LyfeAccounting

APRIL 27, 2021

But in today’s post, we’ll actually be explaining why having a huge tax refund or any refund at all is not necessarily a good thing and the reasons might surprise you. What is a Tax Refund? Well, it’s not just free money from the government (though it might feel that way). Other Reasons for Tax Refunds.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Combined, 7.65% in FICA taxes. Federal Unemployment Tax Act. FUTA is a 6% tax based on the first $7,000 of wages you pay each employee.

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LyfeAccounting

APRIL 22, 2021

Let’s start by understanding the number one thing Amazon does to write off taxes. How to Write Off Taxes Like Amazon. See, credits provide a dollar-for-dollar reduction of your income tax and are given by the government to reward certain types of behavior that benefit the US economy. How to Write Off Taxes Takeaways.

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LyfeAccounting

JULY 16, 2021

And this is related to the millions of people who were wrongfully taxed last year on their unemployment compensation. If you lost your job last year and started collecting unemployment benefits from the government, this update applies to you. For this round, the IRS identified about 4.6

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LyfeAccounting

MAY 27, 2021

If it is your first time owing additional taxes, you can actually call the IRS and request a first-time penalty abatement. This would eliminate the tax penalties they added to your account. From there, they can look up your account and remove the additional fees. Or, contact us today to talk to one of our tax experts!

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LyfeAccounting

MARCH 10, 2021

To elaborate further, our taxes help pay for government funding, which the government helps provide so many benefits for our country. So when you owe money and you’re late filing taxes, the government has less funding and you’re penalized for that. Owing Interest.

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LyfeAccounting

JULY 7, 2021

In most cases, your local government will send out a notice with your property tax assessment. And then, you can look at what they are paying in property taxes in comparison to you. Most local governments have public databases that allow you to see this information. Read your assessment letter.

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LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

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LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

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Accounting Insight

FEBRUARY 1, 2024

Such a business tax enquiry is not to be confused a regular compliance check into personal tax returns or simpler corporation tax returns, which typically focus on a single tax year or accounting period, and sometimes just a handful of aspects. This is what sets apart an HMRC business enquiry.

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LyfeAccounting

AUGUST 10, 2021

Not to invest in stock markets, real estate, or your business. . But no, literally, just to pay taxes to the government. It was written to grow the economy, boost jobs, provide affordable housing, and promote many initiatives that the government relies on to provide for its citizens. Be sure to read that next.

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LyfeAccounting

JUNE 11, 2021

So if you were 1 of the millions of Americans who lost their jobs in 2020 and started collecting unemployment compensation from the government, this applies to you. Who Should Be Receiving a Tax Refund. Now to be clear, this is considered a tax exclusion. You would first need to have an account set up with irs.gov.

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Ryan Lazanis

APRIL 4, 2022

Do you want to know how to start a bookkeeping business or accounting firm in 2022? In fact, these are the very steps that I followed to help take my heavily bookkeeping-focused accounting business from scratch to sale in only 5 years. Without it, I would be steering a business without a rudder.

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LyfeAccounting

DECEMBER 30, 2020

So by the end of this post, I expect you will know more about the tax system and what you can do to start paying less taxes. And we always advise that you speak to your accountant or lawyer for specific recommendations for you. If you earn a paycheck from an employer, odds are you elected to have your taxes withheld.

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