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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. for paying state unemployment tax. By Nellie Akalp.

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An Employer’s Guide to Multi-State Payroll Tax Withholding for Remote Workers

Anders CPA

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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Payroll Taxes for an Employer: How Is Payroll Tax Calculated?

Snyder

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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Milestones for S Corporation Election

CPA Practice

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. For businesses structured as corporations, being an S Corp can help them avoid paying taxes at the corporate and shareholder levels.

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Steve Padgett’s Three Business Tax Penalties To Avoid When Possible

SkagitCountyTaxServices

With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. Teach me and I remember.

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Last Week in Payroll: Keeping Up with Taxes

ThomsonReuters

To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times. For payroll, in particular, there are a number of taxes. Then, there’s how to pay and file these taxes. This applies to the quarterly payroll tax returns (Form 941) normally due on April 30, 2021.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax.