CPA Practice

APRIL 9, 2024

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. for paying state unemployment tax. By Nellie Akalp.

payroll tax 110

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CPA Practice

JULY 12, 2023

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SIT Tax?

income tax 98

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CPA Practice

FEBRUARY 6, 2024

The volume of tax returns prepared by most CPAs means that they are not going to notice if something is missing. Here are the most common tax forms you, our clients, are receiving: 1098: These are some of the earliest to arrive. A common exception to the income tax statement above is a direct rollover.

Tax 111

Tax income tax tax return tax preparation 111

CPA Practice

OCTOBER 5, 2023

As in the strategy above, you may have a tax valley in your retirement years that allows you to sell some of those winners without paying taxes. Most people understand that we have different income tax brackets. Most people don’t know that we have different capital gains tax brackets. ABOUT THE AUTHOR Evan T.

Tax 111

Tax income tax tax planning accounting and finance 111

CPA Practice

JUNE 10, 2024

The IRS is focused on partnerships that don’t pay corporate income taxes. Tiered partnerships, or those that own another one, can provide a way of hiding income. If you don’t want to have to represent yourself, there are attorneys and CPAs who specialize in tax-controversy work.

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audit Real Estate Tax income tax 72

CPA Practice

JUNE 11, 2024

The IRS is focused on partnerships that don’t pay corporate income taxes. Tiered partnerships, or those that own another one, can provide a way of hiding income. If you don’t want to have to represent yourself, there are attorneys and CPAs who specialize in tax-controversy work.

audit 52

audit Real Estate Tax income tax 52

xendoo

JANUARY 16, 2023

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

business tax 52

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