TaxConnex

JANUARY 4, 2024

Sales tax holidays are limited periods, frequently weeks or weekends, where a state allows sales tax to be eliminated or reduced on categories of consumer products, sometimes with conditions attached. In Florida, Mississippi and Tennessee, breaks depended on price limits of items. National sales tax H.R.25

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Sales Tax Colorado Alaska 232

ThomsonReuters

FEBRUARY 9, 2022

Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. The 2022 tax year version may include more states if the loans are not repaid. The guide also contains information on FUTA taxes.

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payroll California Connecticut Tax 98

CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan.

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Tax income tax tax return payroll 119

xendoo

JULY 15, 2022

Doing payroll may not be your favorite part of running a business. If you haven’t yet, the first step is to learn how to set up payroll. Not only do you have to calculate wages, but you must also account for employment taxes—income, Social Security and Medicare. How to Set Up Payroll.

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Withum

SEPTEMBER 1, 2023

On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. 46 of Florida’s 67 counties were mentioned in the News Release, but others have been added since then. 15, 2023, and Jan. 31, 2023, and Jan.

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Tax tax return Florida payroll 98

CPA Practice

OCTOBER 18, 2023

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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business tax Tax Alaska South Dakota 59

CPA Practice

SEPTEMBER 13, 2023

15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in Florida and South Carolina. The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief.

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Georgia South Carolina income tax tax return 105

CPA Practice

SEPTEMBER 12, 2023

Some state tax filing and payment deadlines have also been extended. The tax deadline extension for South Carolina follows several other storm-related tax extensions, including a Florida tax deadline extension following Hurricane Idalia. Estimated tax payments originally due between Sept. 31, 2023, and Jan.

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South Carolina Tax tax return income tax 64

ThomsonReuters

MARCH 22, 2021

So, why the brief history lesson on American Colony taxes? To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times. For payroll, in particular, there are a number of taxes. Is there interest on the late taxes? A number of those pages will directly affect payroll.

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payroll Tax Arkansas Texas 52

xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. 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.

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business tax Tax income tax payroll tax 52

CPA Practice

APRIL 17, 2023

And now, the results are in: IN-FIRM TECHNOLOGIES Federal/State Income Tax Preparation Insight : As was true in every year of voting, the tax prep system category is always the most voted-on, with nearly all respondents selecting a preferred system. We thank the more than 5,000 professionals who participated in voting this year.

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quickbooks payroll Technology audit 130

PYMNTS

SEPTEMBER 8, 2020

For example, in New York state, the top marginal income tax rate is nearly 9 percent, plus another 3 percent in New York City. Yet, in neighboring Connecticut, the top income tax rate is 7 percent. Other states, like Florida, may have no state income tax. Overcoming The Roadblocks.

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income tax payroll Connecticut Real Estate 68

inDinero Tax Tips

MARCH 13, 2023

An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. You can choose to become an employee of the S corp, be paid a reasonable salary, and incur payroll taxes on those wages.

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income tax Non-Profits payroll tax Tax 52

inDinero Tax Tips

MARCH 13, 2023

An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. You can choose to become an employee of the S corp, be paid a reasonable salary, and incur payroll taxes on those wages.

income tax 52

income tax Non-Profits payroll tax Tax 52

CPA Practice

JUNE 14, 2023

During a trip to Walt Disney World, a snowstorm in her homebase in Chicago gave her both an extra day in Florida and a new idea. Why not snowbird in Florida for the winter, and during this time scale back to only provide remote services to clients?

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Technology Florida bookkeeping AP Automation 119

CPA Practice

MARCH 21, 2023

Across the 10 Texas cities SmartAsset analyzed, a $100,000 salary was worth an average of about $78,000 after taxes and adjusting for cost of living. Texas, along with other low-tax states like Florida, has seen an influx of new residents as remote work grants greater freedom to move to places where paychecks stretch further.

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Tennessee Texas Florida Tax 116

PYMNTS

OCTOBER 28, 2019

The Supreme Court decision also appears to enable states to require businesses to file income taxes for revenue shares generated there. Merchants in San Francisco that surpass a certain threshold of gross receipts will face mandatory payroll expense taxes, and Texas is among the states to hit remote sellers with a franchise tax.

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South Dakota Retail Arizona income tax 42

ThomsonReuters

FEBRUARY 9, 2022

Part 1 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including worker classification, COVID-19 vaccine mandates, and wage and hour. Read part 2 for more 2022 payroll trends. It can result in costly penalties and the payment of back wages and taxes.

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payroll New Jersey Florida Hawaii 110

ThomsonReuters

APRIL 14, 2022

In November of 2021, Miami, Florida Mayor Francis Suarez responded to a tweet that asked who would be the first U.S. The IRS media relations representative explained on April 8, 2022 that the federal government does not currently accept virtual currencies for the payment of any federal taxes. employment taxes). Conclusion.

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New York Tax Illinois payroll 119

ThomsonReuters

FEBRUARY 12, 2021

Hello payroll professionals and welcome to the first edition of Last Week in PAYROLL. national wage rate – Florida even recently voted on a gradual $15.00 But one of the Service’s more anticipated annual publications was issued early last week – Publication 15 (Circular E) Employer’s Tax Guide. The Teleworking Issue.

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payroll income tax California Hawaii 95