CPA Practice

DECEMBER 19, 2023

Michigan lowers prepaid sales tax rate for gasoline From December 1 through December 31, 2023, Michigan’s prepaid sales tax rate for gasoline is dropping from 19.2 Also as of December 1, tax returns for South Carolina’s maximum tax can no longer be filed on paper; Max Tax returns must be filed electronically.

South Carolina 111

South Carolina Tax Florida tax return 111

CPA Practice

AUGUST 21, 2023

They are taxed on their income but can’t write off most of their business expenses. Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. Look for more states to follow suit. _

income tax 98

income tax Tax tax return Minnesota 98

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

tax preparation 132

tax preparation Tax tax return income tax 132

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

AUGUST 4, 2022

Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws. that states that marketplace providers are responsible for collection and remittance of the Wisconsin premier resort taxes. returns for direct sales and indirect sales.?. Recently Wisconsin, for example, updated?

Wisconsin 130

Wisconsin North Carolina Michigan Iowa 130

CPA Practice

FEBRUARY 29, 2024

Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan.

Rhode Island 52

Rhode Island West Virginia Tax Connecticut 52

TaxConnex

MARCH 24, 2022

Most states now have marketplace facilitator laws, though definitions of a “marketplace facilitator” vary almost as much as do states’ sales tax laws. Most recently , Michigan and Minnesota issued guidance on sales and use tax nexus applicable to marketplace facilitators and sellers, clarifying when facilitators have sales tax obligations.

South Dakota 174

South Dakota Nevada Missouri Minnesota 174

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. This results in a US tax bill of about $111,000.

income tax 120

income tax Michigan Pennsylvania tax return 120

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

JUNE 21, 2023

Field of Study: Business Management & Organization Register Today Presented by Shirley Chen is a SafeSend Product Enthusiast based in Commerce, Michigan. Shirley Chen is a Digital Transformation Practitioner who specializes in leading changes in the tax & accounting industry.

Tax 80

Tax Technology Indiana Michigan 80

CPA Practice

AUGUST 18, 2023

Join SafeSend as we examine a variety of options for automating client touchpoints across the tax engagement – gather source documents, collect digital organizers, assemble, and deliver completed tax returns, collect e-signatures, send reminders, and accept tax prep fees just to name a few.

Technology 52

Technology Indiana Michigan E-commerce 52

MyIRSRelief

MAY 22, 2023

In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems. Contact us for tax help today. Tax audits can be time-consuming and require a significant amount of documentation.

payroll tax 147

payroll tax payroll audit Tax 147

CPA Practice

JULY 19, 2023

A special rule allows gift givers to spread larger one-time gifts across five years’ worth of gift tax returns to preserve their lifetime gift exclusion. CSS Profile schools are mostly private colleges and universities, along with a few “public ivies” like the University of Michigan, William & Mary and the University of Virginia.

Education 98

Education Transportation Michigan Virginia 98

MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. Certain factors, such as high claim amounts or inconsistencies in reported data, may trigger an audit. ERC IRS Audit Process 2.1 What Happens During an ERC Audit?

audit 130

audit North Carolina Oklahoma Ohio 130

ThomsonReuters

JULY 10, 2023

Meanwhile, in Michigan, physical presence can be created by the following: Employees, agents, brokers, representatives, subcontractors, etc. working on behalf of the entity within Michigan. physically within Michigan. Soliciting sales in Washington through employees or other representatives.

Sales 98

Sales Tax Michigan Washington 98

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. Fast forward to 2021, as the COVID-19 crisis continues, the federal unemployment rate held steady at 6.2% in February.

payroll tax 98

payroll tax Hawaii South Dakota payroll 98

ThomsonReuters

JUNE 22, 2021

Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments. New Mexico.

payroll 72

payroll Virginia Utah West Virginia 72

TaxConnex

OCTOBER 3, 2023

In June, before the Court’s ruling, Halstead Bead sent notice to the Court that recently enacted Louisiana legislation requiring the implementation of a single remittance system for taxpayers “resolves Halstead’s complaint and ensures that Halstead is no longer subject to Louisiana’s unconstitutionally prolix tax system.” Effective next Jan.

