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

CPA Practice

Finally, some states and cities require employers to withhold special taxes for supplemental wages, such as bonuses and commissions. Compliance and Reporting Ensuring compliance with payroll tax regulations involves timely and accurate reporting to various tax authorities. Filing tax returns and remitting payments on time.

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Sales tax and accounting services

TaxConnex

Tax preparers are generally accredited individuals – certified public accountant (CPA) and enrolled agent (EA) are two common preparer designations – who have completed previous and ongoing education to understand compliance for varied tax purposes. In the case of an individual, their primary address determines the tax.

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Accounting Thought Leaders Discuss the Real Impact of AI on Accounting Firms

CPA Practice

We’ve just taken a lot of these paper-based processes and digitized them, but still have to do the same work.” “ Generative AI has the potential to give us the productivity boost we’ve been looking for, especially in audit and tax.” ~ Blake Oliver, CPA. I’m mostly tax, bookkeeping and accounting, and don’t do much A&A work.