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Hybrid and remote workers who commuted to another state to work in 2023 may face an ugly surprise for tax season: double state taxation.
Remote work is often appealing to employees seeking more flexibility, but in some cases remote work can also offer tax advantages alongside reduced housing and transportation costs.
Remote workers could face double taxation Some employers continued remote and hybrid work into 2022. If your employer is outside the state where you worked remotely, there may be tax implications ...
Remote workers are subject to taxation based on a combination of factors including their residence, the location of their employer, and the specific tax laws of the relevant jurisdictions. Generally, remote workers are taxed in accordance with the rules and regulations of the jurisdiction in which they reside.
Major metropolitan areas could face the loss of considerable revenue if the US Supreme Court upholds a bid to restrict how states can tax workers who no longer commute. The Wall Street Journal ...
Remote workers who have moved to different states since the COVID-19 pandemic began could find the going complicated when they file taxes next year. See: US Productivity: How It Affects Your Job
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
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