Anders CPA

JANUARY 7, 2025

In 2025, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, the minimum wage is increasing in Missouri and Illinois. Social Security Tax Withholding For 2025, the Social Security tax wage base for employees will increase to $176,100.

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Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, minimum wage is increasing in Missouri and Illinois. Social Security Tax Withholding For 2024, the Social Security tax wage base for employees will increase to $168,600.

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payroll tax payroll Missouri Tax 52

Cherry Bekaert

JANUARY 22, 2024

Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. tax returns for the 2022 tax year.

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inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware offers perhaps the most favorable tax treatment to businesses. Historically, in the U.S.,

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inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. To compete for business tax income with New Jersey and New York, Delaware made incorporating within its borders easier for absentee (aka out-of-state) companies and incentivized absentee companies to do so.

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Withum

NOVEMBER 17, 2022

The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. Although many businesses might be subject to nexus, with proper planning, income tax burdens can be alleviated or reduced with sales-sourcing analysis.

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ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

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ThomsonReuters

FEBRUARY 12, 2021

The aim is to: “address potential problems remote workers are facing during the COVID-19 pandemic, including the possibility of having their state income taxes become out of balance because they worked from home in a different state than their ordinary place of employment.”.

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Going Concern

AUGUST 28, 2023

Louis, Missouri-based branch of Deloitte, was awarded the T.E. 2022 state income tax refund might be coming. Then he answered, “ We’re understaffed and we had a lot of income tax returns last year.” I guess the feds don’t get many tax returns, or maybe just ones that don’t require refunds.

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CPA Practice

OCTOBER 21, 2024

As a contractor for the federal government, he stole President Donald Trump’s tax returns—so sought after that they were locked up in a vault for protection—and leaked them to The New York Times. To some progressive readers, the details raised questions about a possible wealth tax.

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