in the year. Connecticut. It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . per hour; $9.54 per hour for tipped workers

Rhode Island 92

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PYMNTS

SEPTEMBER 8, 2020

The tax situation can also improve for individuals and their employers alike as workers move to leafier, suburban locales. For example, in New York state, the top marginal income tax rate is nearly 9 percent, plus another 3 percent in New York City. Yet, in neighboring Connecticut, the top income tax rate is 7 percent.

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income tax payroll Connecticut Real Estate 68

CPA Practice

MAY 11, 2023

Connecticut Total Number of Accounting Jobs Available: 2,078 Total Number of Finance Jobs Available: 1,532 Accounting and Finance Average Salary: $101,000 Average World University Rankings Accounting and Finance Score: 31.40 Finance Career Score /10: 6.94 Finance Career Score /10: 6.88 Distributed by Tribune Content Agency LLC

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Account accountant accounted accounting and finance 104

ThomsonReuters

FEBRUARY 7, 2022

California, Connecticut, the District of Columbia, Massachusetts, New Jersey, New York, Rhode Island, and Washington have Paid Family and Medical Leave Insurance (PFMLI) programs with employers and/or employees contributing to the fund. The program would be funded by 2% payroll tax, 1% paid by the employer, 1% paid by the employee ( L.

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ThomsonReuters

MARCH 3, 2022

In 2021 alone, legal battles and legislation in Pennsylvania, California, and Connecticut directly addressed student-athlete compensation and worker classification. NCAA Student-Athlete Worker Classification Battle Heats Up appeared first on Tax & Accounting Blog Posts by Thomson Reuters. A case in the U.S.

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Connecticut Pennsylvania California Non-Profits 52

ThomsonReuters

MARCH 15, 2021

March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the income tax filing deadline. Now, let’s take a look at this past week in payroll and go over a few of the more interesting stories buzzing about in the industry. IRS tax tip on repayment of deferred Social Security taxes.

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payroll Connecticut Massachusetts income tax 98

ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. Tax Planning and Advisory Guide—Health Care Reform—premium tax credit expansion) The SECURE 2.0

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Tax income tax tax planning payroll 52

ThomsonReuters

JUNE 10, 2021

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Biden Administration issues tax proposals “Green Book.” Connecticut Governor Ned Lamont has announced the Back to Work CT Program. Also, 12 U.S. Department of Labor enforcement.

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payroll Vermont Tax Connecticut 98

ThomsonReuters

JUNE 21, 2021

Repaying Deferred Social Security Taxes . In addition, a Presidential Memorandum signed on August 8, 2020, allowed employers to defer the employee’s share of Social Security tax from September 1, 2020 through the end of tax year 2020. . credit for employer FICA tax paid with respect to employee cash tips.

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payroll Tax Missouri Massachusetts 52

PYMNTS

NOVEMBER 23, 2016

Payroll data, too, showed a promising environment, with a spike among small businesses witnessed in October. the Upper Plains region — saw a spike in small business bankruptcy rates, while Connecticut saw the largest increase in this metric in the third quarter. Geographically speaking, the middle of the U.S. —

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Oregon Connecticut Transportation payroll 53

ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Now let’s go over some federal and state payroll stories from the past week. This includes withholding taxes.

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payroll income tax California North Dakota 52

ThomsonReuters

MARCH 8, 2021

Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. Unemployment tax rate rollback. Federal News. Senate passes $1.9

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ThomsonReuters

JANUARY 24, 2022

Connecticut. The Connecticut Department of Labor did not respond to our request. Impact on employer’s account: Claims related to refusal of an employer’s vaccine mandate will impact employer contributions to the trust fund and experience ratings when determining yearly tax rates. .

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Rhode Island West Virginia South Dakota Maryland 119

ThomsonReuters

APRIL 26, 2022

Connecticut Requirements for Renewable Energy Employers. The Act established an Energy Transition Economic Development Assistance Fund that helps employers to qualify for tax relief for hiring displaced workers. Checkpoint Edge will continue to report on the latest payroll developments as legislation progresses. .

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payroll Vermont Rhode Island Hawaii 95

ThomsonReuters

AUGUST 16, 2021

Connecticut. . Connecticut also has an Executive Order for a mask mandate. In addition, please reach out to a sales or service specialist at Thomson Reuters Checkpoint for information on how our products can help you navigate through payroll tax and non-tax topics.

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Legal payroll Connecticut Virginia 52

CPA Practice

FEBRUARY 7, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted Maine tax relief to areas of the state impacted by severe storms late last year. Affected taxpayers now have extended tax deadlines of June 17, 2024, to file certain tax returns and make tax payments. 17, 2023, through June 17, 2024.

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Maine Rhode Island Tax tax return 52

ThomsonReuters

OCTOBER 6, 2021

State income tax is a direct tax on business income you’ve earned in a state. Each state gets to decide what matters most — your payroll, property, or sales — and in what ratio to account for them. This can make calculating state income tax complex, particularly if you do business in multiple states.

income tax 52

income tax Tax payroll Massachusetts 52

CPA Practice

AUGUST 31, 2023

Toss on the tax savings : Quantify for your client how increased pre-tax retirement contributions (401(k) and/or IRA) could decrease their overall tax liability. You can use a tool such as Intuit Tax Advisor to calculate the impact quickly and easily, and present it in an easy-to-understand format.

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quickbooks bookkeeping course Tax CPA 59

ThomsonReuters

MAY 3, 2021

Funding for the American Families Plan, including paid leave, would be offset by tax increases on Americans making over $400,000 per year and the elimination of lower tax rates on capital gains and dividends. . Connecticut. Connecticut. State of the states. California. California. State of the states.

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Rhode Island Hawaii Oregon Connecticut 52

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. Some of the highest-income areas in the country, including Connecticut and the District of Columbia, were in the bottom 10 for income growth. Connecticut fell to No. Connecticut fell to No.

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North Dakota South Dakota Utah Connecticut 52

PYMNTS

DECEMBER 12, 2018

It’s also about providing payroll services for employees. At the end of the day you still end up with a record-keeping system that can’t pass audit for tax and regulatory purposes,” he said. As noted in this space earlier in the year, roughly $5 billion in taxes was handled — via cash — last year. without resorting to cash.

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Legal Connecticut payroll Tax 68

ThomsonReuters

JULY 29, 2021

Now let’s go over some of the more important payroll stories from the past week. Mr. Paul said that the IRS initiated a greater reliance on issuing FAQs after the signing into law of the Tax Cuts and Jobs Act (TCJA) and again regarding the relief measures in response to the coronavirus (COVID-19) pandemic. Federal News.

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