SkagitCountyTaxServices

MARCH 22, 2024

If you claimed and received the ERC, but were ineligible and need to repay it, you can go to the Voluntary Disclosure Program page and see if you can do that… and how to do it. Maybe you started the year with a bang, but the grind has set in and it feels more like, well, a grind. And you’re still scrambling, just like last year.

Start-ups 75

Start-ups CPA Account accountant 75

CPA Practice

APRIL 24, 2023

If you missed the tax deadline, it isn’t the end of the world, and IRS agents aren’t going to knock on your door anytime soon. The Internal Revenue Service says taxpayers who missed the April 18 tax-filing deadline should file as soon as possible. 16 to prepare and file 2022 tax returns electronically.

income tax 97

income tax Tax tax return online accounting 97

Withum

DECEMBER 20, 2023

The year is coming to an end and we face the hope and optimism of a better year coming to us. One thing that was really good this year was the stock market with huge gains pretty much across the board. Hopefully, the many years they will have these investments will provide huge gains for them. Not so good.

Start-ups 59

Start-ups Tax Account accountant 59

Xero

MARCH 19, 2023

But the promise of a new financial year brings the chance for small business owners to reset their work routines – creating new habits, goals and even wellbeing practices to make life a little easier. Despite continued uncertainty, year end is the ideal time to think about how you can set yourself up for success in FY24.

Start-ups 93

Start-ups tax planning Tax 93

PANALITIX

MARCH 14, 2021

Whether you’re buying a dishwasher or proposing tax services – there are some Terms and Conditions that are really important to understand from the outset and others that are probably not critical. Many engagement letters and proposals we see are text-heavy documents that go on and on and on for pages. RESOURCES / ARTICLES.

tax preparation 130

tax preparation Legal tax services Tax 130

PANALITIX

MARCH 7, 2021

Whether you’re buying a dishwasher or proposing tax services – there are some Terms and Conditions that are really important to understand from the outset and others that are probably not critical. Many engagement letters and proposals we see are text-heavy documents that go on and on and on for pages. RESOURCES / ARTICLES.

tax preparation 130

tax preparation Legal tax services Tax 130

Withum

DECEMBER 3, 2020

Withum has prepared a 48 page e-book with year-end tax planning ideas that is available for easy download. See link at end of blog.

tax planning 66

tax planning Tax 66

CPA Practice

AUGUST 10, 2023

The Treasury Department and the IRS on Thursday released final rules and procedural guidance for a new program established by the Inflation Reduction Act that provides bonus tax credits for qualified solar and wind facilities in low-income communities. Under the program, for example, certain energy projects in underserved U.S.

Tax 90

Tax Technology 90

Nancy McClelland, LLC

APRIL 5, 2024

As a CPA whose company works with loads of small businesses that need to process payroll, I’ve used quite a few payroll systems through the years… and Gusto has become our favorite. The previous SECURE Act credit was super-easy to claim, but this year, the Form 8881 was updated for SECURE 2.0

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Shay CPA

JANUARY 3, 2024

But it can also come with a major tax burden if you’re not careful. Once you start operating internationally, your startup could be subject to the local tax laws of your foreign customers. That could mean a higher income tax rate or more value-added tax (VAT) than you expect. Tax Residency.

Tax 52

Tax income tax CPA Account 52

Xero

APRIL 13, 2023

The biggest releases so far this year Foreign currency in new reports We’ve recently added foreign currency to new reports. If you have a Xero Premium plan and have added a foreign currency to your settings page, then you can jump in and give it a go. Here’s a sneak peek into our plans.

general ledger 130

general ledger Start-ups Tax Sales 130

CPA Practice

AUGUST 16, 2023

Now, as it turns out, we’re going to use a lot of code numbers here with you, but most of you who have done tax are used to hearing it that way. It’s relatively short, only about four pages long. So what do you think our tax preparer friends need to know? And for me, I’ve traditionally started with pub 5293. j away FTC.

