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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Filing tax returns and remitting payments on time.

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Finally, SUI tax rates tend to change from calendar year to calendar year and can rise or fall depending on the economy and the state’s unemployment fund status. Some states require employers to pay additional payroll taxes. Some states have a progressive tax rate based on salary, while others charge a flat SIT rate.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

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Understanding your entity type and requirements is the first step toward filing your taxes accurately and efficiently. Tax laws are constantly changing, and it can be challenging to keep up with the latest revisions. A professional tax advisor or CPA can accurately file your business taxes on time.