CPA Practice

JULY 7, 2025

Sierra Rose Overmoyer (Pennsylvania), a graduate of Shippensburg University with a Bachelor of Science in Business Administration in accounting and finance, is employed with SEK CPAs & Advisors in Carlisle, PA. Provide guidance on Notice 2020-75 and sections 469 and 163 on nonpassive versus passive income and interest expense tracing.

cpas 85

cpas accounting and finance CPA Technology 85

TaxConnex

DECEMBER 17, 2024

Though some states (such as Pennsylvania ) have determined that an Amazon warehouse creates no physical nexus or special sales tax obligation for online sellers, this trend bears watching in the coming year. You nevertheless might still face the challenge of having created physical nexus. Change of staff: Who left your company in 2024?

Sales 130

Sales Tax auditor audit 130

Accounting Today

JUNE 5, 2025

.: CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. For a decade, he did not file federal income tax returns nor pay taxes owed despite earning more than $7.7 Philadelphia: Tax preparer James J.

Tax 59

Tax tax preparation North Carolina tax return 59

Accounting Today

JUNE 6, 2025

The upgraded income tax return solution now includes enhanced client onboarding workflows that allow firms to create multiple engagements in bulk to accelerate onboarding. The new AI document assistant transforms lengthy documents into actionable insights by extracting key details.

Technology 59

Technology audit E-commerce tax preparation 59

Accounting Today

JUNE 26, 2025

Pennsylvania: CPA Michael A. During the 2016 through 2022 tax years, Gibson prepared at least 135 returns containing fraudulent information, causing a loss to the IRS of at least $125,197, which Gibson has agreed to pay in restitution. New York: CPA Kimberly Johnson, Bronx, indefinite from Nov. 14, 2024, and CPA George O.

Tax 71

Tax Technology tax preparation CPA 71

Going Concern

JANUARY 24, 2025

In an unusual twist, it could have to pay federal income taxes on those paper gainseven if it never sold a single bitcoin. The tax bill could total billions of dollars starting next year, according to a new disclosure this month by MicroStrategy that has received little attention.

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Accounting Today

JULY 11, 2025

GEORGIA Shelly Carmichael Smith + Howard, Atlanta, launched two new tax practices: site selection + incentives, led by Shelly Carmichael, and state and local income tax consulting, led by Brandee Tilman. PENNSYLVANIA Maggie Havelka Schneider Downs & Co., Read the full story.) By Michael Cohn July 10 Like what you see?

Oklahoma 72

Oklahoma Technology tax preparation audit 72

CPA Practice

OCTOBER 22, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions. million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions.

payroll 52

payroll Rhode Island South Dakota West Virginia 52

TaxConnex

AUGUST 18, 2022

has long included employees working in tax jurisdictions different from your office locations. Telework creates no exception to the rule, as was recently shown by the Supreme Court’s refusal to hear a remote work and tax case between New Hampshire and Massachusetts. Pandemic relief is obviously expiring.

Sales 246

Sales Tax New Hampshire income tax 246

CPA Practice

JULY 12, 2023

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SIT Tax?

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income tax Tax South Dakota Alaska 98

CPA Practice

AUGUST 1, 2024

City attorneys argue that there was no distinction between residents and non-residents because the out-of-town athletes and performers pay a 3% tax, whereas locals would pay a 2% school tax and a 1% income tax.

Pennsylvania 104

Pennsylvania Tax Real Estate Entertainment 104

Withum

JANUARY 2, 2024

Pennsylvania Senate Bill 815, signed into law on December 14, 2023, amended the Pennsylvania tax code to recognize irrevocable grantor trusts for tax years beginning after January 1, 2025. These transactions will now be disregarded for Pennsylvania income tax purposes as well.

Pennsylvania 78

Pennsylvania income tax Tax tax return 78

TaxConnex

JANUARY 13, 2022

Also, gift cards and cryptocurrency are a form of currency and should be treated as cash for sales tax purposes. Pennsylvania Republican State Sen. Scott Hutchinson is advocating for the elimination of both the Sales and Use Tax as well as the Personal Income Tax.

Sales 246

Sales Utah Tax Wisconsin 246

TaxConnex

MARCH 2, 2021

House has passed a measure that would increase the general sales tax rate for clothing and many other items from 7% to 9.5%. The proposal, which now goes to the state’s Senate, would also phase out Mississippi’s personal income tax over 10 years and cut its grocery tax in half over five years.

Sales 246

Sales Tax Missouri Wisconsin 246

TaxConnex

JULY 25, 2023

Other states also impose a gross receipts tax specifically on telecommunications services: Pennsylvania has a 5-percent gross receipts tax, for instance; Maryland is 2-percent and New York is 2.5-percent. These are annual corporate-type taxes, many times requiring an estimated payment like a corporate income tax.

Tax 246

Tax Florida Missouri Maryland 246

CPA Practice

FEBRUARY 11, 2023

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

TaxConnex

FEBRUARY 2, 2021

Pennsylvania , Maryland and New York impose a gross receipts tax specifically on communications services: These are annual corporate-type taxes, often requiring an estimated payment like a corporate income tax.

