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Tax Deductions Guide 2021

inDinero Tax Tips

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. . Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

Tax 52
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QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

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How Paying Off Your Student Loans Could Increase Your Retirement Benefits

Withum

A student’s cost of attendance generally includes tuition and fees (net of certain amounts including scholarships) and an allowance for room and board, books, supplies, transportation, and miscellaneous expenses of the student. Business Tax Services. Contact Us. Contact Us.

Education 129
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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. The New York PTET allows partnership (including LLCs) and S corporation entities to make an annual election to pay an entity-level tax. PTET Income Tax Addback.

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Is the Future of Cannabis in the Hands of E-Commerce?

Withum

Specific to the cannabis industry, regulations have to do with handling, transport and sales in general. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Author: Kim Gordon | kgordon@withum.com. Contact Us. Let’s Chat. appeared first on Withum.

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How to Deduct Business Expenses While on Vacation

CPA Practice

Deductions for business travel can be available when someone must travel away from their tax home or main place of work for business reasons. This includes all costs associated with travel by airplane, train, bus, or car between your home and your business destination. Use of your personal vehicle for business trips.

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6 Bookkeeping Habits to Help Landscaping Company Manage Cash Flow

Steve Feinberg

Instead, landscaping companies need to take jobs that will pay more than that business’ combined expenses to complete the job—and this is where things can get tricky. Labor, insurance, taxes, materials, repairs, etc.—all It’s natural to feel a little overwhelmed by the extent of the accounting side of a business.