Sales 147

Sales Louisiana Tax Tennessee 147

ThomsonReuters

MARCH 22, 2021

This applies to the quarterly payroll tax returns (Form 941) normally due on April 30, 2021. This extension does not apply to employment tax deposits, however, penalties on deposits due on or after February 11, 2021 and before February 23, 2021 will be abated as long as the deposits were made by February 26, 2021.

payroll 52

payroll Tax Arkansas Texas 52

TaxConnex

JUNE 1, 2023

So, is cancelling your sales tax registration simple? Process varies by state Cancelling can be as straightforward as writing “Final” on your sales tax return. In Michigan and Minnesota, for instance, you have to have not met nexus thresholds for almost a year. And do you always want to do it?

Sales 130

Sales Tax New Jersey North Carolina 130

TaxConnex

SEPTEMBER 7, 2023

Location, location, location 501(c)(3) organizations are exempt from sales tax on their purchases in Colorado and in Utah. Sometimes nonprofits and not-for-profits must pay sales tax when they buy items, at least initially, as in North Carolina. Most states, like Michigan , require special registration for exemption.

Sales 147

Sales Tax Non-Profits North Carolina 147

CPA Practice

MARCH 21, 2024

This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. The personal property tax forms and procedures conundrum Filing property tax returns is the first hurdle your company must overcome if you do business in any of the 37 states that tax tangible personal property.

Rhode Island 119

Rhode Island Tax Arizona South Carolina 119

CTP

NOVEMBER 25, 2022

So, not surprisingly, we’re going to tell you about the most tax-advantageous way to start saving for college. The first 529 College Savings Plan was launched by the state of Michigan in 1986. Saving for college through a 529 plan can simultaneously help you reach your college savings goals and reduce your taxes. Here’s why.

Education 93

Education Tax accounting and finance Michigan 93

CTP

NOVEMBER 25, 2022

So, not surprisingly, we’re going to tell you about the most tax-advantageous way to start saving for college. The first 529 College Savings Plan was launched by the state of Michigan in 1986. Saving for college through a 529 plan can simultaneously help you reach your college savings goals and reduce your taxes. Here’s why.

Education 40

Education Tax accounting and finance Michigan 40

ThomsonReuters

MARCH 15, 2021

The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal Tax Return and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. 2021 Form 941. Hazard pay to direct care workers. additional dollars per hour to $2.25

payroll 98

payroll Connecticut Massachusetts income tax 98

ThomsonReuters

MARCH 8, 2021

Alabama taxpayers residing in areas designated as disaster areas by the federal government have until June 15, 2021, to file tax returns due on or after February 11, 2021, and before June 15, 2021. Affected taxpayers filing for tax types that include withholding tax may submit a penalty waiver request using Form PWR.

payroll 52

payroll Connecticut Alabama Virginia 52

CPA Practice

DECEMBER 29, 2023

But we just don’t do it in the technology lab, for example, the new deployment in Michigan of power chargers under the streets, and that’s being done in Germany and Sweden and lots of other places. And of course, Brian and I will spend time at CES and talk about new technologies there.

Technology 59

Technology quickbooks cpa firm CPA 59

Going Concern

NOVEMBER 10, 2023

Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. Earnest and Randell were separately convicted of individual counts of preparing false tax returns.

audit 96

audit accounting and finance auditor Mississippi 96

Going Concern

FEBRUARY 16, 2024

Detroit woman accused of being unlicensed real estate agent, CPA charged [ The Detroit News ] A Detroit woman accused of working as an unlicensed accountant and an unlicensed real estate agent has been charged, the Michigan Attorney General’s Office said.

Real Estate 99

Real Estate Iowa audit CPA 99