Withum

NOVEMBER 16, 2022

The aftermath of a natural disaster can be devastating for all business owners, especially for those in the dealership , restaurant and hospitality industries, and can cause long-lasting interruptions in normal business operations. Federal and state business income tax returns for the last two years.

income tax 59

income tax tax return Hospitality payroll 59

SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

payroll tax 52

payroll tax payroll Tax income tax 52

CPA Practice

SEPTEMBER 11, 2023

million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. Nonprofit hospitals are not exempt.

Real Estate 115

Real Estate Tax Education Hospitality 115

SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

payroll tax 52

payroll tax payroll Tax income tax 52

CPA Practice

SEPTEMBER 12, 2023

million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. Nonprofit hospitals are not exempt.

Real Estate 95

Real Estate Tax Education Hospitality 95

MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

Tax 100

Tax CPA Education business tax 100

ThomsonReuters

FEBRUARY 8, 2024

Jump to: How are LLCs taxed? How can an LLC reduce its taxes? However, LLCs also enjoy certain tax advantages that make them popular, especially for small business owners. How are LLCs taxed? LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income.

Tax 52

Tax income tax payroll tax Healthcare 52

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. Social Security tax up to the annual taxable wage base ($147,000 in 2022).

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

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.

payroll 110

payroll New Jersey Florida Hawaii 110

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 87

North Carolina accounting firms accounting and finance audit 87

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 233

Sales Tax Colorado Alaska 233

TaxConnex

MARCH 30, 2023

Everything old is new again – and that goes for ideas of a national sales tax. 25 of the 118th Congress, the GOP’s “Fair Tax Act of 2023,” is the latest attempt. The embattled bill, now in committee, was introduced early this year to replace the federal income tax. What’s in the bill? Is the idea bad? The bill won’t pass.

Sales 147

Sales Tax income tax Louisiana 147

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. Some of the highest-income areas in the country, including Connecticut and the District of Columbia, were in the bottom 10 for income growth. The knocks to personal incomes affected state revenues.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

ThomsonReuters

MARCH 15, 2023

Payroll on Checkpoint asked  Jeffrey Paravano , partner at  BakerHostetler  and leader of the firm’s national tax practice group, to share his thoughts. ​ ​Extension of statute of limitations​ The IRS recently issued another alert to businesses and tax practitioners regarding scams related to the employee retention credit (ERC).

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. Calculate average monthly payroll costs (divide the amount from Step 2 by 12).

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. Should we tax robots? [ placed a tax on robots? The same applies to taxes on foreign trade that would also reduce U.S. KPMG announces Stuart Bedford as new UK Head of Law [ KPMG ]. MIT News ].

Tax 81

Tax auditor audit tax return 81