Money Talk

JULY 29, 2022

Below are seven suggestions to protect private information and reduce your chances of becoming a fraud victim: Practice Cyber Hygiene - Successful fraudsters successfully reach victims through their “weakest link.” It might be something as simple as a weak password or someone revealing TMI (too much information) online.

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Banking Pension Media Finance 275

Money Talk

DECEMBER 7, 2023

As the year winds down so, too, does your opportunity to take proactive steps to reduce 2023 income tax due in April 2024 and, perhaps, taxes due in future years as well. Below are some money-saving tax planning strategies to consider. tax-deferred retirement plan contributions and charitable gifting) are already accounted for.

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Taxes Retirement Plan Deductions Deductible 206

Money Talk

JUNE 8, 2022

A big concern of people with multiple income streams is adequate tax withholding. Nobody want to pay the IRS tax underpayment penalty, which is 0.5% of the amount owed for each month or partial month of unpaid taxes. mutual fund dividend and capital gain distributions), and tax withholding. In other instances (e.g.,

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Taxes Pension Deductions Deductible 278

Money Talk

SEPTEMBER 14, 2023

One of the niche audiences for my business, Money Talk , is older adults grappling with financial issues such as creation of a retirement “paycheck,” paying taxes on required minimum distributions (RMDs), and simplifying financial accounts. Tax-free accounts (e.g., Tax-free accounts (e.g., Tax-deferred accounts (e.g.,

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Taxes 401(k) Retirement Plan Pension 194

Money Talk

MAY 18, 2022

Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022. Planning now provides seven months to take action and/or implement changes to avoid a stressful “tax scramble” at the end of the year. assets that are taxed in different ways).

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Taxes 401(k) Deductions Deductible 263

Money Talk

JUNE 13, 2024

With the 2023 tax filing deadline in the rear view mirror, now is a good time to look ahead to 2024 taxes that you will owe in April 2025. This post extends that discussion with a description of seven key steps to take to plan for your 2024 tax return due in 2025. The IRS withholding estimator can help make this calculations.

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Taxes 401(k) Retirement Plan Health Savings Account 125

Money Talk

MARCH 4, 2022

All of these events impact income taxes. This post describes thirteen tax-related topics (in no particular order) that people should be familiar with in later life. Income taxes on RMDs need to be planned for with tax withholding by the plan custodian or quarterly estimated payments to the IRS. Part B premium.

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Taxes 401(k) Deductions Deductible 245

Money Talk

FEBRUARY 23, 2023

Knowing your tax rate can help you prepare a tax return and take action(s) to reduce your tax liability. Do you know your federal income tax rate? You may actually have several different tax rates (e.g., This post describes the different federal tax rates that apply to taxpayers. a year and a day or longer).

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Taxes Retirement Plan Finance Commissions 188

Money Talk

MARCH 22, 2023

With 2022 income tax season well underway and almost three months already passed in 2023, now is an appropriate time to review some evergreen tax planning tools and techniques. A larger standard deduction means that taxpayers can shelter more income from income taxes. an elective surgery) that exceed 7.5%

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Taxes 401(k) Deductions Deductible 189

Money Talk

MARCH 29, 2023

Last year, I wrote a post that described the pros and cons of filing your income taxes by paper or electronically (e-filing). Looking back, it was also a “personal pep talk” for me because I knew I was part of a dying breed of paper income tax filers. of tax returns are filed by paper or, in numerical terms, nearly 13.2

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Money Talk

APRIL 14, 2022

The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.

Taxes 189

Taxes Family and Medical Leave Act 401(k) Deductions 189

Money Talk

JUNE 16, 2022

If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.

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Taxes 401(k) Retirement Plan Pension 188

PayrollOrg

OCTOBER 17, 2023

PayrollOrg’s Government Relations Task Force commented on the IRS’s information collection notice on federal employment tax forms in September.

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Taxes Employment Government 129

Qandle

DECEMBER 11, 2023

Human Resources Information Systems (HRIS) are software solutions designed to streamline and enhance various HR functions within an organization. HRIS serves as a comprehensive database for employee information and supports a wide range of HR activities. What Is HR Information Systems ? Check out the HR Information Systems.

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Human Resources Payroll Software Retirement Plan 81

Business Management Daily

JULY 28, 2022

For its part, the IRS is bound by IRC § 6103 to keep taxpayers’ tax information, including even taxpayers’ names, confidential. The firm’s policy is to discipline attorneys who don’t properly fulfill their tax obligations. The IRS serves a levy notice with respect to his tax liability on the firm’s payroll department.

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Taxes Payroll IT Payroll Manager 59

Florida Workers' Comp

JANUARY 18, 2024

You only have to pay taxes and die (that is a rough adaptation of Benjamin Franklin's "Nothing is certain except death and taxes"). There were various delays, but the "referee" (a Circuit Judge) gathered all of the information and filings by early December 2021. This is the part where we come back to death and taxes.

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Taxes Government IT 80

Money Talk

FEBRUARY 25, 2022

I am one of the 10 million or so tax filers that the IRS probably hates. I continue to file my taxes on paper. But the process is cumbersome and it is so much easier for me- as an admitted frugal tax geek- to fill out paper forms, double check my math, and priority mail my tax return. It is like piecing together a quilt.

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Taxes Electronics Software Finance 100

Qandle

DECEMBER 14, 2023

The advent of technology has transformed HR processes, and one of the key innovations is the HR Management Information System (HRMIS). Understanding HR Management Information Systems & Key Features HRMIS is a comprehensive software solution designed to streamline HR processes and enhance the overall efficiency of workforce management.

Management 70

Management Human Resources Payroll Software 70

WEX Inc.

