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Tax Season 2021: Prepare Now (Don’t Miss These Deadlines)

LyfeAccounting

?. Tax season 2021 is here! And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on.

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2021 Ultimate List of Small Business Tax Deductions

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With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . When filing taxes, knowing the deadlines is an essential part of being organized and prepared.

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Beyond tax season: creating revenue stability year-round

ThomsonReuters

Bookkeeping is another service many small businesses can use, especially those with a small staff or without anyone on staff who has experience managing daily finances and transactions. If you aren’t familiar with bookkeeping or need a refresher, you can find online bookkeeping courses to get up to speed.

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4 Ways Small Business Owners Can Stay Tax Compliant

xendoo

While the salary is subject to self-employment taxes, the distributions are exempt, which allows S-Corps to avoid double taxation. . It is always best to speak to a small business tax accountant. They will get to know your business, and determine if S-Corp Election is right for you. . Pay Quarterly Estimated Taxes .

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The Most Valuable Tax Deductions for Small-Business Owners

Steve Feinberg

Deductions can only be claimed under the right circumstances, and there are strict penalties for business owners and individuals who claim tax write-offs with no evidence that they qualify for them—and the IRS doesn’t take tax fraud lightly. In 2022, it is $0.585 per mile.

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How to File a Business Tax Extension in Florida

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We’ll walk you through the process for filing a Florida business tax extension, so you can keep your business moving without the added stress. . What is the Deadline for the Florida Business Tax Extension? Different deadlines apply for federal and state taxes. Federal Tax Extension.

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2021 Tax Preparation for Small Business

xendoo

If you want to make sure that you and your small business are ready for the 2021 tax season, then it is essential to remain well organized throughout the year. Lastly, you need to know about all of the various tax deadlines that might apply to your business throughout the year. Excise Tax.