MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. 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.

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BurklandAssociates

MAY 14, 2024

Staying on top of corporate taxes, payroll taxes, sales tax, and other tax obligations is a vital aspect of running a successful startup. The post Taxes for Early-Stage Startups: What Do I Have to Pay? appeared first on Burkland.

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CPA Practice

MARCH 10, 2023

Payroll is one of those opportunities. Why get involved in payroll? Payroll processing is an entry point to many additional advisory services. Payroll has the benefit of being a high-touch service that can help create a closer relationship between accountant and client.

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TaxConnex

FEBRUARY 24, 2022

But sometimes, the deal is held up for various reasons – including sales tax exposure within the company being acquired. But many business owners have been gut-punched during due diligence when an unanticipated sales and use tax?deficiency This could all be avoided if founders know their potential risk with sales and use tax?beforehand

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ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional (CPP) Corner, we talked about taxable and nontaxble fringe benefits. Payroll conference guidance on fringe benefits. Payroll Guide ¶3540 discusses fringe benefits. Payroll Guide ¶3585 discusses qualified transportation fringe benefits. Salary basis.

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

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ThomsonReuters

JUNE 29, 2022

Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. Interested in payroll topics? The IRS and U.S.

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DuctTapeMarketing

JULY 24, 2018

Tips for Outsourcing Your Payroll. Tips for Outsourcing Your Payroll. For small business owners, managing payroll can be a costly endeavor. For small business owners, managing payroll can be a costly endeavor. Aside from the pure amount of time and money put into payroll each week, there are less tangible costs as well.

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CPA Practice

OCTOBER 24, 2023

With the increasing adoption of cloud-based business systems, these small business owners have increasingly turned to outsourced CFO, tax, payroll, and bookkeeping services, giving them real-time guidance and daily operational support from these financial and business experts. 2023 sales tax rates. In the U.S., Click for larger image.)

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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 state currently has scheduled minimum wage increases.

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Randal DeHart

OCTOBER 28, 2022

Small business owners spend an average of eight hours monthly performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers. Upgrading or changing your payroll system comes with a ton of attractive benefits.

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CPA Practice

MAY 24, 2023

in unpaid sales and payroll taxes. When a distraint warrant is issued, the Department of Revenue posts signs on the business premises, changes the locks and seizes business assets until the state receives due back taxes — in this case wage withholding and sales tax,” Derek Kuhn, a tax supervisor with the department, wrote in an email.

Colorado 52

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Snyder

JANUARY 30, 2023

As a result, payroll is the very part of business operations that’s equally crucial to both parties, which is why investing in a reliable management system for your payroll needs is so important. We’ll review the key areas of payroll management and ideas for enhancing the process. What is payroll? Contents: 1.

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CPA Practice

OCTOBER 18, 2023

Retail sales continued to grow in September even as consumers faced continuing economic pressures, according to the National Retail Federation. Firm payroll growth over the past few months has likely helped spending across retail sectors. However, much of the rise was due to car sales, gasoline prices and food services.

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CPA Practice

OCTOBER 17, 2023

Retail sales continued to grow in September even as consumers faced continuing economic pressures, according to the National Retail Federation. Firm payroll growth over the past few months has likely helped spending across retail sectors. However, much of the rise was due to car sales, gasoline prices and food services.

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PYMNTS

SEPTEMBER 15, 2020

15) announced the launch of two new features the company says will make payroll easier for employers and employees alike. Instant Payments allows Square Payroll customers to fund their payroll using the money in their Square Balance, where sales they process via Square are stored. Square Inc. NYSE:SQ) on Tuesday (Sept.

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Withum

OCTOBER 9, 2023

The legislation adopts a single sales factor apportionment formula for all corporations and also makes changes for how financial institutions source its income from investment activities and trading activities. Let’s Chat The post Massachusetts Enacts Single-Sales Apportionment Among Other Tax Provisions appeared first on Withum.

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SchoolofBookkeeping

OCTOBER 29, 2021

If you have employees, Payroll is a huge part of your business. There are so many aspects of Payroll, it's a full-time job (get it?). There are a variety of Payroll services. We have created a Payroll Chooser to help guide you based on your needs. Below are some of the highlights of the different Payroll offerings.

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TaxConnex

MARCH 19, 2024

Wouldn’t it be amazing if your online business had to deal with just a single sales tax rate? Any business that sells into America knows that sales tax is still a complex web of different rates and requirements. What is the latest word on uniform sales taxes globally? 25 years and counting One recent U.S.

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xendoo

JULY 15, 2022

Doing payroll may not be your favorite part of running a business. If you haven’t yet, the first step is to learn how to set up payroll. How to Set Up Payroll. Luckily, we’ve put together this guide on how to set up payroll, with some insider accountant tips to make it less painstaking for business owners. .

