ThomsonReuters

FEBRUARY 14, 2022

Withholding : Federal income tax (FIT) is not withheld; however, FICA (Social Security and Medicare taxes) must be withheld. . FUTA: Subject to FUTA (Federal Unemployment Taxes) when $7,000 wage cap has not yet been met. . Withhold taxes for SS and Medicare Wages must be reported in Boxes 4 and 6. .

payroll 98

payroll South Dakota New Hampshire Wyoming 98

ThomsonReuters

MARCH 22, 2021

Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.

payroll 52

payroll Tax Arkansas Texas 52

PYMNTS

MAY 19, 2020

A Texas man is facing charges of filing fraudulent loan applications seeking more than $5 million in forgivable loans from the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), according to the U.S. PPP loan proceeds must be used by businesses on payroll costs, interest on mortgages, rent and utilities.

Texas 82

Texas payroll Government Tax 82

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

PYMNTS

OCTOBER 9, 2020

Dinesh Sah, 55, of Coppell, Texas, was charged with three counts of wire fraud, three counts of bank fraud and one count of money laundering. Sah was initially charged in a sealed complaint, arrested and ordered detained until trial, according to federal court records for the Northern District of Texas, where the case has been brought.

Texas 56

Texas payroll Government Tax 56

CPA Practice

JANUARY 2, 2024

PKF Mueller Joins Cherry Bekaert to Expand Chicago Market Reach Cherry Bekaery, an assurance, tax and advisory firm, recently completed an acquisition transaction with PKF Mueller , a full-service certified public accounting and business advisory firm located in the metropolitan Chicago area.

Illinois 114

Illinois Pharmaceutical E-commerce audit 114

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

PYMNTS

APRIL 10, 2020

The built-in leave standards for emergency FMLA and emergency paid sick leave ensure that companies are monitoring leave requests that meet FFCRA standards and will be ready to receive refunds through a government tax credit. GoCo is also offering educational materials to assist HR professionals in making sense of the new standards.

payroll 74

payroll Texas Education Government 74

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., Canada, and the Bahamas.

Sales 52

Sales Tax South Dakota bookkeeping 52

CPA Practice

MARCH 21, 2023

For many, reaching a six-figure salary is a watershed moment, yet it’s an illusory milestone: In reality, your take-home pay is much lower after taxes and factoring in the sky-high cost of living in many major cities. The state of Tennessee doesn’t tax earned income. Seven of the top 10 cities are in Texas, a state known for low taxes.

Tennessee 116

Tennessee Texas Florida Tax 116

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

MARCH 7, 2023

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. For businesses structured as corporations, being an S Corp can help them avoid paying taxes at the corporate and shareholder levels. for Medicare.

New Hampshire 114

New Hampshire Tax tax return income tax 114

SkagitCountyTaxServices

JULY 12, 2023

The IRS is on the hunt for those kinds of people right now — look at this 53 million in PPP fraud case in north Texas. Communicate with your team that keeping the lights on is more important than temporary payroll reductions; you might even find one or two people willing to volunteer cuts. Who does what and for how long?

payroll 74

payroll payroll tax Texas CPA 74

SkagitCountyTaxServices

MAY 26, 2021

With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. Buckle up, partner.

business tax 40

business tax Tax tax return income tax 40

Going Concern

SEPTEMBER 15, 2023

Sioux Falls CPA firm marks century in business [ SiouxFalls.Business ] The fourth-generation Sioux Falls firm Nelson & Nelson CPAs celebrates 100 years in business, providing tax, accounting, payroll and bookkeeping services. The remaining 21 will work in either the tax or risk departments across a range of roles.

audit 103

audit Colorado CPA Texas 103

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.

South Carolina 105

South Carolina North Carolina Mississippi Tennessee 105

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

ThomsonReuters

JUNE 21, 2021

Repaying Deferred Social Security Taxes . In addition, a Presidential Memorandum signed on August 8, 2020, allowed employers to defer the employee’s share of Social Security tax from September 1, 2020 through the end of tax year 2020. . credit for employer FICA tax paid with respect to employee cash tips.

payroll 52

payroll Tax Missouri Massachusetts 52

PYMNTS

MARCH 30, 2018

Texas’ SpyCloud delivers protection against account takeover for its corporate clients. The company offers a cash flow management platform for small and medium-sized enterprises, as well as a payment platform to enable businesses to pay rent and taxes, payroll and more with a credit card, regardless if the recipient accepts cards.

