KROST

NOVEMBER 20, 2020

Senate Bill 1447 was enacted on September 9, 2020, to offer new credit called Small Business Hiring Tax Credit to qualified California small business employers who can use it to offset state income tax or sales and use taxes. So Sum Lee, CPA , Principal. Tax , Real Estate , Technology , Hospitality.

California 83

California Tax Real Estate income tax 83

RitaKeller

OCTOBER 15, 2020

“This isn’t a hospital! Substitute the word firm for hospital. For many CPA firms, you are down to the wire on extended individual income tax returns and all of the activity that surrounds that huge event. It’s an insane asylum! And it’s your fault!” – – Sally Kellerman (Hot Lips) in MASH (1970).

Hospitality 40

Hospitality income tax cpa firm tax return 40

Going Concern

APRIL 5, 2024

CPA licensure program off to ‘promising’ start [ Journal of Accountancy ] 38 people huh? The Experience, Learn & Earn (ELE) program, a pilot program designed to help accounting graduates earn required academic credits for CPA licensure, has received early positive reviews.

auditor 84

auditor audit Oklahoma CPA 84

CPA Practice

MAY 3, 2024

All outstanding taxes for gross income, gross rental, or gross rental proceeds received for furnishing the property as a Hawaii short-term rental must be paid. However, the income tax exemption was struck. To discover more, read the lodging tax changes chapter of the Avalara Tax Changes 2024 report.

Hawaii 105

Hawaii Tax income tax Agriculture 105

KROST

DECEMBER 16, 2021

California recently passed Assembly Bill 150 (AB 150), which allows qualified entities to pay tax on the income from an S Corporation, or partnership (reported to you on a K-1). The tax paid would result in a credit that you may use to offset the tax due on your California individual income tax return.

Tax 52

Tax Real Estate California tax return 52

CPA Practice

APRIL 25, 2024

A closer look shows that several trends emerged and contributed to the volatility and complexity of tracking and complying with indirect taxes in 2023. Generally, around 100 new district taxes are enacted each year to fund fire protection, emergency services, hospitals and other services.

Sales 52

Sales Tax Minnesota Tennessee 52

CPA Practice

APRIL 22, 2024

A closer look shows that several trends emerged and contributed to the volatility and complexity of tracking and complying with indirect taxes in 2023. Generally, around 100 new district taxes are enacted each year to fund fire protection, emergency services, hospitals and other services.

Sales 52

Sales Tax Minnesota Tennessee 52

CPA Practice

MARCH 12, 2024

The proposal seeks to extend the life of the Medicare Hospital Insurance (HI) Trust Fund permanently by increasing the Medicare tax rate on income above $400,000, closing what the administration says are loopholes in existing Medicare taxes, and directing revenue from the net investment income tax into the HI trust fund “as was originally intended.”

payroll tax 52

payroll tax income tax Hospitality Washington 52

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D.

North Carolina 52

North Carolina Account accountant accounted 52

SkagitCountyTaxServices

NOVEMBER 9, 2022

As a reminder, employers, employees, and self-employed workers have to deal with two taxes from the Federal Insurance Contributions Act (FICA): Social Security (aka the old age, survivors, and disability insurance taxes), and Medicare (the “hospital insurance” tax). What’s “Medicare mismatch?” This applies to that 0.9%

payroll tax 52

payroll tax payroll Tax income tax 52

Snyder

FEBRUARY 12, 2023

What is a payroll tax? How to calculate payroll taxes Federal Insurance Contributions Act (FICA) Federal Unemployment Taxes (FUTA) State Unemployment Taxes (SUTA) Income taxes Voluntary payroll deductions 3. Payroll tax process steps 4. The self-employment tax rate is 15.3%. Contents: 1.

payroll tax 52

payroll tax payroll Tax income tax 52

KROST

SEPTEMBER 21, 2020

While there are many benefits of a remote workforce, businesses should take a step back and ask the following questions: Does the business have employees who reside and work remotely in other states, and if so, what are the state payroll tax implications? Do the remote employees create income tax nexus in other states?

Tax 40

Tax income tax payroll tax tax return 40

SkagitCountyTaxServices

NOVEMBER 9, 2022

As a reminder, employers, employees, and self-employed workers have to deal with two taxes from the Federal Insurance Contributions Act (FICA): Social Security (aka the old age, survivors, and disability insurance taxes), and Medicare (the “hospital insurance” tax). What’s “Medicare mismatch?” This applies to that 0.9%

payroll tax 52

payroll tax payroll Tax income tax 52

CPA Practice

FEBRUARY 8, 2023

Collectively, the professionals joining Andersen deepen the firm’s expertise serving high net worth individuals, families, and businesses across a range of industries, including real estate, manufacturing, construction, professional services, hospitality, entertainment, technology, retail, financial planning, and agriculture.

Real Estate 52

Real Estate Agriculture Iowa income tax 52

SkagitCountyTaxServices

AUGUST 19, 2022

Miscellaneous business tax deductions – but still valuable. You can generally deduct premiums for some insurance for your business: fire, theft, flood, or similar; insurance that covers losses from bad debts; group hospitalization and medical insurance for employees; liability and malpractice insurance; and some workers’ comp.

business tax 81

business tax Tax Real Estate CPA 81

KROST

AUGUST 6, 2021

AB150 allows for qualified partnerships, limited liability companies and S-Corporations to pay a new elective state pass-through entity (PTE) tax at the entity level and receive a federal tax deduction for state taxes paid on the electing owner’s share of allocable taxable income. David Troost, CPA, Senior Manager.

California 52

California Tax tax return Real Estate 52

MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC). Child and Dependent Care Credit.

Tax 100

Tax CPA Education business tax 100

KROST

MAY 19, 2022

Tax Long-Term Capital Gains at the Ordinary Income Rate. Under current tax law, long-term capital gains and qualified dividends are taxed at a maximum income tax rate of 20%. This means that the tax rate for such gain can go up to 37% or potentially to 39.6% So Sum Lee, CPA , Principal.

Real Estate 52

Real Estate Non-Profits Tax CPA 52

Going Concern

MAY 6, 2022

ICYMI | Exploring the Gender Gap [ The CPA Journal ] Previous research has established that women suffer from the impacts of the “gender gap” in the middle to late stages of their career. The authors posit that one significant factor driving the gender gap in the accounting profession originates with the Uniform CPA Examination.

auditor 52

auditor audit CPA Real Estate 52

Going Concern

JULY 14, 2023

Prior to joining DLA, John served as a Partner with two National professional services firms, where he was the subject matter expert on business combinations, impairment analysis, income tax accounting, stock compensation, revenue recognition, and going concern analysis.

North Carolina 91

North Carolina accounting firms accounting and finance audit 91

CPA Practice

MARCH 2, 2023

While the Democrats hold a 51-49 majority in the Senate this term, two senators are currently hospitalized, therefore Democratic leadership may delay a vote until their full body is available.

Management Consulting 72

Management Consulting Hospitality Finance Tax 72

CPA Practice

NOVEMBER 1, 2023

“Moreover, some of the income for high-income workers is often dependent on the stock market performance, which declined in 2022.” The knocks to personal incomes affected state revenues. In Connecticut, personal income tax revenue took a $1.3 Ned Lamont signed a tax cut bill in June. Democratic Gov.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52