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FraudFiles

MARCH 21, 2022

But Tracy Coenen has some techniques she uses to try to uncover unreported cash sales. Tracy mentions some of the things she analyzes like credit payroll records, equipment purchases, and credit card sales. It is difficult because cash leaves no paper trail. She gives examples including restaurants and laundromats.

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Withum

APRIL 24, 2024

At this point in time, Enterprise sales are not being discontinued. New QBD Pro/Premier sales are being stopped after 7/31. If we upgrade to the 2024/25 version of QBD, can I use payroll service still? Or am I required to be on QBO to do payroll? Payroll will continue to be offered for active QBD subscriptions.

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quickbooks NetSuite payroll E-commerce 114

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Recording sales is a big part of that. What should you know about recording sales for ecommerce? Ecommerce entrepreneurs and bookkeepers collect sales tax and financial statements.

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CPA Practice

DECEMBER 21, 2023

Wayfair ruling more than five years ago, economic nexus has remained as a huge factor for sales tax implications. In-state companies were at a disadvantage of having to charge sales tax when most online sellers did not. By cross-checking with payroll returns, companies that may be non-compliant for sales tax can be easily identified.

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South Dakota Sales Tax tax return 49

CPA Practice

FEBRUARY 16, 2023

Initially focusing on providing bookkeeping and payroll services, VARC Solutions has expanded to offer fully outsourced business management, payment processing, invoice management, consulting, implementation, and training. Since there are more than 12,000 sales and use tax jurisdictions in the U.S., Wayfair, Inc.,

Sales 52

Sales Tax South Dakota bookkeeping 52

Cherry Bekaert

APRIL 22, 2024

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. Alabama: The Alabama Job Act provides a cash refund of up to 4% of the previous year’s gross payroll for new jobs for up to 10 years. taxable wages for up to 15 years.

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ThomsonReuters

JULY 7, 2021

In general, the federal income tax, Social Security tax, FUTA tax, Medicare tax, and Additional Medicare tax are considered employment or payroll taxes. These two federal laws contained payroll-related provisions aimed at helping employers and employees during the pandemic. Payroll tax relief. Worksheet 5. Federal News.

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LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. I missed payroll tax filing deadlines that cost me thousands of dollars. Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. What are Payroll Taxes?

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MyIRSRelief

APRIL 29, 2024

Understanding sales tax regulations, occupancy taxes, and fluctuating seasonal income is essential for these businesses. Bookkeeping and Payroll Management: Outsourced bookkeeping ensures accurate financial records, allowing you to focus on core business activities. to minimize your tax burden and maximize profits.

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inDinero Tax Tips

MAY 21, 2021

If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. Follow along for a brief R&D credit breakdown and how it and the payroll offset work together like a perfect chocolate and vanilla swirl. Software development for internal* use or sale.

payroll tax 95

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ThomsonReuters

MARCH 22, 2021

For payroll, in particular, there are a number of taxes. A number of those pages will directly affect payroll. It is a resource that offers a sense of security even if the company has its own full payroll department or outsources payroll duties to a third-party provider. Using sales tax to fund unemployment trust fund.

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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. Payroll Changes Coming in July appeared first on Tax & Accounting Blog Posts by Thomson Reuters. West Virginia. per week on July 1, 2021. .

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CPA Practice

MAY 15, 2024

At the same time, the nearly universal adoption of cloud-based accounting, payroll and management systems by businesses has made it easier for firms to work with clients in real time, providing rapid response to issues, as well as access to live data and account information.

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PYMNTS

SEPTEMBER 21, 2020

Recent PYMNTS data show that 42 percent of Main Street small and medium-sized businesses (SMBs) have reduced payroll to help mitigate the financial impact of the pandemic. Cash, after all is finite, if sales do not keep rolling in. The payroll reductions — whether by cutting staff or paying people less — have increased.

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PYMNTS

MAY 14, 2020

These data points are deeply troubling, Global Head of Visa Direct Sales Cecilia Frew told Karen Webster in a recent conversation. Visa’s EWA partners include technology providers like DailyPay , FlexWage , Instant Financial , PayActiv , and ZayZoon , as well as merchants and payroll companies.

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MyIRSRelief

MAY 15, 2024

Common 990 Compliance Issues: preparation & planning Misclassification of volunteers as employees, leading to potential payroll tax liabilities. Overlooking local property and sales tax exemptions. Do we need to worry about payroll taxes? A : Generally, volunteers aren’t considered employees for tax purposes.

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PYMNTS

MARCH 7, 2019

The companies said in a release today (March 7) that “the demand for instant access to earned wages has now extended to batch payroll,” and can effectively break the cycle that seems entrenched in the work world — namely, the two-week waiting period that marks the time between paychecks. The PayActiv benefit is zero cost to the employer.

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