B2B 46

B2B Technology California Hospitality 46

ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Now let’s go over some federal and state payroll stories from the past week. This includes withholding taxes.

payroll 52

payroll income tax California North Dakota 52

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? What is indirect tax? Direct tax and indirect tax. The differences between direct tax and indirect tax are important to understand. The differences between direct tax and indirect tax are important to understand. Direct tax is progressive in nature.

Tax 52

Tax income tax Oregon Ohio 52

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

business tax 52

business tax Tax income tax payroll tax 52

ThomsonReuters

JANUARY 24, 2022

A spokesperson for the Texas Workforce Commission (TWC) has confirmed with Thomson Reuters that it is unlikely that a claimant will be disqualified from receiving unemployment benefits if the work separation was caused by the employee’s failure to receive the COVID-19 vaccine, although each individual case is different.

Rhode Island 119

Rhode Island West Virginia South Dakota Maryland 119

ThomsonReuters

FEBRUARY 9, 2022

Part 1 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including worker classification, COVID-19 vaccine mandates, and wage and hour. Read part 2 for more 2022 payroll trends. It can result in costly penalties and the payment of back wages and taxes. Biden , S.D.

payroll 110

payroll New Jersey Florida Hawaii 110

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

AUGUST 16, 2021

In June of 2021, a federal judge in Texas upheld the Houston Methodist Hospital’s COVID-19 vaccine requirement by dismissing a lawsuit that claimed vaccines against COVID-19 are experimental. Termination for noncompliance. Can an employer terminate an employee who does not comply with a COVDI-19 vaccine requirement?

Legal 52

Legal payroll Connecticut Virginia 52

PYMNTS

OCTOBER 28, 2019

Wayfair’s case enabled cities and states to pass economic nexus laws that require out-of-state sellers to collect and remit taxes on local residents’ sales, and it permitted these jurisdictions to implement marketplace facilitator laws necessitating that eCommerce platforms collect and remit taxes on third-party merchants’ sales. .

South Dakota 42

South Dakota Retail Arizona income tax 42

Going Concern

JANUARY 20, 2023

District Court for the Northern District of Texas seeking declaratory and injunctive relief from the PCAOB, claiming the audit overseer used “secret disciplinary proceedings” to unconstitutionally prosecute the unnamed accountant. billion in fraudulent tax deductions supposedly aimed at preserving green space.

auditor 95

auditor Technology audit financial statements 95

CPA Practice

FEBRUARY 15, 2024

The event, held in Austin, Texas, gave attendees an inside look at tech developments the vendor is making, as well as the opportunity to speak one-on-one with developers. HR management payroll, Randy Johnston 09:52 If I could interject something there. Use the podcast player below to listen to the podcast.

NetSuite 52

NetSuite Technology Account accountant 52

PYMNTS

DECEMBER 12, 2018

Urban Eatz in Richardson, Texas, has become the first NCR customer to use JetPay payment processing through its point-of-sale (POS) software. JetPay ’s services include card acceptance, processing, payroll, payroll tax filing, human capital management services and more.

Hospitality 46

Hospitality Pennsylvania payroll tax payroll 46

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 232

Sales Tax Colorado Alaska 232

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. per hour. per hour.

North Dakota 98

North Dakota South Carolina North Carolina Michigan 98

Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. From 2012 to April 2018, according to the criminal information document signed by U.S.

CPA 99

CPA Illinois auditor Iowa 99

CPA Practice

NOVEMBER 1, 2023

Mountain states such as Utah saw high earners moving in from California, Oregon and Texas. 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.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

Going Concern

SEPTEMBER 11, 2023

audit, tax and advisory firm, today announced the establishment of an AI and Digital Innovation group led by a newly named Vice Chair, Steve Chase. New data from payroll processor ADP, released this week, show that promotions increase the chance that a person will leave their job.

Account 104

Account accountant accounted audit 104

ThomsonReuters

FEBRUARY 7, 2024

Efforts to rescind 2021 rule and new rule Despite efforts by the DOL under the Biden Administration to delay and withdraw the 2021 rule, a federal district court in the Eastern District of Texas issued a decision vacating the DOL’s attempts to remove it.

Legal 52

Legal payroll Texas New York 52

ThomsonReuters

JUNE 28, 2023

Recently, Checkpoint Payroll Update  had the opportunity to speak with two labor and employment law specialists and subject matter experts. 5th 903 ruling with an ABC test (see Payroll Guide ¶19,045 ) that generally considers all workers employees unless the employer can prove each part of the three-factor test. That said, can A.I.

Legal 98

Legal payroll California audit 98