Resources

Do You Have an Employee in Another State? What Your Business Needs to Know

As your business grows, you may find yourself hiring employees out of state. While growth is great, keeping up with the payroll compliance in each state can feel like trudging through murky waters. States have varying requirements related to withholding income tax and paying unemployment tax.  Additionally, states have increased their tax compliance efforts over the years making it even more necessary that employers be aware of their responsibilities. So, if you have an out-of-state employee, here’s what you need to consider:

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Mid-Year IRS Updates: What You Should Know

We’re nearly halfway through 2018, which is a perfect time to review a few of the key updates that the IRS has made. We know that staying on top of the IRS’s continually evolving guidelines can be challenging, so here are the most important items that you should know:

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The Truth About the Marriage Penalty

Marriage, like every major milestone, brings a multitude of changes. If you’re recently married or engaged, you may not be thinking too much about your taxes yet. But many newly married couples are surprised to discover how marriage impacts their tax situation. After marriage, a couple’s tax liability can go up or down compared to when they were single.

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Important Changes to Illinois Sales Tax Rate 7/1/18

We wanted to let you know that effective July 1, 2018 certain taxing jurisdictions in Illinois have imposed a local sales tax or changed their local sales tax rate on general merchandise sales. To be in compliance with the new tax rates, you must adjust your point of sale and/or accounting system to collect the correct sales tax effective July 1, 2018.

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11 Common Errors in Preparing Your Nonprofit Form 990

Filling out the Form 990 timely and accurately is critical to all nonprofit organizations trying to comply with IRS requirements, validate their exempt purpose, and attract responsible donors. Errors in filling out the form can lead to misinterpretation of your organization or worse: an assumption that you may be one of the fake organizations. Here are 11 common errors to avoid.

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The Latest on Illinois Tax Reform

During tax season we focused on bringing you the latest news regarding the Federal 2017 Tax Reform and how it will impact businesses and individuals. While in many instances this tax reform will decrease your federal tax, Illinois has been moving in the opposite direction. 2017 brought along many Illinois changes to individual and corporate income taxes and we have highlighted some of these changes below.

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7 Ways to Maximize QuickBooks for Next Tax Season

With tax season behind us, we thought it would be helpful to share a few challenges that we encountered with our QuickBooks clients this year. These challenges added additional barriers and complications during tax season. By being proactive and taking action now, you can help make next tax season much easier to navigate.

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VIDEO: Cray Kaiser’s 2018 Tax Interns

Each year at Cray Kaiser our team gets to work with a talented group of interns that are eager to learn and grow their tax skills. With the 2017 tax season behind us, here’s what our 2018 interns had to say about their experience at CK.

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2017 Tax Reform Reflections

We believe the Tax Reform will bring a number of opportunities to reduce taxpayers’ overall tax burden. The key is being proactive, and for us, being up to speed on what we expect to be a number of regulations clarifying the new provisions.

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