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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. Employers are still accountable for withholding federal income taxes in the eight states that don’t collect state income tax (Wyoming, Washington, Texas, Tennessee, South Dakota, Nevada, Florida, and Alaska).

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How to Expand a Business to Another State

CPA Practice

Since the Supreme Court ruling on the South Dakota v. Nellie and her team recently launched a partner program for accountants, bookkeepers, CPAs, and other professionals to help streamline their clients’ business incorporation and compliance process. Is There Nexus? More info at: CorpNet.com/partners.

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Plus, currently, nine states do not levy a state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, although Washington does impose a state capital gains tax. Some states have a progressive tax rate based on salary, while others charge a flat SIT rate.

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SMB Tax Complexity Preserves Role For The Human Accountant

PYMNTS

While doing so may be more cost-effective than hiring a big-time accounting and consulting firm, there are inevitable points in the accounting process that cannot be managed with automated software alone, meaning small business owners must take on the burden of figuring out complex processes that even CPAs can struggle to manage.

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

Sioux Falls CPA firm marks century in business [ SiouxFalls.Business ] The fourth-generation Sioux Falls firm Nelson & Nelson CPAs celebrates 100 years in business, providing tax, accounting, payroll and bookkeeping services. Nelson & Nelson CPAs is the oldest existing accounting firm established in South Dakota.

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COVID-19 and the Wayfair impact on CPA advisory

ThomsonReuters

They’re going to do so under these economic nexus laws, which was what we were seeing with the Wayfair case with South Dakota’s economic nexus law. A company like Wayfair, obviously with internet sales, had no physical presence whatsoever in the state of South Dakota,” added Shaun.

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

xendoo

Xendoo’s bookkeepers and CPAs are familiar with tracking and remitting sales tax for all types of businesses, including ecommerce. Alaska Florida Nevada South Dakota Tennessee (on wages) Texas Washington (state) Wyoming Even though some states don’t have an income tax, they may have other taxes. Xendoo is an all-in-one service.