CPA Practice

MARCH 27, 2023

By Faustine Ngila, Quartz (TNS) Côte d’Ivoire citizens pay the highest income taxes in the world according to this year’s survey findings by World Population Review. ©2023 Quartz Media Inc.

income tax 139

income tax tax corporation tax Sales 139

RogerRossmeisl

SEPTEMBER 26, 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. Here are three considerations.

income tax 130

income tax tax cpa 130

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. Sales Tax Implications of Wayfair.

income tax 165

income tax tax Sales South Dakota 165

RogerRossmeisl

NOVEMBER 6, 2023

If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. This is only the beginning of the unwelcome tax compliance tasks. For 2023, the SE tax consists of 12.4%

tax 245

tax income tax cpa Government 245

RogerRossmeisl

OCTOBER 29, 2023

Be aware of the tax implications if you’re selling your home or you sold one in 2023. You may owe capital gains tax and net investment income tax (NIIT). Here are the Tax Rules appeared first on Roger Rossmeisl, CPA. The post Selling Your Home for a Big Profit?

tax 264

tax income tax cpa Sales 264

MyIRSRelief

JANUARY 16, 2023

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

income tax 130

income tax tax preparation tax cpa 130

CPA Practice

NOVEMBER 1, 2023

At least, families may be eligible for certain tax benefits along the way. Here are five of the main tax breaks on the books. Child Tax Credit: Under current law, the partially refundable Child Tax Credit (CTC) can be claimed by parents with dependent children under age 17. Others may apply to your situation.

income tax 116

income tax tax Education Legal 116

RogerRossmeisl

OCTOBER 28, 2020

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates 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. Here are some strategies to consider.

income tax 221

income tax tax planning tax cpa 221

CPA Practice

MARCH 16, 2023

The Financial Accounting Standards Board released a proposed Accounting Standards Update (ASU) on Wednesday that addresses requests from investors for improved income tax disclosures. Comments on the proposed ASU should be submitted to the FASB by May 30.

income tax 111

income tax tax accounting standards financial statements 111

CPA Practice

AUGUST 7, 2023

Taylor, Kiplinger Consumer News Service (TNS) Does the order of names on your joint federal income tax return reveal significant things about you and your partner? A recent study suggests the answer could be yes—that tax return name order may hold some clues about social norms and beliefs. Income tax returns: Who’s on first?

income tax 98

income tax tax return tax audit 98

RogerRossmeisl

NOVEMBER 6, 2023

If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically be structured in two ways: 1. Stock (or ownership interest) sale. Reasons: The corporation.

tax 256

tax cpa income tax Sales 256

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 SUI Tax? The federal tax rate is a flat 6%.

income tax 98

income tax tax South Dakota Alaska 98

Cherry Bekaert

MAY 16, 2023

Contributors: John Ford | Senior Consultant, Government Contracting Industry Practice Tony Konkol | Manager, State & Local Tax Practice As a general rule, corporations are responsible for paying Federal and state taxes on the income they earn. This allows S corporations to avoid double taxation on the corporate income.

income tax 88

income tax tax tax return Government 88

CPA Practice

JANUARY 23, 2023

(TNS) Seeming to come out of left field, President Joe Biden last week blasted Republicans for pushing legislation that would abolish federal income taxes and the IRS then replace those revenues with a 30% or so national sales tax. “It But rolling back taxes will be a prime topic as state legislatures convene around the country.

income tax 116

income tax tax Georgia Louisiana 116

CPA Practice

MARCH 1, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Benjamin Franklin coined the famous saying that “in this world, nothing is certain but death and taxes.” But what about when death and taxes coincide, such as when someone dies during the year and has a tax filing obligation? 31, 2022, you can file a joint 2022 return.

income tax 122

income tax tax return tax tax preparation 122

Cherry Bekaert

JULY 14, 2023

Many of these startups are set up as pass-through entities (PTEs), which provide an easy conduit for one layer of flow-through taxation and often retain favorable exit opportunities from a tax perspective. As these startups grow and take on investors, it’s important that financial managers understand the state tax ramifications of growth.

income tax 97

income tax tax Technology tax return 97

RogerRossmeisl

NOVEMBER 27, 2020

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. The post How is Disability Income Taxed? You may wonder. If this is the case, the.

income tax 130

income tax tax cpa 130

Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

income tax 138

income tax tax accounting standards financial accounting 138

RogerRossmeisl

AUGUST 6, 2023

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. July 31 Report income tax withholding and FICA taxes for second quarter 2023 (Form 941) and pay any tax due. See the exception below, under “August 10.”)