JUNE 20, 2024

Tax deductions if you have a fleet of commercial vehicles Are you a small or large business owner with commercial vehicles, or a fleet manager? Calculating your commercial vehicle spend and how it will be impacted at tax time, including mileage and leasing, can make a huge difference in your overall expenses.

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Bonuses Taxes Deductions Deductible 98

HR Lineup

DECEMBER 5, 2023

In the fast-paced world of taxation and financial management, staying ahead of the curve is crucial for tax professionals. As we step into 2024, the demand for efficient, user-friendly, and comprehensive tax practice management software has never been higher.

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Taxes Software Management Electronics 74

HR Digest

JUNE 23, 2023

Imagine a scenario where you are rewarded with a hefty sum of $26,000 per employee, just by gathering some data and filling out a tax form. Well, this isn’t a fantasy, it’s the reality of the Employee Retention Tax Credit (ERC). Your ERC Tax Credit is on its way! Sounds like a dream, right? Yes, you read that right.

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Taxes Government Employee Retention Consulting 97

Money Talk

NOVEMBER 14, 2024

tax laws and retirement account rules) rather than elections themselves. Tax Planning - Run projections of next year’s tax liability and make fourth quarter adjustments, if necessary. IRMAA is not a tax, per se, but it is a drag on older adults’ bottom line. SALY (same as last year) is rarely a good strategy.

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Finance Taxes Education IT 139

HR Bartender

JULY 11, 2023

A great example of this is my taxes. Can I prepare my own taxes? The time I spend doing tax-related stuff could be better spent generating revenue by working on client projects or building my business. I must keep my employment tax knowledge current. I must keep my employment tax knowledge current. Yes, I can.

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Taxes Employment Payroll Payroll System 86

WEX Inc.

MARCH 7, 2023

The season for filing taxes is upon us once again. We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld.

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Taxes Health Savings Account Deductions Deductible 98

Kollath CPA

MARCH 9, 2022

You don’t generally have to withhold or pay any taxes on payments to independent contractors, as you do with employees. For an official ruling, you can file Form SS-8, Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding, with the IRS. You can file these forms electronically.

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Taxes Electronics Pension Software 98

Kollath CPA

JANUARY 13, 2022

What Exactly Is a “Tax Year”? A tax year is an annual accounting period for keeping records and reporting income and expenses. Types of Tax Year. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but doesn’t have to end on the last day of the month. Calendar Year.

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Taxes Consulting Employment IT 98

Kollath CPA

DECEMBER 9, 2021

If you’re running a business, you’re on the hook for a variety of taxes. But What Taxes Do Businesses Have To Pay? Let’s take a look at the main categories: Income tax . All businesses except partnerships must file an annual income tax return. Partnerships file an information return.)

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Taxes Manufacturing Transportation Retail 95

HR Lineup

FEBRUARY 16, 2023

While the service is primarily known for its ease of use and convenience, it is important for users to understand the tax implications of using Cash App. This income is typically reported on a 1099 form, which will be provided to you by Cash App if you earn more than $600 in a given tax year.

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Taxes Deductions Deductible Consulting 52

Money Talk

JUNE 28, 2023

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. The 2023 maximum pre-tax contribution is $3,050.

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Flexible Spending Account Banking Health Savings Account Taxes 242

Business Management Daily

MARCH 16, 2023

Tax home You can reimburse employees for their travel expenses when they travel away from their tax home on business. Tax homes aren’t employees’ homes, unless they’re working from home. Tax homes are employees’ regular or main place of business. Figuring out employees’ tax homes is the easy part.

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Taxes Work From Home Management Employment 59

HR Lineup

JANUARY 2, 2022

Filing federal and state tax returns online can be challenging and overwhelming for employers. Since the process needs to be seamless and fast, employers are looking for effective tax filing solutions. Luckily, there are tax software programs out there to simplify filing tax returns.

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Taxes Software Payroll Deductions 79

Business Management Daily

AUGUST 2, 2023

mail for their own nefarious purposes, the main avenues for tax scams remain email and text messaging—these methods reach many more people at a fraction of the cost of a stamp. It would be good to inform employees about these scams. We are writing to inform you abount an important matter regarding your recent tax return filing.

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Taxes Government Commissions Banking 52

Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Plus, any interest earned on the account is tax free and the money is ALWAYS yours! Set SMART Goals.

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Utilities Taxes Flexible Spending Account Flexible Spending 98

Qandle

SEPTEMBER 20, 2023

Payroll taxes are a crucial aspect of every employer’s financial responsibilities. These taxes are collected to fund various government programs and benefits, including Social Security, Medicare, and unemployment insurance. These withheld taxes are then remitted to the Internal Revenue Service (IRS) on a regular basis.

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Taxes Payroll Employment Deductions 52

Money Talk

APRIL 11, 2024

The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions. money that has been taxed) and can be withdrawn at any time for any reason tax-free and penalty-free.

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401(k) Taxes Retirement Plan Pension 185

Workplace Insight

MAY 23, 2024

Accountants warn that employees who relocate abroad while working for a UK-based company could end up paying income tax in both countries, on top of social security contributions in their host nation. A recent report by RSM , a tax advisory firm, claims that over a third of UK employers now allow staff to work outside the country.

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Taxes Deductions Deductible Work From Home 59

Professionals Alternative

APRIL 13, 2023

How To Find the Right Tax Accountant Taxes can be confusing and overwhelming for most people. If you are filing taxes or dealing with tax debt, you’ll want to figure things out when time isn’t on your side. That’s where a tax accountant will come in handy. So it will be wise to ask people in your network.

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Taxes Mining Deductions Deductible 52