Going Concern

AUGUST 8, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accounted accountant 57

VetCPA

APRIL 1, 2020

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. The Act is the third bill from Congress in response to the COVID-19 pandemic.

payroll tax 100

payroll tax Hospitality CPA cpa firm 100

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.

Tax 52

Tax Account accounted accountant 52

Shay CPA

FEBRUARY 22, 2023

If you’re not capitalizing on the federal research tax credit — commonly called the R&D tax credit — you could be missing out in a major way here. This credit lets you reduce your tax liability. In other words, there’s no double tax benefit here (unfortunately). That percentage can range from 3 to 16%.

Tax 52

Tax payroll tax payroll CPA 52

SkagitCountyTaxServices

SEPTEMBER 29, 2021

Is The Employee Retention Tax Credit Right For Your Skagit County Business? Late last year the Taxpayer Certainty and Disaster Tax Relief Act of 2020, following up on earlier relief laws, allowed the good folks at the IRS to give Skagit County employers like you a real tax break. How do you qualify? A lot, as it turns out.

Tax 80

Tax payroll payroll tax CPA 80

Going Concern

AUGUST 22, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs.

Real Estate 57

Real Estate Account accounted accountant 57

CPA Practice

MARCH 12, 2024

The Social Security Administration’s (SSA) trust fund reserves—which supplement the program’s income largely from payroll taxes—help SSA pay full benefits. But these reserves face a long-term shortfall that, if Congress does not act to shore up the funding, will result in about a 20% cut in benefits to beneficiaries in 2034.

payroll tax 52

payroll tax income tax Hospitality Washington 52

ThomsonReuters

MARCH 10, 2021

Provides that paid sick and paid family leave credits may each be increased by the employer’s share of Social Security tax (6.2%) and employer’s share of Medicare tax (1.45%) on qualified leave wages. “Applicable employment taxes” are defined as the employer’s share of Medicare or Tier 1 RRTA tax. .

payroll 105

payroll payroll tax Tax Non-Profits 105

KROST

JANUARY 15, 2021

Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. Eligible employers can receive a refundable payroll tax credit up to 70% of qualifying wages paid between January 1, 2021 and July 1, 2021. Eligible Employers. EIDL grants.

payroll tax 52

payroll tax payroll CPA Tax 52

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. On July 1, the minimum wage increases to $9.00 New Mexico.

payroll 72

payroll Virginia Utah West Virginia 72

LyfeAccounting

JANUARY 20, 2021

You had paid salaries and payroll taxes or paid independent contractors. Second, you can use your 2019 and 2020 annual tax returns to confirm the revenue reduction. times your average monthly payroll costs and healthcare costs or. $10 Restaurants and other hospitality businesses may have exceptions to these limits.

Non-Profits 52

Non-Profits payroll Healthcare Hospitality 52

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

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

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

CTP

AUGUST 10, 2023

Swarms of “ERC mills” have been making grand promises to taxpayers—but they provide very few details on how to ensure you actually qualify for this lucrative tax credit. So what do employers need to know about this tax credit? Tax-Exempt Organizations. What if your organization is tax-exempt? Self-Employed Taxpayers.

Tax 52

Tax payroll tax payroll tax return 52

CTP

AUGUST 10, 2023

Taxpayers have been pummeled by the same eye-catching ads all tax season: “ Get $26,000 per employee through the Employee Retention Credit! These “ERC mills” make grand promises but provide very few details on how to actually qualify for this lucrative tax credit. The ERC is a fully refundable tax credit.

payroll tax 95

payroll tax payroll Tax tax return 95

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?

income tax 40

income tax payroll tax 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 98

North Carolina accounting firms accounting and finance audit 98

PYMNTS

OCTOBER 22, 2018

According to the statement, “the acquisition will enable NCR to integrate a cloud-based payments platform into its enterprise point-of-sale solutions for retail and hospitality industries. JetPay ’s services include card acceptance, processing, payroll, payroll tax filing, human capital management services and other financial transactions.

Hospitality 54

Hospitality Pennsylvania payroll tax payroll 54

PYMNTS

DECEMBER 12, 2018

The move has enabled NCR to expand its portfolio for the retail and hospitality industries. JetPay ’s services include card acceptance, processing, payroll, payroll tax filing, human capital management services and more. It is headquartered in Atlanta, Ga., with 34,000 employees and does business in 180 countries.

Hospitality 46

Hospitality Pennsylvania payroll tax payroll 46

ThomsonReuters

AUGUST 16, 2021

hospitals). ” The Executive Order was issued on August 6, 2021 and says that these facilities include: nursing homes; residential care homes; assisted living services agencies; intermediate care facilities for individuals with intellectual disabilities; managed residential communities; and chronic disease hospitals.

Legal 52

Legal payroll Connecticut Virginia 52

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 234

Sales Tax Colorado South Dakota 234

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

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. State or local tax assessed on the compensation of employees. Retirement benefits.

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

PYMNTS

APRIL 21, 2020

The agreement also contains $75 billion for hospitals and $25 billion to fund a new coronavirus testing program. ” Trump also endorsed the measure in a tweet , writing: “I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing.

Hospitality 77

Hospitality payroll tax Entertainment Sports 77

PYMNTS

APRIL 21, 2020

The agreement also contains $75 billion for hospitals and $25 billion to fund a new coronavirus testing program. ” Trump also endorsed the measure in a tweet , writing: “I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing.

Hospitality 79

Hospitality payroll tax Entertainment Sports 79

PYMNTS

APRIL 21, 2020

The agreement also contains $75 billion for hospitals and $25 billion to fund a new coronavirus testing program. ” Trump also endorsed the measure in a tweet , writing: “I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing.

Hospitality 59

Hospitality payroll tax Entertainment Sports 59

Going Concern

AUGUST 23, 2024

Big News Tax Firm Carrying On Arthur Andersen Brand Explores IPO [ Wall Street Journal ] Do you know what’s really annoying? Andersen Global, the tax and legal services firm that emerged from the remnants of the defunct accounting giant rocked by the Enron scandal, is exploring taking its U.S. business public.

audit 104

audit CPA auditor North Carolina 104

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 98

Tax auditor audit tax return 98

CPA Practice

AUGUST 20, 2024

During this election, “no tax on tips” seems to be the phrase fitting that bill. Both presidential candidates are embracing the promise to exempt workers from paying taxes on their tips. After all, who doesn’t want a tax break when they can get it? The most typical tipped work is in the service and hospitality industry.

Tax 52

Tax income tax payroll tax payroll 52

CPA Practice

SEPTEMBER 3, 2024

Now, in a first for a presidential race, both major party candidates, former President Donald Trump and Vice President Kamala Harris, have put a spotlight on tipped workers with a pledge: No tax on tips. Under his plan, restaurant workers, barbers, caddies, movers, drivers and others would not be taxed on their tip income.

Nevada 111

Nevada Tax payroll tax income tax 111