ThomsonReuters

JUNE 22, 2021

As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. State by State Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax. Beginning, July 1, the Montgomery County minimum wage increases to $13.50

payroll 72

payroll Virginia Utah West Virginia 72

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?

audit 130

audit North Carolina Oklahoma Ohio 130

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.

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

CPA Practice

MAY 17, 2023

The day is part of Small Business Success Month by Intuit, the company that makes professional and consumer financial management and tax software, including QuickBooks , TurboTax , Credit Karma , and Mailchimp. As a business owner, you have to wear a lot of different hats…I’m the owner, operations manager, I manage payroll and bookkeeping.

Louisiana 97

Louisiana quickbooks Michigan Transportation 97

ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. Who is eligible? What’s on the horizon?

Hawaii 98

Hawaii payroll tax South Dakota payroll 98

ThomsonReuters

JULY 19, 2022

In California and Michigan, the frequency of pay depends on the occupation. In general, employees use mobile applications to access accrued wages before the end of their regular pay cycle and the amounts are transferred to a bank account, pre-paid debit card, or payroll card. Interested in payroll topics?

New Hampshire 98

New Hampshire payroll Construction California 98

CPA Practice

JULY 19, 2023

A 529 is a tax-advantaged account into which parents – and anyone, really – can deposit money in anticipation of one day paying college expenses. Contributions are not federally tax-deductible, but many states do offer a state tax deduction. You can’t double-dip by getting the tax credit while paying with 529 money.

Education 98

Education Transportation Michigan Virginia 98

ThomsonReuters

OCTOBER 7, 2021

As more and more clients seek DIY solutions when completing their taxes, differentiating your firm, and capitalizing on your strengths are crucial to keeping existing clients and generating new business. The leader of a firm in Michigan had this to say about advisory services. Leverage your strengths .

payroll 52

payroll Michigan Technology Tax 52

ThomsonReuters

FEBRUARY 7, 2022

It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . For further information on creditor garnishment, visit the Quick Reference Chart on Checkpoint Edge at Payroll Guide ¶17,080 (Highlights of state rules for creditor garnishment). . per hour; $14.00

Rhode Island 92

Rhode Island South Dakota Connecticut Agriculture 92

Going Concern

OCTOBER 21, 2022

PwC Adds More Minorities to Ranks While Partner Promotions Lag [ Bloomberg Tax ]. UHY Acquires Michigan Firm. Lizbel Sanchez, also known as Lizbel Diaz, 47, pleaded guilty to one count of willful failure to collect or pay over taxes in April. I had to stop going to H&R block for my taxes at some point.

audit 69

audit CPA accounting firms accounting and finance 69

ThomsonReuters

MARCH 15, 2021

March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the income tax filing deadline. Now, let’s take a look at this past week in payroll and go over a few of the more interesting stories buzzing about in the industry. IRS tax tip on repayment of deferred Social Security taxes.

payroll 98

payroll Connecticut Massachusetts income tax 98

PYMNTS

JANUARY 8, 2018

Jason West, a Credit Suisse analyst, said in a note that the stock has lost about 12 percent of its value from recent highs (as quoted by CNBC.com ), and yet forward earnings should get a boost, in part, from tax cuts. In addition, “near-term concerns around competition” are already priced in.

Retail 40

Retail Michigan Technology payroll 40

ThomsonReuters

JANUARY 24, 2022

The Michigan Unemployment Insurance Agency stated in its September 2021 Michigan Employer Adviser that whether an individual will be eligible for unemployment benefits for refusing an employer’s vaccine mandate will depend on the facts and circumstances of the case. The Utah Workforce Services did not respond to our request.

Rhode Island 119

Rhode Island West Virginia South Dakota Maryland 119

ThomsonReuters

MARCH 8, 2021

Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. Unemployment tax rate rollback. Federal News. Senate passes $1.9

payroll 52

payroll Connecticut Alabama Virginia 52

ThomsonReuters

JULY 26, 2022

per hour effective July 24, 2009 (see Payroll Guide ¶18,200 ). See Payroll Guide ¶19,010 for a list of the current state minimum wage rates and further wage and hour information. Interested in payroll topics? Who the federal minimum wage rate applies to? Exceptions. Many states have minimum wage laws.

North Dakota 98

North Dakota South Carolina North Carolina Michigan 98

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. In Connecticut, personal income tax revenue took a $1.3 Ned Lamont signed a tax cut bill in June. Inflation was a little lower in the Midwest, about 19%, and about 16% in the Northeast. Democratic Gov.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

CPA Practice

APRIL 25, 2024

An overwhelming 77% of registered voters in the seven states that will decide the 2024 presidential election like the idea of a billionaires tax to bolster Social Security shortfalls, the poll found. Around one-fourth of poll respondents supported those policies, while about a third support increasing payroll taxes.

North Carolina 98

North Carolina Wisconsin Nevada Arizona 98

PYMNTS

JUNE 4, 2020

Trump and advisors floated a number of possibilities, including an infrastructure package, along with a payroll tax cut, tax deductions for companies’ workers’ restaurant and entertainment expenses, and maybe more. And recent analyses have the economy taking until 2030 to start fully recovering.

Oklahoma 53

Oklahoma Kentucky Oregon Michigan 53