ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Let’s take a look at some commonly asked questions on retirement income taxes and how your firm can best advise clients as they approach their retirement years.

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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. The self-employment tax rate is 15.3%. Contents: 1.

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RitaKeller

OCTOBER 15, 2020

“This isn’t a hospital! Substitute the word firm for hospital. For many CPA firms, you are down to the wire on extended individual income tax returns and all of the activity that surrounds that huge event. It’s an insane asylum! And it’s your fault!” – – Sally Kellerman (Hot Lips) in MASH (1970).

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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.

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income tax tax return Hospitality payroll 59

Withum

NOVEMBER 8, 2023

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.

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payroll income tax tax return Hospitality 52

Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D.

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KROST

DECEMBER 16, 2021

If you are a shareholder of an S Corporation, partner/member of a partnership/LLC, you might be able to get some of your state tax deduction back. As you may remember, the federal Tax Cuts and Jobs Act reduced the amount of the SALT deduction individuals can claim on their federal tax return to $10,000 starting with the 2018 tax year.

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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?

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KROST

AUGUST 6, 2021

The electing owners are then granted a credit against their California personal income tax for the full amount of the tax paid by the entity on their allocable share of California taxable income. The tax for electing owners is 9.3% Tax , Hospitality Industry. For most PTEs this will be March 15, 2022.

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Withum

NOVEMBER 18, 2022

While in previous taxable years, not-for-profits were limited to capturing these cash benefits directly unless they had unrelated business income tax (“UBIT”), under the IRA, all not-for-profits are incentivized to invest in clean energy infrastructure through the direct payment program regardless of tax liability.

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ThomsonReuters

MARCH 15, 2023

Also, he clarified that the statutes of limitation relating to employment tax returns do not restart for purposes of IRS assessment when an amended return is filed. 3401(d)  purposes and be liable for the federal employment and income tax withholding. 31, 2025 the Work Opportunity Tax Credit under  Code Sec.

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ThomsonReuters

FEBRUARY 8, 2024

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.

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SkagitCountyTaxServices

NOVEMBER 9, 2022

As a reminder, employers, employees, and self-employed workers have to deal with two taxes from the Federal Insurance Contributions Act (FICA): Social Security (aka the old age, survivors, and disability insurance taxes), and Medicare (the “hospital insurance” tax). What if my employees make tips? This applies to that 0.9%

payroll tax 52

payroll tax payroll Tax income tax 52

SkagitCountyTaxServices

NOVEMBER 9, 2022

As a reminder, employers, employees, and self-employed workers have to deal with two taxes from the Federal Insurance Contributions Act (FICA): Social Security (aka the old age, survivors, and disability insurance taxes), and Medicare (the “hospital insurance” tax). What if my employees make tips? This applies to that 0.9%

payroll tax 52

payroll tax payroll Tax income tax 52

ThomsonReuters

JUNE 22, 2021

Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments. New Mexico. per hour. .

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Going Concern

APRIL 5, 2024

EY Blood Donation Blockchain Pilot ‘Healthcare Breakthrough’ [ Healthcare Digital Magazine ] An estimated one in 10 people attending hospital every day will require some kind of blood transfusion.

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auditor audit Oklahoma CPA 84

LyfeAccounting

JANUARY 5, 2021

But Section 501(c)(3) of the IRS rules clarifies this in detail and examples of qualified entities include: religious organizations, charities like Goodwill and the salvation Army, nonprofit schools, hospitals and volunteer fire departments, and public parks. How Do You Claim Tax Deductible Donations? …to name a few.

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LyfeAccounting

MARCH 10, 2021

5 Things You Should Know About Tax Penalties. Common IRS Tax Penalties and How You Get Penalized. Failing to file a tax return on time. Well, the deadline for filing your federal income tax return and paying any tax you OWE is April 15th (or usually the next business day if April 15th falls on a weekend).

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Going Concern

DECEMBER 23, 2022

That’s led to widespread strikes across the UK economy, encompassing railways, schools, nurses, hospitals and the postal service. Trump tax controversy fuels passage of presidential audits bill [ POLITICO ]. KPMG announces Stuart Bedford as new UK Head of Law [ KPMG ].

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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). Small-business tax credits.

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xendoo

NOVEMBER 23, 2020

Are you claiming all the income tax deductions you’re entitled to? Out-of-pocket medical expenses, such as doctor and hospital fees, in-home care, and medications, can be deducted on your 2018 return if they exceed 7.5% of your adjusted gross income. Here’s a handy checklist for U.S. Home Office.

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