CPA Practice

SEPTEMBER 12, 2023

Universities are exempt from paying taxes on that type of real estate revenue. Nonprofit hospitals are not exempt. Acknowledging it does provide medical education as a teaching hospital, the IRS position is that Mayo Clinic is a healthcare organization and is not primarily a school. c)2023 the Post-Bulletin.

Real Estate 95

Real Estate Tax Education Hospitality 95

ThomsonReuters

AUGUST 18, 2022

The IRS may need to revise certain employment tax reporting forms, and the forms used to claim the qualified small business payroll tax credit for increasing research activities, after President Biden signed the Inflation Reduction Act ( H.R. 5376 ) into law, which includes a provision increasing the research credit next year.

payroll tax 105

payroll tax payroll tax return income tax 105

KROST

SEPTEMBER 21, 2020

While there are many benefits of a remote workforce, businesses should take a step back and ask the following questions: Does the business have employees who reside and work remotely in other states, and if so, what are the state payroll tax implications? Do the remote employees create income tax nexus in other states?

Tax 40

Tax income tax payroll tax tax return 40

Going Concern

JULY 14, 2023

Prior to joining DLA, John served as a Partner with two National professional services firms, where he was the subject matter expert on business combinations, impairment analysis, income tax accounting, stock compensation, revenue recognition, and going concern analysis.

North Carolina 91

North Carolina accounting firms accounting and finance audit 91

ThomsonReuters

FEBRUARY 8, 2024

How are LLCs taxed? LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns.

Tax 52

Tax income tax payroll tax Healthcare 52

MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC). Fix and flip businesses, which renovate residential properties.

Tax 100

Tax CPA Education business tax 100

TaxConnex

JANUARY 4, 2024

National sales tax H.R.25 25 of the 118th Congress, the GOP’s “Fair Tax Act of 2023,” was this year’s attempt at finally creating a long-held dream of some: a national sales tax. The instantly embattled bill seeks a national sales tax on the use or consumption in the U.S. The IRS would be abolished.

Sales 232

Sales Tax Colorado Alaska 232

TaxConnex

MARCH 30, 2023

The embattled bill, now in committee, was introduced early this year to replace the federal income tax. What’s at stake for the revenue of states that already have their own sales tax? The provisions This bill imposes a national sales tax on the use or consumption in the U.S. What’s in the bill? The big view?

Sales 147

Sales Tax income tax Louisiana 147

ThomsonReuters

MARCH 15, 2023

.” ​ ​Certified professional employer organizations The budget includes a proposal that clearly states that a common law employer who may be utilizing the services of a certified or uncertified professional employer organization cannot avoid liability for employment and withholding tax when the CPEO or PEO fails to report or remit tax.

payroll tax 52

payroll tax payroll Tax Construction 52

KROST

JANUARY 11, 2021

Eligible entities (that meet other eligibility requirements) include hospitals owned by government entities, businesses that receive revenue from legal gaming, electric, telephone and housing cooperatives, and destination marketing organizations 3. Affiliation Rule Exceptions.

payroll 40

payroll Non-Profits Tax Real Estate 40

CPA Practice

MARCH 7, 2023

By Justin Sink and Josh Wingrove, Bloomberg News (TNS) President Joe Biden’s budget will propose hiking payroll taxes on Americans making over $400,000 per year and allowing the government new power to negotiate drug prices as part of an effort the White House says will extend the solvency of a key Medicare program for another quarter century.

Tax 98

Tax Hospitality payroll tax income tax 98

Going Concern

DECEMBER 23, 2022

That’s led to widespread strikes across the UK economy, encompassing railways, schools, nurses, hospitals and the postal service. Because robots can replace jobs, the idea goes, a stiff tax on them would give firms incentive to help retain workers, while also compensating for a dropoff in payroll taxes when robots are used.

Tax 86

Tax auditor audit tax return 86