Going Concern

AUGUST 28, 2023

Two Mississippi State University grads were recognized for getting the highest CPA exam scores in their state : Karis Pannel, of Tupleo’s Byrne Zizzi CPAs, received the MSCPA’s Fred T. Louis, Missouri-based branch of Deloitte, was awarded the T.E. Louis, Missouri-based branch of Deloitte, was awarded the T.E.

accounting firms 52

accounting firms CPA Account accountant 52

Withum

NOVEMBER 17, 2022

In recent years there have been significant changes to the State and Local Tax Nexus rules. The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. State and Local Tax Workarounds.

tax planning 52

tax planning Tax income tax CPA 52

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.

Tax 128

Tax Kansas income tax Montana 128

Anders CPA

AUGUST 22, 2023

This law provides an income tax credit for taxpayers who hire an intern or apprentice who is paid at or beyond the minimum wage. The DED will establish the procedure for claiming the tax credit and will certify eligible applicants to the Missouri Department of Revenue.

Missouri 52

Missouri Tax income tax CPA 52

Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, minimum wage is increasing in Missouri and Illinois. Social Security Tax Withholding For 2024, the Social Security tax wage base for employees will increase to $168,600.

payroll tax 52

payroll tax payroll Tax Missouri 52

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 111

Rhode Island Alaska Tax New Hampshire 111

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska Tax New Hampshire 105

Anders CPA

AUGUST 16, 2022

A 529 plan is a tax-advantaged savings plan which is aimed toward encouraging saving for primary and secondary education expenses. Many taxpayers wonder whether they can contribute to a state plan outside of the state they reside in, and the answer is yes, but it may affect your tax deductions. In-State or Out-of-state 529 Plan?

Missouri 91

Missouri Illinois Tax income tax 91

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.

Tax 111

Tax Missouri Oregon Connecticut 111

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. Inflation-adjusted per capita incomes in Utah have grown by about 8% since 2019. Incomes in Colorado, Maine, Montana and Nebraska also grew by roughly that much. Ned Lamont signed a tax cut bill in June.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

CPA Practice

JANUARY 23, 2023

By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. Grocery taxes that remain are “there for a reason. In 2021, about 13.5

Idaho 111

Idaho South Dakota Tax Kansas 111