tax 246

tax income tax cpa business tax 246

RogerRossmeisl

AUGUST 6, 2023

If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill. In this scenario, the tax rules generally treat you as a real estate dealer. net investment income tax (NIIT) for a combined federal rate of up to 40.8%. And you may owe state income tax too.

tax 243

tax income tax cpa Real Estate 243

SkagitCountyTaxServices

NOVEMBER 8, 2023

While there have been some good developments from the IRS with regard to Skagit County businesses like yours (primarily the business accounts option), there are also the negative implications of a more concerted effort by the IRS to collect unpaid taxes.

income tax 62

income tax tax return tax financial accounting 62

Patriot Software

AUGUST 17, 2020

Tax withholding comes with the territory of being an employer. Employment taxes can be broken down into payroll taxes and income taxes. But when you hear about a payroll tax deferral, you probably want to know the exact difference between payroll tax vs. income tax.

payroll tax 135

payroll tax income tax payroll tax 135

RogerRossmeisl

APRIL 24, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.

tax 239

tax income tax tax return cpa 239

Canopy Accounting

SEPTEMBER 29, 2023

Corporation Income Tax Return, plays a crucial role in the world of taxation for corporations. In this blogpost, we will explore the key aspects of Form 1120 and its significance in filing corporate taxes. Form 1120, the U.S. As an accountant, it is essential to have a firm grasp of this form and its implications.

income tax 59

income tax tax return tax corporation tax 59

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-103 9/5/2023 Starting a new business can seem overwhelming for new entrepreneurs or even seasoned professionals. The IRS has resources to help new business owners understand the tax responsibilities of running a business. Here are a few things any entrepreneur needs to do when starting their business.

tax 130

tax income tax tax return cpa 130

Patriot Software

OCTOBER 11, 2022

Each state’s income taxes are different. Some states have low taxes, some have high taxes, and some states don’t have income taxes at all.

income tax 103

income tax tax payroll 103

Patriot Software

DECEMBER 15, 2022

Arizona employers, you may know that Senate Bill 1828 substantially reduced the state’s income taxes starting with the 2022 tax year. But did you also know that it requires employer action for the 2023 tax year? You must now give all employees—not just new hires—a new AZ state income tax form.

income tax 97

income tax tax Arizona payroll tax 97

CPA Practice

JANUARY 13, 2023

billion surplus at the end of this fiscal year, increasing the likelihood that all that cash could trigger a permanent cut in the state income tax. Related: Democrats say 700,000 Michigan households could save thousands under tax cut plan. State treasury officials estimate Michigan government will see a $9.2

income tax 98

income tax Michigan tax financial statements 98

MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements.

corporation tax 130

corporation tax tax tax return income tax 130

CPA Practice

AUGUST 14, 2023

Fortunately, the tax law provides several tax breaks for new parents, some of which were highlighted in a recent IRS post (IRS Tax Tip 2023-89, 7/10/23). Child Tax Credit: This is a partially refundable tax credit available to parents with dependent children under age 17. Here are four examples.

income tax 98

income tax tax Education Start-ups 98

CPA Practice

MARCH 23, 2023

By Faustine Ngila, Quartz (TNS) Côte d’Ivoire citizens pay the highest income taxes in the world according to this year’s survey findings by World Population Review. ©2023 Quartz Media Inc.

income tax 71

income tax tax corporation tax Sales 71

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. Conformation to IRC.

income tax 52

income tax tax planning tax South Dakota 52

RogerRossmeisl

AUGUST 28, 2022

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. Here are some examples.

tax 246

tax income tax cpa business tax 246

CPA Practice

NOVEMBER 22, 2023

December is here, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline being April 15 (which can vary based on weekends or state holidays). That’s without an expensive “tax refund loan” or other similar product.

tax 98

tax income tax tax return cpa 98

Patriot Software

MARCH 10, 2023

If so, you might have heard about House Bill 2526, a 2023 law that significantly cut individual income tax rates. As a result, your West Virginia income tax withholding might look a little different. Are you an employer in West Virginia? In this article, we’ll go over: What compensation is subject to withholding?

West Virginia 96

West Virginia income tax Virginia tax 96

MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

corporation tax 130

corporation tax tax tax planning business tax 130

RogerRossmeisl

APRIL 21, 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. See June 15. (See

tax 246

tax income tax tax return cpa 246