MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

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Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. Contents: 1.

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CPA Practice

MAY 10, 2023

New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. The move has been touted as something that can help smaller operators even more.

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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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Ronika Khanna CPA,CA

JANUARY 27, 2023

and it is time for business owners (and individuals) to start thinking about one of their favourite subjects i.e. taxes. I have compiled a list of the deadlines that all of you should know and also updated my annual business tax deadline calendar. These deadlines relate to unincorporated business owners.

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inDinero Tax Tips

MAY 10, 2023

Tracking expenses and claiming all of the small business tax deductions you’re eligible for can add up to substantial savings, especially for start-ups that reinvest aggressively as they scale. Many popular tax software are, of course, designed to help you through these startup tax deductions.

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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn.

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VetCPA

MARCH 16, 2022

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership.

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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MyIRSRelief

OCTOBER 18, 2021

If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? Here’s a look at several different types of IRS federal tax credits and at whether or not you could be eligible. Earned income tax credit.

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Ronika Khanna CPA,CA

JANUARY 3, 2022

With the beginning of a new year upon us, tax submission deadlines for individuals and businesses are starting to loom. Every small business owner must adhere to these deadlines or risk facing penalties for late filing of returns plus interest on any overdue balances. Learn more. Available at Amazon.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes?

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ThomsonReuters

DECEMBER 19, 2023

Jump to: What environmental tax breaks are available? Helping your clients with claiming environmental tax credits As sustainability initiatives gain momentum, the IRS continues to encourage environmentally conscious actions through a range of tax incentives. What environmental tax breaks are available? 

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CPA Practice

JUNE 21, 2023

One crucial aspect of wealth management is creating a holistic financial plan that includes your estate and tax strategy. By employing effective estate and tax strategies, business owners can optimize their financial legacies and minimize tax hurdles. Here are four strategies to consider adding to your financial plan.

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inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. The court focuses on business law, with an extensive history of resolving corporate disputes.

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Ronika Khanna CPA,CA

SEPTEMBER 22, 2023

This is especially true with respect to the more technical aspects of business such as accounting and tax. While you may not see yourself as a business owner, the tax authorities do and they, unfortunately, have the final say on this. Digital Download Available at Amazon 1.

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ThomsonReuters

DECEMBER 19, 2023

Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? To encourage this shift, the IRS offers a range of renewable energy tax credits for alternative energy sources like solar, wind, and geothermal power.

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Read on to find out.

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SkagitCountyTaxServices

MAY 26, 2021

But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. (Of Of course, you have MANY more tax-savings opportunities as well.). Some of these penalties are straightforward and simple.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Deductions work by reducing your total gross income.

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ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

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ThomsonReuters

DECEMBER 11, 2023

Accounting for tax equity investments Implementing ASU 2023-02 Accounting professionals with equity investor clients who are involved with projects to receive income tax credits and other income tax benefits need to have a clear understanding of the proportional amortization method (PAM), especially in light of recent changes.

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inDinero Tax Tips

JUNE 7, 2023

Recently, the agency revealed they’ll use some of those funds to hire thousands of agents to audit the filings of wealthy individuals and corporations to close “the tax gap.” Let’s look closer at where these funds will go and what implications the changes may have for taxpayers and business owners. How Will the IRS Use the $80 Billion?

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ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. Does every corporation file income tax returns?

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Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

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inDinero Tax Tips

JUNE 12, 2023

Quite a few issues can arise if you mix your business and personal funds— from minor inconveniences to high financial costs and even legal trouble. Future investors or creditors will want to know your financials, not to mention the confusion this will bring come tax time. Last quarter? Proceed with caution.

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inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex. Let’s dive in.

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inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex. Let’s dive in.

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ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. What is a C Corporation?

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Withum

NOVEMBER 29, 2023

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.

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xendoo

AUGUST 24, 2021

How do taxes factor in? Tax filing is simplified too! To estimate how much you can draw and when you must: Set up a separate business bank account. As a sole proprietor, you do not need to incorporate or register your business. Once your DBA is set up, you can open a business bank account. How to Pay Your Taxes.

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ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR. Does the U.S.

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xendoo

JULY 6, 2023

However, businesses tend to have more complex tax returns, so auditing is a concern. Typically, the IRS only goes back to audit tax returns that you’ve filed within the last three years. For example, online bookkeeping and business tax services can file accurate returns, on-time for you so you avoid common audit triggers.

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xendoo

JULY 6, 2023

However, businesses tend to have more complex tax returns, so auditing is a concern. Typically, the IRS only goes back to audit tax returns that you’ve filed within the last three years. For example, online bookkeeping and business tax services can file accurate returns, on-time for you so you avoid common audit triggers.

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inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. Regarding potential business structures, should you convert LLC to S corp or C corp? An S corp is a business structure that is treated like an LLC except for taxation purposes. What is an S Corp?

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inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. Regarding potential business structures, should you convert LLC to S corp or C corp? An S corp is a business structure that is treated like an LLC except for taxation purposes. What is an S Corp?

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