CPA Practice
APRIL 9, 2024
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. Medicare tax on wages exceeding certain thresholds.)
Cherry Bekaert
APRIL 22, 2024
individual states offer unique tax credits and negotiated incentives to attract or retain business operations. To qualify for payroll or cash refunds, the company must file an application and receive approval from the state prior to creating the new jobs. Throughout the U.S., The incentive amount varies by location and industry.
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Anders CPA
MAY 15, 2023
This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.
ThomsonReuters
JANUARY 30, 2023
States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. The bill also calls for any unused PFMLI premiums to be reverted to the General Fund.
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%.
MyIRSRelief
JULY 3, 2023
Contact us for professional tax help today! During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Understanding ERC IRS Audits 1.1 What is an ERC IRS Audit? ERC IRS Audit Process 2.1 What Happens During an ERC Audit?
CPA Practice
DECEMBER 19, 2023
Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.
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