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2023 Readers’ Choice Awards – The Readers Have Voted!

CPA Practice

And now, the results are in: IN-FIRM TECHNOLOGIES Federal/State Income Tax Preparation Insight : As was true in every year of voting, the tax prep system category is always the most voted-on, with nearly all respondents selecting a preferred system. WINNER: “Who has time to exercise?”

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Steve Padgett’s Latest Updates on Small Business Tax Deductions

SkagitCountyTaxServices

Per the Treasury , the bill will target tax increases on big corporations (raising the corporate income tax — i.e. C-corps — to 28%, among other moves) while protecting the majority of small businesses (around 97%). Did we mention tax courts? First off (and most importantly), plan ahead.

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20 Small Business Tax Deductions You Need to Know

xendoo

A tax deduction and tax credit can both save you money on taxes, but they are different terms. . Tax deductions can lower the amount of taxable income. For example, tax brackets–a range of annual income–are used for income tax. Therefore, there is no deduction for them.

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9 eCommerce Tax Deductions for 2021

xendoo

Meals with clients can also be deducted from your taxes, though only when these meals also serve as business meetings. If you and a client decide to see a movie or sporting event, these entertainment costs will not count among your normal and necessary business expenses. Don’t wait for tax season to start planning. Bank fees.

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Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

Miami Heat’s Duncan Robinson Jokingly Says He Has A New Job As An Accountant [ Sports Illustrated ] Miami Heat forward Duncan Robinson was recently seen on the street having some fun with a content creator who asked him what he does for a living. approved by the Board), and whether a report includes public quality control criticisms.

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Charitable contribution deductions: What U.S. accountants should know

ThomsonReuters

To see if the organization you have contributed to qualifies as a charitable organization for income tax deductions, use  Tax Exempt Organization Search. Charitable contributions to qualified organizations may be deductible if you itemize deductions on  Schedule A (Form 1040), Itemized Deductions.

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Friday Footnotes: Work-Life Balance, Does It Work?; Big 4 Firms Slash Job Postings; She Doesn’t Even Go Here! | 2.16.24

Going Concern

Apparently the local news has had this amateur CPA on their radar since at least 2020: Krystal clear – customer says shady businesswoman an “expert at frauding people” [ FOX 2 Detroit ] Krystal friended Chrissy on Facebook and said her company “Card Virtual Tax Service” could get her a big refund and take a percentage.