RogerRossmeisl

SEPTEMBER 18, 2022

When you filed your federal tax return this year, were you surprised to find you owed money? Receiving a tax refund essentially means you’re giving the government an interest-free loan. The post Is Your Income Tax Withholding Adequate?

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RogerRossmeisl

JUNE 15, 2021

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Net Investment Income Tax appeared first on Roger Rossmeisl, CPA. Individual Tax Briefs 3.8%

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RogerRossmeisl

JULY 16, 2022

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs.

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RogerRossmeisl

SEPTEMBER 25, 2022

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. But now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs.

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Accounting Today

SEPTEMBER 1, 2022

Income taxes Tax State taxes Bitcoin Tax evasion

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RogerRossmeisl

NOVEMBER 27, 2020

Many Americans receive disability income. if, and how is disability income taxed? As is often the case with tax questions, the answer is … it depends. If the income is paid directly to you by your employer, it’s taxable to you as ordinary salary would be.

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DMCL

MARCH 11, 2022

Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported.

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CPA Practice

MARCH 21, 2022

Crowdfunding organizers and any person receiving amounts from crowdfunding should keep complete and accurate records of all facts and circumstances surrounding the fundraising and disposition of funds for at least three years.

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TaxConnex

MARCH 18, 2021

Wayfair created enormous changes for businesses making remote sales into the states related to sales tax. Could Wayfair have also impacted the way you manage your state income tax obligations? Sales Tax Perspective. Sales tax nexus can be physical or economic – or both.

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MyIRSRelief

APRIL 1, 2022

Amending and or correcting a US individual 1040 income tax return (1040X), there are many reasons to do so: correcting filing status of the taxpayers, which if not corrected, would result in incorrect total income reported, tax deductions and tax credits. Tax liability. Tax Credits. Other taxes, local, state, etc. Amending your 1040 tax return to 1040X when situations occur where one spouse may want to file early, and the other does not.

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Anders CPA

APRIL 26, 2022

Owning rental real estate can be a great supplemental source of income in addition to a normal day job. What is most commonly misunderstood about this type of investment is how an individual can treat the income and or losses for tax purposes.

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CPA Practice

JUNE 30, 2022

Although Wayfair was strictly a sales tax case, states have also begun to assert economic nexus for income tax purposes. Unlike sales tax, currently only a handful of states have established thresholds for income and franchise tax purposes, including.

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Accounting Today

SEPTEMBER 21, 2022

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Dent Moses

JULY 19, 2022

Governor Ivey recently signed Senate Bill 261 into law, which increases the tax credit for contributions made to Scholarship Granting Organizations (“SGO”). Prior to the 2022 amendment, the credit was limited to 50% of the taxpayer’s Alabama tax liability with a cap of $50,000.

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KROST

JULY 19, 2022

Foreign nationals in the US: Do you have a federal income tax filing obligation? Now that you moved to the US, whether on a temporary basis or permanent, you may need to consider whether you have a US income tax return filing requirement and pay taxes in the US.

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Accounting Today

AUGUST 10, 2022

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AUGUST 10, 2022

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Accounting Today

JUNE 1, 2022

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Accounting Today

SEPTEMBER 22, 2022

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CPA Practice

JANUARY 31, 2022

The deadline for most Americans to file their federal tax returns in 2022 is April 18, instead of the usual April 15 date. Most states that have their own income tax reporting. This is because of a holiday recognized in the nation's capital.

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Accounting Today

JULY 28, 2022

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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. What is income tax? How does income tax work?

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Accounting Today

JULY 14, 2022

Income taxes IRS Tax Charles Rettig AICPA

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ThomsonReuters

OCTOBER 1, 2021

A new episode of Thomson Reuters Tax & Tech Talks podcast shares tips and best practices for streamlining operations and navigating this unprecedented tax season. Beneficial tax technology features and functions.

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Accounting Today

JULY 14, 2022

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Accounting Today

AUGUST 26, 2022

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xendoo

DECEMBER 14, 2020

They offer several ways to pay your tax online. Tax Return or Notice. 1040, 1040A, 1040EZ, health care Form 1040, retirement plan 5329 or tax-favored account 5329. Estimated Tax 1040ES. Proposed Tax Assessment. Electronic Federal Tax Payment System.

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Accounting Today

JULY 13, 2022

Income taxes Investments New York Tax

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RogerRossmeisl

SEPTEMBER 25, 2022

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you.

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Accounting Today

JUNE 21, 2022

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Accounting Today

JUNE 13, 2022

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Accounting Today

MAY 12, 2022

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Accounting Today

AUGUST 15, 2022

Income taxes Tax returns IRS Tax Charles Rettig

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Xero

AUGUST 11, 2022

Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). You will need to use this UTR number to submit tax returns, pay tax bills, or work with an accountant.

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CPA Practice

MARCH 30, 2022

The IRS doesn't have the ability to scan paper-based tax returns directly into their systems. The data must be manually typed, a tedious process that causes logjams in processing tax returns.

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Accounting Today

MAY 12, 2022

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CPA Practice

JANUARY 31, 2022

While returns are usually due April 15, this year that day falls on a Friday District of Columbia holiday, postponing the deadline to April 18 for most. Taxpayers in Maine and Massachusetts have until April 19 thanks to the Patriots’ Day holiday in.

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ThomsonReuters

SEPTEMBER 2, 2021

What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. How provision for tax is calculated. Current income tax expense.

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Accounting Today

MAY 18, 2022

Income taxes Identity verification IRS Tax FTC

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Accounting Today

JULY 11, 2022

Income taxes State tax revenues Tax Debt Fitch

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Withum

MARCH 31, 2021

The top income tax rates have varied from 2% to 94% since the first United States income tax was instituted in 1862. Right now the top rate is 37%.

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Withum

JANUARY 19, 2022

Governor Murphy signed into law a bipartisan bill (S4068) that enhances the state’s electable pass-through entity (PTE) tax, known as the New Jersey Business Alternative Income Tax (BAIT) on January 18, 2022. State and Local Tax Services.

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Dent Moses

FEBRUARY 24, 2022

This legislation, when signed, will effectively exempt from state income taxes certain federal benefits that taxpayers received from the American Rescue Plan Act last year, a coronavirus relief bill passed by Congress.

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