CPA Practice

AUGUST 19, 2023

The Internal Revenue Service will allow Hawaii taxpayers in Maui and Hawaii counties extra time – until February 15, 2024 – to file various federal individual and business tax returns and make tax payments that would have been normally been due before then. Quarterly estimated income tax payments normally due on Sept.

Hawaii

CPA Practice

MARCH 29, 2024

7, 2024, various tax-filing and tax-payment deadlines for individuals and businesses affected by the Aug. 8, 2023, wildfires in Hawaii. The previous federal tax relief, announced shortly after the fires, mainly lasted through Feb. 15 , which did not cover federal income tax filings for tax year 2023.

Hawaii

TaxConnex

MARCH 1, 2022

It’s that time of year again when everyone suddenly thinks about preparing their income taxes. But does tax preparation incur sales taxes – and if it does, where and how? Several states levy their sales tax or its equivalent on services, among them Hawaii (which has a general excise tax, or GET), and New Mexico.

South Dakota

TaxConnex

OCTOBER 5, 2021

Excise taxes vary widely from state to state, but in recent years states collecting the highest per-capita excise taxes include Vermont, Nevada, Hawaii, Minnesota, and Maryland. The lowest per-capita excise tax states have included South Carolina, Nebraska, Idaho, and Arizona.

Sales

CPA Practice

FEBRUARY 11, 2023

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.

Rhode Island

CPA Practice

APRIL 22, 2024

But bringing that amount home will require good deal more income, according to a recent analysis. The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes.

South Dakota

TaxConnex

FEBRUARY 23, 2023

West Virginia initiated the first official statewide sales tax, and during the Great Depression, 25 states introduced sales taxes to bolster tax coffers hammered by the bad economy. Mississippi introduced their sales tax in 1930, followed by many others (including Hawaii, which didn’t even become a state until 1959).

West Virginia

CPA Practice

APRIL 1, 2025

Residents of Hawaii are burdened by taxes the most, while Alaska residents have the lowest tax burden, a new WalletHub study found.

Hawaii

CPA Practice

OCTOBER 2, 2023

Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. 24, 2024, to file various individual and business tax returns. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software.

South Carolina

CPA Practice

OCTOBER 16, 2023

Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. 24, 2024, to file various individual and business tax returns. 16 and lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software.

South Carolina

TaxConnex

AUGUST 15, 2023

California has the highest statewide sales tax rate, at 7.25%. The lowest non-zero state-level sales tax is in Colorado, which has a rate of 2.9%. Five states follow with 4% rates: Alabama, Georgia, Hawaii, New York and Wyoming. South Dakota cut its state sales tax rate from 4.5%

Sales

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax

CPA Practice

APRIL 3, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island

CPA Practice

APRIL 12, 2023

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

Rhode Island

CPA Practice

APRIL 9, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? Top 10 States With The Highest Income. Oregon – 9.9%.

income tax

CPA Practice

OCTOBER 4, 2023

Massachusetts introduced a state-level wealth tax last year, and the legislatures in California , Connecticut , Hawaii , Illinois , Maryland , New York , Oregon and Washington have all seen wealth tax bills introduced this year. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

Tax

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.

payroll tax

Cherry Bekaert

AUGUST 10, 2023

The Alabama Department of Revenue will recognize elections timely made by eligible entities in the extension period as validly made by the due date for the 2022 tax year. Hawaii The Hawaii Department of Taxation issued Tax Information Release Notice 2023-01. Louisiana Louisiana House Bill No.

Alabama

TaxConnex

APRIL 18, 2023

WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in each state.

Sales

CPA Practice

OCTOBER 16, 2023

Taylor, Kiplinger Consumer News Service (TNS) Many Californians thought their taxes were due today (Oct. 16), but the IRS has further postponed tax deadlines for people in 58 counties impacted by natural disasters last winter. 16, 2023, to file their 2022 federal income tax returns and pay any tax due.

California

LyfeAccounting

JULY 22, 2021

The Top 10 Best Property Taxes by States. Not only is Hawaii the most popular travel destination in the country, but it also has the lowest property taxes. Now, Hawaii is one of the most beautiful places in the world, and this property tax rate is very affordable for homeowners. The median home value is $601,000.

South Carolina

LyfeAccounting

JULY 22, 2021

Top 10 States With The Lowest Property Taxes. Not only is Hawaii the most popular travel destination in the country, but it also has the lowest property taxes. Now, Hawaii is one of the most beautiful places in the world, and this property tax rate is very affordable for homeowners. So how is this even possible?

South Carolina

ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

South Dakota

CPA Practice

OCTOBER 23, 2024

Email (Required) Number of Employees at Your Firm (Required) Number of Employees at Your Firm Sole Proprietor 2 To 4 5 To 9 10 To 19 20 To 49 50 Or More Full Name (Required) State / Province (Required) State / Province Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas (..)

Rhode Island

CPA Practice

AUGUST 26, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve?

Rhode Island

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. And in 2013, the Additional Medicare tax (0.9%) on wages in excess of $200,000 took effect.

payroll

CPA Practice

SEPTEMBER 20, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces? million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces?

Rhode Island

CPA Practice

SEPTEMBER 3, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use? million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use?

Rhode Island

Anders CPA

MAY 15, 2023

Below we dive into the state and unemployment tax responsibilities employers need to know. It’s important to remember an out-of-state employee will be considered an employee in the state in which they work , not the state in which the business is based or in which the employee lives.

payroll tax

CPA Practice

JULY 19, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system? million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system?

Rhode Island

ThomsonReuters

OCTOBER 20, 2020

The results of the Checkpoint Catalyst Survey of States’ Approach to Temporary Telecommuting survey show that the business tax consequences of COVID-19 telecommuting for companies large and small are unclear in most states. At issue in these circumstances is the concept of a tax nexus , or connection, with the state.

South Dakota

CPA Practice

AUGUST 29, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The most expensive states for millionaires tax high earners at high rates. And if you fall into the top federal income tax bracket , the IRS will tax some of your earnings at the 37% rate.) The top income tax rate is 11%. 9% or higher).

income tax

CPA Practice

JANUARY 23, 2023

Grocery taxes that remain are “there for a reason. They’re needed as part of the revenue system, or because [elected officials] would rather cut other taxes,” such as the income tax, Auxier said. Tennessee, which dropped its grocery sales tax from 5% to 4% in 2017, lifted the tax for a month last August.

Idaho

ThomsonReuters

FEBRUARY 12, 2021

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.”. per hour to certain grocery store workers.

payroll

ThomsonReuters

FEBRUARY 9, 2022

Form SS-8 , Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding , can also be used to request a worker classification determination. This year in Hawaii, lawmakers have proposed an $18 minimum wage rate increase for all employees in the state by 2026.

payroll

CPA Practice

MARCH 8, 2023

Bay Staters with taxable income that exceeds one million dollars are expected to pay 4% more in Massachusetts income tax. Massachusetts recently returned billions in excess revenue to eligible residents through 62F tax refunds. Washington is a state that doesn’t have income taxes.)

Tax