Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The lack of state income tax extensions for victims of Hurricane Ian may require additional compliance procedures to avoid penalties.

Government 124

Government income tax tax return Florida 124

CPA Practice

OCTOBER 16, 2023

Taxpayers affected by recent natural disasters including those impacted by the recent Maui fires and hurricane Idalia in parts of Florida, South Carolina and Georgia. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. This list continues to be updated regularly.

South Carolina 111

South Carolina Georgia income tax Vermont 111

CPA Practice

FEBRUARY 11, 2023

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. Other payments Other payments that may have been made by states are generally includable in income for federal income tax purposes.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

JUNE 29, 2023

Taylor, Kiplinger Consumer News Service (TNS) The IRS, after confusing millions of California taxpayers with tax balance-due notices in May and June, will send follow-up letters to people in states that received extra time to file their federal income tax returns due to severe weather events. 16, 2023 to file.

income tax 111

income tax Mississippi tax return Arkansas 111

CPA Practice

MAY 8, 2023

Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year. Tennessee, Texas, and Florida are among the most commonly moved-to states, and it just so happens that these states don’t tax income.

New York 125

New York California North Carolina South Carolina 125

CPA Practice

APRIL 9, 2024

These taxes fund social insurance programs such as Social Security, Medicare, and unemployment benefits. Here’s a quick breakdown of payroll taxes: Federal Income Tax Withholding : Employers must withhold federal income tax from employees’ wages based on their W-4 Forms and Internal Revenue Service (IRS) guidelines.

payroll tax 110

payroll tax West Virginia payroll cpas 110

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.

Tax 119

Tax income tax tax return payroll 119

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

OCTOBER 11, 2023

Mark Anthony Gyetvay, a former CPA in Naples, Florida, has been sentenced to 86 months in prison for a scheme to hide millions of dollars of income in undisclosed Swiss bank accounts and submitting a false filing to the IRS. Additionally, and despite being a CPA, Gyetvay did not file personal tax returns for 2013 and 2014.

Tax 105

Tax Florida tax return CPA 105

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.

Tax 98

Tax tax return Florida payroll 98

CPA Practice

SEPTEMBER 13, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept.

Georgia 105

Georgia South Carolina income tax tax return 105

CPA Practice

JANUARY 29, 2024

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. That sort of virtual hand-holding is similar to what you’d get by using commercial tax preparation software.

tax preparation 105

tax preparation tax return South Dakota Arizona 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. Taxpayers who were granted an original tax deadline extension of Oct.

South Carolina 64

South Carolina Tax tax return income tax 64

CPA Practice

APRIL 1, 2024

tax system is not just a matter of modernizing government systems—it’s a matter of justice. That is why it is so exciting that millions of eligible taxpayers across the country, including in my home state of Florida, now have an easy, free and secure option this year through the IRS’s new Direct File pilot program. Improving the U.S.

tax preparation 52

tax preparation Florida Non-Profits income tax 52

inDinero Tax Tips

MARCH 2, 2023

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket. Do You have to pay taxes on cryptocurrency gains?

Tax 98

Tax income tax South Dakota tax return 98

Anders CPA

MAY 23, 2023

Be aware that misclassifying an employee as an independent contractor with no reasonable basis for doing so can result in stiff punishment, including being held liable for employment taxes for that worker without the ability to access relief provisions. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

inDinero Tax Tips

MARCH 2, 2023

That means you must disclose any cryptocurrency trading activity conducted over the past year on your tax return. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket. Do You have to pay taxes on cryptocurrency gains?

