CTP

APRIL 29, 2022

One of the many benefits of working with a tax professional is the guidance they provide in developing tax return positions that substantiate why certain income qualifies for tax-exemption or why you are eligible for a certain tax deduction. This is actually a lower standard than some may assume.

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tax preparation Tax tax return cpas 52

CTP

NOVEMBER 9, 2023

Planning for retirement also means planning for retirement income taxes. Creating a tax plan for retirement will ultimately allow you to spend less money on taxes and put more toward the lifestyle you want. Pre-tax retirement funds. However, withdrawals from these accounts are taxed at ordinary income rates.

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CTP

NOVEMBER 16, 2023

From a tax perspective, partnerships are often viewed as too complicated and can come with tax disadvantages when you have non-passive partners involved. However, partnerships are also the only entity type that allows for special tax allocations. What does it look like to set up special tax allocations?

Tax 52

Tax Non-Profits income tax tax planning 52

CTP

SEPTEMBER 27, 2023

The world of tax law has a reputation for being complicated. This is certainly true, not only because the Tax Code can be difficult to interpret and confidently apply to real-life situations, but also because the rules are constantly changing. Why is the IRS Coming After Conservation Easements?

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CTP

DECEMBER 28, 2023

to foreign countries, you will want to familiarize yourself with this tax incentive: the interest charge domestic international sales corporation, more commonly known as the “IC-DISC.” This IRS election can allow some or all of the taxable income from your export sales to be taxed at a lower rate. Who Qualifies for an IC-DISC?

Tax 52

Tax Manufacturing Agriculture income tax 52

ThomsonReuters

FEBRUARY 2, 2022

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. To stay up to date on industry news and developments, feel free to sign up for our daily tax and accounting newsletter or explore our continuing professional education for CPAs with Checkpoint Learning.

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accounting firms Account accountant accounted 98

CTP

SEPTEMBER 27, 2023

For landowners and investors alike, conservation easements have been a way to contribute to future generations and get a substantial tax break in the process. Until recently, landowners had the option to donate their land as a conservation easement and receive a federal tax deduction equal to the value of their donation.

Tax 52

Tax Real Estate Legal B2C 52

CTP

OCTOBER 2, 2023

What would you do for a lower tax bill? One of the most underutilized tax strategies is to identify and claim tax credits. Many taxpayers may find that they qualify for a tax reduction based on behavior or practices they are already engaged in. The IRS last calculated the impact of this tax credit in 2016.

Tax 52

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CTP

NOVEMBER 23, 2023

One of the hidden benefits of setting up your business as a partnership is the ability to use special tax allocations. Because a partnership is a pass-through entity, income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates. What is substantial economic effect?

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Tax tax return income tax tax planning 52

CTP

NOVEMBER 2, 2023

As people explore their options for retirement income, they don’t always take into consideration the tax implications. The percentage of your retirement income that gets redistributed to taxes could considerably impact your quality of life during retirement—if you don’t have a plan in place. Investing for Income. Capital Gains Top-Up.

Tax 52

Tax tax planning Real Estate Sales 52

CPA Practice

FEBRUARY 1, 2024

SMBs said they’re relying on credit cards as funding sources, while entrepreneurial hopefuls said even a bigger tax return could help them secure the funds they need to start their businesses. You can also advise them in finding savings, whether through restructuring the business, minimizing tax liability, or other creative solutions. #2:

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PYMNTS

DECEMBER 7, 2020

And the surge in eCommerce isn't isolated to the B2C world, either: as social distancing requirements and shutdowns migrate corporate buyers online, wholesalers, distributors and other B2B vendors are likely to face a similar holiday boon this year to fulfill rising customer demand. The company now operates in the U.K.,

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Finance B2C B2B accounting and finance 142

VJM Global

FEBRUARY 6, 2023

The indirect tax imposed on goods or services forms a significant part of government revenue and it also has a direct impact on inflation as it increases or decreases the cost of products. Therefore, changes in indirect tax form a significant part of the Union budget , and the entire industry keeps a close watch on the same.

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CTP

OCTOBER 31, 2022

Selling your business may not be as profitable as you expect, especially if you have not taken the tax consequences into consideration. Business owners need to be prepared with a tax strategy before selling some or all of their shares or business assets. The double tax effect dramatically reduces the profits from the sale.

Tax 52

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CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software. By Dominique Molina, CPA MST CTS. There are many choices out there.

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tax planning Tax tax return Construction 52

CTP

NOVEMBER 1, 2022

Business owners looking to maximize their profits from selling their shares or assets will need a strategy to reduce the tax consequences. This is especially true for the sale of a C corporation since this business type is taxed separately from its owners. This can dramatically reduce the profits of that sale.

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CTP

APRIL 15, 2022

As news headlines proclaim stories of tax fraud, taxpayers may wonder how they can trust that their tax preparer is abiding by ethical practices. Known as Circular 230 , this publication contains the guidance needed for responsible and well-trained tax professionals to ensure they are making decisions in step with current tax law.

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tax preparation Tax tax return tax planning 52

PYMNTS

JANUARY 10, 2019

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. B2C disbursements account for more than 3.5

Tax 48

Tax income tax B2C tax preparation 48

CTP

MAY 12, 2023

When you use a vehicle for business, the tax benefits available go beyond the date of purchase. For instance, you may have heard the advice that “ if you own a business, you’re married, and your spouse has a car, just drive their car occasionally so you can claim their vehicle on your business tax return.”

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CTP

MAY 10, 2023

The Internet abounds with incorrect interpretations of the rules around vehicle tax deductions. Saving on taxes by using your car for business sounds convenient and appealing, but understanding the actual guidelines is key for this strategy to be effective. What steps do you need to take to gain tax savings for your business vehicle?