Tax 189

Tax Missouri Maryland Pennsylvania 189

CPA Practice

APRIL 9, 2024

These taxes fund social insurance programs such as Social Security, Medicare, and unemployment benefits. Here’s a quick breakdown of payroll taxes: Federal Income Tax Withholding : Employers must withhold federal income tax from employees’ wages based on their W-4 Forms and Internal Revenue Service (IRS) guidelines.

payroll tax 110

payroll tax West Virginia payroll cpas 110

TaxConnex

FEBRUARY 23, 2023

In more modern decades, Europe has largely elected to use a value-added tax ( VAT ). The American version Financing government has usually motivated creation of taxes in America. Though one of the first – in Pennsylvania more than 200 years ago – was a mercantile license tax. Salestaxes are no exception.

West Virginia 130

West Virginia Sales Rhode Island Tax 130

TaxConnex

JULY 12, 2022

The new law also provides that the marketplace facilitator’s tax collection obligation applies to any other taxes administered by the Oklahoma Tax Commission, which are levied by a local jurisdiction on the retail sale of a product. for how this will change sales tax filing and other taxpayer services?when 1 next year.

Sales 246

Sales Tax Oklahoma Illinois 246

Withum

AUGUST 24, 2023

The choice of where to establish one’s residency prior to a liquidity event can have far-reaching implications regarding income taxes and personal financial goals. Make sure you are considering the type of income when implementing state income tax planning techniques.

income tax 52

income tax tax planning South Dakota Wyoming 52

Withum

DECEMBER 19, 2022

Whether they grew up playing in the parks of Hershey, Pennsylvania, the frequent downpours of Oxfordshire, UK, the bitter cold of Detroit, Michigan, or the manicured training fields of Borussia Dortmund, most aspiring pro soccer players dream of playing in the World Cup. Per the IRS , the United States has tax treaties with several countries.

income tax 120

income tax Michigan Pennsylvania Sports 120

ThomsonReuters

SEPTEMBER 12, 2023

How to manage state and local tax Do you have clients who live in one state but work in another state? If so, they may be able to lower income taxes through a state-by-state reciprocity agreement, should the agreement exist. Let’s say a client lives in Maryland but works in Pennsylvania.

Indiana 98

Indiana Montana Pennsylvania Maryland 98

CPA Practice

JULY 23, 2024

City attorneys argue that there was no distinction between residents and non-residents because the out-of-town athletes and performers pay a 3% tax, whereas locals would pay a 2% school tax and a 1% income tax.

Pennsylvania 59

Pennsylvania Tax Real Estate Entertainment 59

CPA Practice

FEBRUARY 6, 2024

We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.

South Dakota 124

South Dakota Maryland Tax income tax 124

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. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

APRIL 11, 2025

The fee often called the "jock tax" is a 3% charge applied to income out-of-state athletes and performers make while using PPG Paints Arena,PNC Parkand Acrisure Stadium in PIttsburgh.

Pennsylvania 69

Pennsylvania Tax income tax 69

CPA Practice

APRIL 3, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 111

Rhode Island Alaska New Hampshire West Virginia 111

CPA Practice

APRIL 12, 2023

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

OCTOBER 4, 2024

For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin. During the pilot, Direct File supported taxpayers claiming the Earned Income Tax Credit, Child Tax Credit and Credit for Other Dependents.

Alaska 126

Alaska South Dakota North Carolina tax return 126

MazumaBusinessAccounting

JULY 27, 2022

The federal government sets the self-employment tax at 15.3%. Federal Income Tax. You will need to pay federal income tax in addition to the self-employment tax. The percentage you must pay in federal income tax depends on which income bracket you fall into. State Income Tax.

Tax 99

Tax income tax Pennsylvania Sales 99

CTP

MAY 6, 2024

When the Tax Cuts and Jobs Act of 2018 introduced a new $10,000 cap on state and local tax (SALT) deductions, taxpayers living in areas with high state-level taxes felt the hit. The state required a new levy amounting to 7% of the entity’s business income, and in exchange, the taxpayer received a state tax credit covering 87.5%

Connecticut 104

Connecticut New Jersey income tax Pennsylvania 104

TaxConnex

SEPTEMBER 22, 2022

Indiana has updated a sales tax information bulletin to reflect changes to the treatment of sales by nonprofits according to legislation enacted in March. Pennsylvania has ruled in Online Merchants Guild v.

Sales 130

Sales Tax Indiana Colorado 130

CPA Practice

APRIL 9, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 105

Rhode Island Alaska New Hampshire West Virginia 105

CPA Practice

SEPTEMBER 12, 2024

Earlier in his career, Burke held several progressive managerial roles in financial services, including serving as executive vice president and chief lending officer at Wayne Bank, where he managed the overall sales, service, and operations of the commercial banking division across Pennsylvania and New York. Hollerich holds a B.A.

Kansas 104

Kansas Pennsylvania audit accounting and finance 104

Anders CPA

MAY 23, 2023

Be aware that misclassifying an employee as an independent contractor with no reasonable basis for doing so can result in stiff punishment, including being held liable for employment taxes for that worker without the ability to access relief provisions.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

CTP

FEBRUARY 29, 2024

Without knowing that information, you can’t serve your client the legal help required to avoid paying IRS tax debts. First, you must classify gamblers, identify your clients in specific categories, and calculate estimated federal income tax. Lottery, horse track, poker tournament, and slot machine gambling are all taxed.

Gambling 105

Gambling Tax Account accountant 105