Technology 96

Technology tax return Tax Start-ups 96

Going Concern

DECEMBER 22, 2023

PwC posted its summer 2025 internships for areas including tax and consulting in September, the earliest the firm has ever advertised internship positions, said Rod Adams, who leads hiring for the U.S. This year, PwC delayed about 600 full-time consulting hires’ start dates from August 2023 to January 2024. and Mexico.

auditor 96

auditor audit accounting firms accounting and finance 96

Shay CPA

JANUARY 17, 2024

It’s that time of year again. The beginning of a new calendar year means every business owner needs to put some thought into tax filings. Beyond filing for your own company, you also have fast-approaching responsibilities pertaining to your employee’s taxes and their ability to file.

Delaware 52

Delaware Tax income tax Iowa 52

AdviceForTaxpreparers

JULY 29, 2019

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. I put together this post to bring together any funny and entertaining accounting and tax videos, puns, jokes, pictures, etc. AT THE IRS “Why are we paying so much tax?” A Democratic tax preparer PTINs the tail on the donkey.

tax preparation 212

tax preparation Account accountant accounted 212

SkagitCountyTaxServices

SEPTEMBER 13, 2023

It’s been 22 years already. And over 3 million business applications have already been submitted through July of this year (compared to 4.4M If you’re reading this as a new-ish business owner or as one of those starting over from the beginning, let’s talk taxes. for all of 2019).

CPA 76

CPA tax return accounting and finance Start-ups 76

CPA Practice

DECEMBER 11, 2023

Conduct Your Year-end Review A year-end review is one of the tasks that many firms seem to skip because it’s time- and resource-intensive. How did it perform this year versus last year? Your year-end review will allow you to better understand how your processes and procedures are working for you.

Technology 45

Technology CPA Start-ups tax planning 45

Snyder

NOVEMBER 14, 2022

Tax season. The first four months of every calendar year are the time when accountants are at their busiest. From January to April, there are few things that accountants do besides tax filing. It takes years of experience to get used to it, but it seems you’re never ready. What is tax season like for accountants?

Account 98

Account accountant accounted Tax 98

inDinero Accounting

DECEMBER 1, 2023

Ask any entrepreneur, and they’ll tell you strategy and planning are essential when it comes to running a business. One of the first things you need to plan for is your business start up costs. We’ll also identify what the IRS officially regards as startup costs, so you can strategically time your expenses to maximize tax efficiency.

Start-ups 52

Start-ups Tax tax return B2C 52

xendoo

JANUARY 12, 2022

This year, make things easier on yourself by planning ahead. You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments.

business tax 98

business tax Tax tax return tax preparation 98

Withum

NOVEMBER 28, 2022

Understanding and reviewing your current 1099 process before year-end will help your finance department obtain any missing or incorrect information on time. Even if numerous vendors were not marked as eligible during the year, Sage Intacct easily tracks and updates their transactions, including vendors with multiple 1099 types.

accounting and finance 52

accounting and finance Technology accounting software Tax 52

Withum

SEPTEMBER 14, 2022

While we’re waiting on the IRS to ramp up, now is a good time to take the opportunity to reassess your tax “strategies” and compliance. The IRS is aware of the “creative” schemes some taxpayers employ to lower their tax bills. 10 Troublesome Tax Schemes. As the saying goes, the best offense is a great defense.

Tax 105

Tax tax return audit Entertainment 105

Snyder

NOVEMBER 27, 2022

Whether you’ve just recently created your Shopify page or you’re an experienced seller, there’s always a way to improve your business management. Therefore, you need to make sure your Shopify page is mobile-friendly. For example, if you sell bags, you could also start selling suitcases on your Shopify page.

E-commerce 98

E-commerce Non-Profits Technology Sales 98

Withum

JUNE 24, 2022

One unfortunate side effect of the ERC explosion has been the proliferation of tax credit companies offering dubious advice in exchange for outsize fees. The memos are more than 20 pages in length but as far as we can tell, only two or three lines of text are different. The suspension of operations test is a subjective test.