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CTP

MARCH 10, 2023

How do you know if your rental property qualifies for the 20 percent tax deduction under new tax code Section 199A? Just what we need–something else to learn along with all of the other tax code changes this year. Schedule E rentals also qualify for even sweeter tax benefits. Well, maybe not.

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CTP

AUGUST 17, 2023

Unfortunately, these mills provide very few details on how to ensure you actually qualify for the tax credit. That’s why working with a Certified Tax Planner can be so beneficial for business owners who believe they may qualify for this credit. Any sales tax collected will not count either.

Tax 52

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PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. When [eCommerce companies] can’t get through the language barrier, the outcome is large-scale tax evasion, whether through ignorance, or whether through deliberate actions across the world.”.

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Tax B2C Legal tax return 49

CTP

OCTOBER 18, 2022

But you may not be aware that the tax consequences of renting to related parties are different from renting to others and may easily trigger a trap that reclassifies rental property into a personal residence. Tax rules for real property vary depending upon its classification under 26 U.S. Real estate taxes. Under 26 U.S.

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Real Estate Tax tax planning Legal 52

CTP

JUNE 10, 2022

This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making. An S corporation might have accounts receivable, notes receivable, or tax receivable.

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Sales Tax income tax tax return 52

PYMNTS

JANUARY 8, 2020

Yet, as Tony Horling, founder and CEO of InTu Mobility , recently told PYMNTS, mPOS technologies designed for business-to-consumer (B2C) payments won’t cut it for multibillion-dollar enterprises that need to accept B2B payments in the field. Benefits For Payers.

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B2B B2C Technology Account 56

VJM Global

JANUARY 22, 2024

Section 73(10) specifies time line for determination of tax not paid or short paid or Incorrect ITC Claimed. Such notice shall be issued in form GST DRC-01 and Proper officer shall issue the final order determining the tax payable in Form GST DRC-07 after considering the submission made. 56/2023- Central Tax dated 28th December, 2023.

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Tax B2C B2B Legal 40

PYMNTS

NOVEMBER 4, 2020

As more B2B companies look to deliver B2C experiences through digital channels, they need access to accelerators such as our FastTrack Commerce that can address this customer-driven imperative, quickly and cost effectively,” said Paul Lynch , area vice president and managing director of LiveArea EMEA, according to the release.

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CPA Practice

JANUARY 23, 2024

For example, maybe you can work with a financial planner to host a tax planning workshop and share your knowledge. Over 70% of B2C marketers leverage content marketing. You may also want to consider co-hosting or partnering with others to host events and webinars. Focus on connecting with people who serve a similar audience to yours.

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CPA Practice

JANUARY 22, 2024

For example, maybe you can work with a financial planner to host a tax planning workshop and share your knowledge. Over 70% of B2C marketers leverage content marketing. You may also want to consider co-hosting or partnering with others to host events and webinars. Focus on connecting with people who serve a similar audience to yours.

Account 69

Account accountant accounted B2C 69

VJM Global

JANUARY 5, 2023

Considering the representations received, the department has clarified that how the difference should be dealt of Input Tax Credit appearing in GSTR-2A and ITC claimed in GSTR-3B for FY 2017-18 and 2018-19 vide Circular No. 183/15/2022-GST dated 27th December, 2022 , wherein following points are clarified: 1.

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cma Tax audit chartered accountant 52

VJM Global

JULY 20, 2022

Return filing under Goods and Service Tax (“ GST ”) is a key element and it is necessary to furnish correct information in returns. Incorrect Place of Supply is declared in both the Tax invoice and Table 3.2 With effect from December 2020 , FORM GSTR-3B gets auto-generated on the portal. Out of supplies made in 3.1 (a) of GSTR-3B.

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E-commerce B2C Tax accounting and finance 52

PYMNTS

NOVEMBER 7, 2019

However, with cloud storage and computing a requirement for many businesses, with the surge of Software-as-a-Service (SaaS) and with B2C services like Amazon Prime embracing the B2B opportunity, recurring B2B electronic payments are an increasingly complex challenge for these service providers and the businesses paying them.

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Withum

FEBRUARY 9, 2024

Previously, we’ve covered the detailed accounting and financial reporting issues that technology and emerging growth companies run into when going through financial and tax due diligence for an M&A transaction. The risk of losing a customer can be a major concern during due diligence.

Technology 59

Technology B2C B2B Legal 59

CPA Practice

APRIL 29, 2024

Cytron Filing taxes for your clients doesn’t have to be a drain on your firm’s time, energy, and resources. Wrestling with sky-high tax season burnout and subpar work-life balance. Redundant and draining tasks that eat away at a tax professional’s time and energy. By Scott H. For many, this is “business as usual” at their firm.

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Tax tax return Technology bookkeeping 124

Mark Lee

JUNE 13, 2023

Instead of thinking about whether our Business (B) is selling to other Businesses (B2B) or to Consumers (B2C), we need to recognise that all of our sales and client relationships are dependent on Human (H) to Human interactions. If we work for a firm, large or small, the firm’s reputation and branding only gets us so far.

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Account accountant accounted Legal 59

PYMNTS

JANUARY 25, 2019

In terms of payments technology and alternative lending, B2C and B2B may be respectively seen as digital versions of the hare and tortoise. For those firms seeking access to credit, lenders will often start with the SMB principal’s FICO score or tax returns from the past few years, which can be an inefficient barometer of credit risk.

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B2B B2C accounting and finance Finance 63