Tax 52

Tax income tax South Dakota tax return 52

Snyder

FEBRUARY 12, 2023

What is a payroll tax? How to calculate payroll taxes Federal Insurance Contributions Act (FICA) Federal Unemployment Taxes (FUTA) State Unemployment Taxes (SUTA) Income taxes Voluntary payroll deductions 3. Payroll tax process steps 4. To learn more about income taxes check our blog → Click here.

payroll tax 52

payroll tax payroll Tax income tax 52

ThomsonReuters

DECEMBER 7, 2022

As we know, governments collect taxes to fuel economic growth and fund investments in infrastructure, human capital, as well as the provision of services for individuals and businesses. This also extends to the income an individual receives after their death, which is subject to income tax. What is fiduciary tax?

Tax 59

Tax North Carolina income tax tax return 59

inDinero Tax Tips

MARCH 13, 2023

If you receive $200,000 as an S corp employee, you’ll only pay payroll taxes on what you decide is a reasonable salary, say $120,000. The remaining $80,000 will be subject to income tax but not Social Security. For instance, in states like Florida, you will not pay state income tax on profits earned through an S corp.

income tax 52

income tax Non-Profits payroll tax Tax 52

inDinero Tax Tips

MARCH 13, 2023

If you receive $200,000 as an S corp employee, you’ll only pay payroll taxes on what you decide is a reasonable salary, say $120,000. The remaining $80,000 will be subject to income tax but not Social Security. For instance, in states like Florida, you will not pay state income tax on profits earned through an S corp.

income tax 52

income tax Non-Profits payroll tax Tax 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

ThomsonReuters

FEBRUARY 9, 2022

In part 1 of my blogpost on 2022 payroll trends , I was recalling a recent weekend getaway from Hoboken, New Jersey to Miami Beach, Florida and how prevalent payroll is in our day-to-day lives. Topics around payroll are just about everywhere. Ever hear the story about how U.S. Luckily, he had NASA for assistance.

payroll 98

payroll California Connecticut Tax 98

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.

quickbooks 130

quickbooks payroll Technology audit 130

ThomsonReuters

MARCH 22, 2021

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. Then, there’s how to pay and file these taxes. Using sales tax to fund unemployment trust fund. The extended due date is now June 15, 2021.

payroll 52

payroll Tax Arkansas Texas 52

Going Concern

FEBRUARY 26, 2024

Aaaaand now there’s one less tax preparer in Florida to handle the load. Price and his tax return preparation business, Price’s Accounting Firm Inc., from preparing federal income tax returns for others. Price and his tax return preparation business, Price’s Accounting Firm Inc.,

audit 57

audit Mississippi auditor tax return 57

ThomsonReuters

JUNE 15, 2022

These legislative highlights have been grouped into two categories: new opportunities for tax relief and new tax obligations. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. The tax credit is referred to as a “relief rebate.” Florida Sales Tax Holiday.

Rhode Island 105

Rhode Island Delaware Oklahoma Tax 105

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

business tax Tax income tax payroll tax 52

Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada.

tax planning 98

tax planning Tax Construction income tax 98

TaxConnex

MARCH 2, 2021

In one of the biggest developments, the two remaining states with a sales tax that don’t require online (or otherwise remote) businesses to collect and remit tax – Florida and Missouri – may be inching toward instituting post- Wayfair nexus requirements and sales tax obligations. 20 and April 14 to April 15, 2021.

Sales 230

Sales Tax Missouri Wisconsin 230

CPA Practice

MARCH 12, 2024

After several weeks of testing , the IRS said on Tuesday that eligible taxpayers in 12 states can now use its new Direct File service to submit their tax returns online for free directly with the agency. million in Florida, and 1.1 This includes 5.2 million in California, 3.8 million in Texas, 2.8 million in New York, 2.4

South Dakota 108

South Dakota income tax tax return Arizona 108

ThomsonReuters

FEBRUARY 12, 2021

national wage rate – Florida even recently voted on a gradual $15.00 The aim is to: “address potential problems remote workers are facing during the COVID-19 pandemic, including the possibility of having their state income taxes become out of balance because they worked from home in a different state than their ordinary place of employment.”.

payroll 95

payroll income tax California Hawaii 95