Tax 126

Tax audit tax return tax services 126

ThomsonReuters

APRIL 4, 2022

Sure, your firm’s tax compliance software does its job, but you know that there’s room for significant improvement. Tax season can obviously be a hectic and stressful time, but eliminating time-consuming tasks, and streamlining and automating the tax workflow would be transformative for you and your staff.

Tax 98

Tax Technology tax preparation tax return 98

Going Concern

MAY 12, 2023

It just seems like a lot of studying for a year for a big test,” the 21-year-old Mr. Verrett said. As a firm we have had to be proactive in our response to attracting candidates, addressing workforce planning and aligning our recruitment strategy to reflect this.” 1, 2024, the Financial Accounting Foundation said.

CPA 103

CPA Account accountant accounted 103

SkagitCountyTaxServices

JUNE 22, 2023

There are two general kinds with different purposes: A fair market valuation uses qualitative methods, looking at a few years of your operations to determine what your company’s worth in the market and its potential earnings for a prospective buyer. Legal valuations use quantitative measures of around a half-dozen years of your company.

tax return 81

tax return Real Estate CPA income tax 81

CPA Practice

JANUARY 10, 2024

Collins released her 2023 Annual Report to Congress on January 10, describing 2023 as a year of “extraordinary transition for the IRS and therefore for taxpayers.” The report says the IRS virtually eliminated its backlog of unprocessed original individual income tax returns (Forms 1040) and substantially improved telephone service.

tax return 64

tax return income tax Non-Profits Tax 64

ThomsonReuters

OCTOBER 27, 2023

One reason firms fail to plan is that it’s difficult to decide how much to give away and to whom. Planning ahead for your pro bono budget It’s a great thing if you’re able to be compassionate and generous at your firm by offering pro bono services. But compassion does not need to be accompanied by impulsivity.

Account 59

Account accountant accounted accounting firms 59

inDinero Accounting

DECEMBER 29, 2023

Table of Contents Components of Cash Flow How to Read a Cash Flow Statement Cash Flow Planning Conclusion As you’re scaling your business, indinero’s fractional CFO services are here to support you. Most statements will include the current and previous fiscal year, allowing stakeholders to gauge trends.

Non-Profits 52

Non-Profits accounting and finance Finance financial statements 52

Going Concern

NOVEMBER 20, 2023

About 80% of respondents to the study indicated their work stress is impacted by accounting cycles or the time of year The Republic of Macon, Georgia celebrates two new CPAs , we love that these notices are still a thing at small papers around the country. Congrats to both! At least someone is.

Account 69

Account accountant accounted audit 69

Withum

FEBRUARY 7, 2023

This is the 1,058 th blog I have posted in the last 11 years. This includes business succession planning, updated estate plans, buy-sell agreements and even ways to relook at their investment allocation. One of my blogs on transfer pricing a few years ago generated some business in the past year.

public accounting 59

public accounting Start-ups Account accountant 59

Going Concern

DECEMBER 15, 2023

This included training on accounting and auditing standards, audit strategy, planning, procedures and documentation, professional integrity and independence matters, and specific issues that arise in audits. The 15-page settlement agreement provides the most insight yet into the exam cheating at PwC.

audit 98

audit Technology accounting and finance Legal 98

Going Concern

JUNE 1, 2023

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. from the year prior), with audit coming in at $11.4 In seven years, Deloitte’s global revenue grew by $24 billion, or 69% (nice). billion (up 24.4%

auditor 110

auditor audit Government Transportation 110

Nancy McClelland, LLC

DECEMBER 28, 2022

The IRS has driven this point home repeatedly, and even has a page devoted to som e issues that arise specific to owners of 2% or more of an S-Corp who perform services for the company. For S-Corp shareholder-employees, this will usually be a company contribution, but check how your plan is set up.) Click Save.

payroll 52

payroll payroll tax income tax quickbooks 52

Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. So, to make sure we’re all on the same page, here are a few choice tax benefits that are often overlooked.

Tax 52

Tax tax preparation tax return cpas 52

Withum

NOVEMBER 17, 2022

In recent years there have been significant changes to the State and Local Tax Nexus rules. The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. State and Local Tax Workarounds.

tax planning 52

tax planning Tax income tax CPA 52