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Your 10-step checklist for end of financial year in 2024

Xero

We know end of financial year is a busy time, so we’ve prepared a quick 10-step checklist to help you cover your bases at the end of FY24 and start the new financial year off strong. Evaluate your business expenses You may be able to claim business expenses in your tax return to reduce the total tax you need to pay.

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Top 10 tips to streamline your 1040 tax workflow

ThomsonReuters

But these inefficiencies are fixable thanks to advancements in technology that are making it easier than ever for tax professionals to access the tools to revamp their workflows and eliminate these frustrating inefficiencies. Tax season can be a stressful and hectic time for both tax professionals and their clients.

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6 (Not So) Simple Steps to Sales Tax Compliance

TaxConnex

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side. Determine Nexus.

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The Definitive Accounting Workflow Guide

Ryan Lazanis

As an example, if you complete a tax return, in the same way, every time, then you likely have a workflow in place. Here are the key benefits of implementing workflows: Faster, easier growth: It’s easier to grow when you can produce repeatable results in key areas of the business. What is a Workflow? why do we do that?”).

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How to survive tax season

ThomsonReuters

As accountants, there’s no way to avoid the hectic nature of tax season. How can I make my tax season easier? Own your time Your time is precious—and it can very easily be consumed during tax season. To get ahead of the stress, carve out dedicated personal time now, before you’re deep in the trenches of tax season.

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Frequently Asked Questions About Salary and Dividends by Owners of Corporations

Ronika Khanna CPA,CA

I have addressed some of them in my blog posts on the factors to consider when choosing salary or dividends and the types of ways to structure your remuneration. These amounts are reported as employment income on your personal tax return. The amount is then reported as dividend income on your tax return.

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Preventing misapplication of GAAP standards

ThomsonReuters

To help ensure that financial reporting is transparent and investors have the most accurate and timely information they need to make informed investment decisions, public companies must disclose certain financial, and other information, to investors. What are the major GAAP principles?