Withum

SEPTEMBER 1, 2023

The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief. Quarterly estimated income tax payments normally due on Sept. Quarterly payroll and excise tax returns normally due on Oct. 15, 2023, and Jan.

Tax 98

Tax tax return Florida payroll 98

CPA Practice

JANUARY 29, 2024

Filing electronically reduces tax return errors as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. Taxpayers with income of $79,000 or less last year – and that’s most taxpayers – can use IRS Free File Guided Tax Software now through Oct 15.

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Withum

JANUARY 12, 2023

Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023. Contact Us. Let’s Chat.

California 122

California Tax tax return payroll tax 122

Withum

FEBRUARY 27, 2023

Affected individuals and businesses will have until October 16, 2023, to file returns and pay any taxes, including 2022 individual income tax returns due on April 18 and various 2022 business returns normally due on March 15 and April 18, 2023. What Items Are Now Extended Until October 16, 2023?

California 119

California tax return Nevada payroll 119

Withum

NOVEMBER 28, 2023

Perhaps to a low-tax or no-tax state? If so, you are not alone, and here are some of the things you should be considering for income tax purposes. For employer-based plans, tax deductibility also can be maximized through payroll but is often overlooked.

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MyIRSRelief

JANUARY 3, 2022

With tax season coming up fast, our thoughts will soon be turning to our books and accounts, as we look to get all of our taxes in order so as to appease the wrath of the tax man. If you’re a small business owner, you will likely already be aware that employment 941 payroll trust fund taxes can cause monumental headaches.

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ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. Small businesses often have very limited staff, which means the owner or one of the employees is in charge of payroll. Bookkeeping.

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Withum

FEBRUARY 6, 2023

ISOs offer many tax benefits, making them an attractive option for employees who wish to partake in the future growth of their employer’s stock. Tax Benefits of ISOs One of the many benefits of ISOs is the deferral of income tax until they are exercised. net investment income tax).

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inDinero Tax Tips

JUNE 12, 2023

Fringe Benefits The most straightforward practice is to amend your payroll reports and recategorize the commingled purchase as fringe benefit compensation. The IRS’s Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as a “form of payment for the performance of services.”

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xendoo

AUGUST 2, 2023

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. An S corp is a tax classification.

Tax 52

Tax income tax tax return Non-Profits 52

xendoo

AUGUST 2, 2023

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. An S corp is a tax classification.

Tax 52

Tax income tax tax return Non-Profits 52

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. Economic nexus presents risk and opportunity for service providers. Income tax apportionment. State payroll withholding.

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Withum

SEPTEMBER 15, 2023

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021. appeared first on Withum.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. There is still no wage base limit for Medicare tax.

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inDinero Tax Tips

MARCH 17, 2023

It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. There is still no wage base limit for Medicare tax.

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xendoo

JANUARY 6, 2022

Instead of playing phone tag with your finance professional over missing documents, you can work with an online accountant who will determine the tax deductions you qualify for and file your taxes on your behalf, so you can get back to what you love – growing your business! . Pay Self-Employment Tax.

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LyfeAccounting

JULY 20, 2021

Additionally, if you plan to have employees you will need an EIN number to file your payroll taxes. But the biggest reason you need an EIN is to file your business taxes. In most states, you will need to register to pay state-specific business taxes, including income taxes, employment taxes, and sales taxes.

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Withum

MARCH 3, 2023

The remaining five states do not impose a sales tax. To get started, you will need the following: Where the company currently files income tax, payroll tax, unclaimed property, and sales tax. Where your company has employees, sales representatives, or solicitors of sales and services. Who needs it?

South Dakota 52

South Dakota Tax Real Estate payroll tax 52

Withum

OCTOBER 11, 2023

However, the recent Notice provided a reasonable application of what expenditures would not be considered under IRC §174 R&E expenditures, including: General and administrative service department or function costs that only indirectly support or benefit R&E activities (e.g.,

income tax 80

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MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. This is a dollar-for-dollar offset of any federal income tax liabilities, as well as payroll tax liabilities in special circumstances too.

Tax 100

Tax payroll tax tax return Start-ups 100

Going Concern

OCTOBER 21, 2022

Sanchez was responsible for DFC’s accounting and financial records, and for collecting and paying over certain federal taxes from DFC’s employees, namely federal income taxes and Federal Insurance Contribution Act taxes, which include Medicare and social security taxes. appeared first on Going Concern.

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xendoo

JANUARY 16, 2023

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.

business tax 52

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Withum

AUGUST 3, 2023

This resulted in C corporations and S corporations sourcing receipts to New Jersey if the benefit of the service is received at a New Jersey location. At the time, the use of “cost of performance” sourcing remained unchanged for Gross Income Tax purposes (i.e., partnerships and sole proprietors). appeared first on Withum.

New Jersey 52

New Jersey income tax Tax payroll 52

xendoo

JANUARY 30, 2023

Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. Since the IRS calculates the tax credit amount based on the amount a company spends on R&D, most early-stage startups don’t qualify for the full amount. Tax credits are powerful tools.

business tax 52

business tax Tax tax return income tax 52

Snyder

JANUARY 19, 2023

We have our regular workload, and then add in 500 personal income tax returns with myself being the only one who actually works on the returns. We have a tight workflow, and we don’t take on anything new until after tax season ends. Want to automate your clients’ payroll? What’s the most challenging thing about this time?

Tax 52

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Withum

JULY 28, 2023

Enacted on July 21, 2023, New Jersey A4694 creates a “Convenience of Employer” rule, affecting both employers and employees for payroll tax reporting purposes. Let’s Talk It is vital that businesses review their payroll tax withholding tax policies as remote work continues to be commonplace.

New Jersey 94

New Jersey payroll tax payroll Tax 94

CPA Practice

APRIL 13, 2023

Income tax on crowdfunded assets According to the IRS, money raised through crowdfunding is generally considered taxable income. This means that the funds must be reported on your tax return and taxes must be paid on the amount received.

income tax 111

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Going Concern

JANUARY 19, 2023

Las Vegas tax preparer sentenced to prison for multiple fraud schemes King Isaac Umoren was sentenced to 13 years and three months in prison for filing false tax returns, aggravated identity theft, wire fraud, money laundering and impersonating an FBI agent. He was also ordered to pay nearly $9.7 He must also pay $10.8

Tax 62

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