Snyder

NOVEMBER 10, 2022

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. You can start with something simple. What is tax software?

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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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Going Concern

AUGUST 25, 2023

sent letters to the executives of Intuit, H&R Block, the American Coalition for Taxpayer Rights and the Free File Alliance, a group of tax preparation companies that provide free online services through the IRS website. Elizabeth Warren, D-Mass., Katie Porter, D-Calif., So how come relationships between the two often go wrong?

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ThomsonReuters

JUNE 15, 2021

When I worked for a former employer, they did nothing but tax returns for their clients – no tax planning, no projections, no advice around law changes – that was it,” says Angie. To me, the tax return should be the last thing we worry about. And that completely shocked me. ” __.

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ThomsonReuters

JANUARY 9, 2024

For C corps, double taxation refers to the taxation of corporate profit at two different times: First, the corporation itself is taxed on their corporate income at the federal corporate tax rate of 21%. How do C corps file taxes? C corps file federal income taxes using IRS Form 1120 , the U.S.

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Income Tax Obligations Any income earned through gig work is generally considered business income and is reported on the T2125 form as part of your personal income tax return (assuming you are not incorporated). If you do register, you will have to start charging your customers right away.

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CTP

MARCH 9, 2022

There are many other ways to income shift such as using a C corporation to report business income (C corporations file their own tax return), hiring kids to work in the business (the business receives a tax deduction reducing total income) or using losses to reduce income in future or past years.

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