LyfeAccounting

JANUARY 28, 2021

So in this post, I want to take some time to talk about what accredited investing is some new changes that took effect in 2021, share some examples and talk a little bit about some tax advantages. New 2021 SEC Accredited Investing Rules. So as of 2021, the government has certain incentives in place for companies that invest in the US.

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LyfeAccounting

JUNE 17, 2021

It’s called the “Non-filer sign-up tool” which is for people who did NOT, we repeat, DID NOT file their 2020 taxes which would have been done in 2021. Right now we know the IRS has created a special advanced tax credit 2021 page, but as of this moment, there is nothing to really use it for. What is the Non-Filer Sign Up Tool?

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LyfeAccounting

FEBRUARY 4, 2021

So there you have it, we gave you some quick updates for the PPP forgiveness application in 2021. The post PPP Forgiveness Application: 2021 Updates and FAQ appeared first on Small Business Accounting & Finance Blog. Contact us today to get started!

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LyfeAccounting

JUNE 13, 2021

So in this post, we want to dive straight into how businesses can handle inflation in 2021, 2022, and pretty much at any time. Let’s not waste any time and jump straight into how to handle inflation as a business owner. 5 Ways on How to Handle Inflation as a Business Owner. Keep reading!

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LyfeAccounting

APRIL 30, 2021

.” When you use your vehicle for business purposes, you are able to write off the mileage or the actual expenses of the vehicle. With the mileage approach, you can write off 56 cents in 2021 for every business mile you drove. Let us explain. Though, it does not fluctuate too much higher or lower than the current rate.

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LyfeAccounting

JUNE 23, 2021

Top 10 Passive Income Ideas For 2021. The post Top 10 Passive Income Ideas for 2021 | Earn Money While You Sleep! appeared first on Small Business Accounting & Finance Blog. But eventually, your passive income streams will start snowballing and can even cover your monthly expenses.

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LyfeAccounting

MARCH 10, 2021

Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. So it’s clear that more people need to know about tax penalties in 2021, especially if you are a small business owner and need capital to survive. Delay taxes for a stimulus check?

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LyfeAccounting

FEBRUARY 19, 2021

So in this post, we’re going to break down some of those advantages and disadvantages of a single member LLC in 2021. Which by the way, we are back in full operation for this tax season, so if you or someone you know needs help with their business taxes, t hen contact us to speak with someone from our team. Self-employment Taxes.

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LyfeAccounting

JULY 3, 2021

How to start a nonprofit organization in 2021 – otherwise known as a 501(c)(3) organization. So, a nonprofit organization is a business entity in which your goal is not to be profitable… …but to make money to expand on a social clause like feeding the homeless or helping victims of harsh circumstances. Keep reading!

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CPA Practice

APRIL 19, 2024

From 2015 to 2019, Reich’s business account received payments totaling nearly $600,000 from a family-owned, Virginia Beach company that manufactures condiments. Reich also used the company’s money to pay off her personal and business credit cards, medical bills and a trip to Jamaica, among other payments totaling more than $600,000.

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LyfeAccounting

JULY 9, 2021

There is a limit of how much foreign earned income can be excluded, which for 2021 is up to $108,700. The post How to Qualify for the Foreign Earned Income Exclusions in 2021 appeared first on Small Business Accounting & Finance Blog. But in general, it’s been around $100,000 for the last few years.

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LyfeAccounting

JUNE 1, 2021

It has raised over 20 million dollars so far and is an ongoing crowdfund to help businesses in need that apply. Nav’s “Legitify Your Small Business” Grant. Nav, a company that provides free help with business financing offers a $10,000 small business grant to help small businesses grow.

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LyfeAccounting

APRIL 23, 2021

And by the way, for the tax year 2021, the IRS is projecting the standard mileage rate will be 56 cents per mille, so a slight reduction but still something to take advantage of. Use your car for business content creation. Of course, digital marketing and advertising are really important for any business in 2021.

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LyfeAccounting

JANUARY 18, 2021

The post Best Business Credit Cards in 2021 [Cards For Everyone] appeared first on Small Business Accounting & Finance Blog. And as usual, if you are in need of expert financial guidance, we’re just a click away! Our team of professional financial advisors are happy to help. Contact us today.

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LyfeAccounting

JULY 22, 2021

The post The 10 States With the Lowest Property Taxes in 2021 appeared first on Small Business Accounting & Finance Blog. Now if you think you can still save more on your taxes but are just not sure how to do it, work with our tax planning , and tax preparation services today! Simply contact us to get started.

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LyfeAccounting

JULY 8, 2021

So at this part in your journey, you may have started a service business, you have skills, you’re incorporated and you are starting to land some clients. Track your finances because as you’re operating, you probably are going to find some necessities or just some really cool tools that will help you maximize your workflow.

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LyfeAccounting

JUNE 9, 2021

And if you need more help with choosing the best business entity for you, contact us today. Our expert accounting consultants will be happy to help! The post LLC Costs: How Much Does it Really Cost to Start an LLC in 2021? appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

JULY 22, 2021

The post The 10 Best Property Taxes By States in 2021: Move Here to Save Money! appeared first on Small Business Accounting & Finance Blog. Now if you think you can still save more on your taxes but are just not sure how to do it, work with our tax planning , and tax preparation services today!

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LyfeAccounting

MARCH 25, 2021

And if it is your business financial management or investment management you want some help with, we offer CFO services , as well as investment advisory services. The post Disadvantages of LLC: Don’t Believe All The Hype in 2021 appeared first on Small Business Accounting & Finance Blog.

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PYMNTS

JANUARY 7, 2021

In an environment in which connecting small- to medium-sized businesses (SMBs) to vital financial services and products is more imperative than ever, the world of SMB banking and FinTech is fostering an ecosystem of collaboration to expand availability. Lloyds Pilots Satago Technology.

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Withum

JUNE 27, 2022

Now that we are halfway through the new year, most companies have wrapped up their books and records for 2021 and sent them to their accounting professionals for tax and audit preparation. In order to reflect the complete monthly operations of a business, accounting adjustments should reflect these items.

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Xero

MAY 30, 2022

The shift towards working from home has more businesses than ever transitioning to the cloud – and to a new level of automation, streamlining, data accuracy, and insight. . Here are five apps that have joined the new Xero App Store since launch in August 2021, and are helping small businesses seize the post-pandemic opportunity. .

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MazumaBusinessAccounting

AUGUST 28, 2022

In 2021, the average tax refund was $3,039. New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Do small businesses get tax refunds? Small potatoes? Is yours one of them?

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MazumaBusinessAccounting

AUGUST 29, 2022

In 2021, the average tax refund was $3,039. New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Do small businesses get tax refunds? Different Types of Taxes Businesses Pay. Small potatoes?

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Ronika Khanna CPA,CA

APRIL 14, 2022

This is also true for spouses of small business owners who may only have a regular(non small business) tax return. It can be worth paying a bit more for a service provider that is a great fit especially where your finances are concerned. Meals and entertainment that involve clients or business partners.

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LyfeAccounting

APRIL 28, 2021

Now let’s jump into the list of cars in 2021 that weigh over 6,000 pounds that qualify for the section 179 vehicle tax deduction. 2021 Tesla Model X. So the 2021 Tesla Model X vehicle GVWR (Gross Vehicle Weight Rating) comes in weighing 6,788 to 6,878 lbs which means it easily qualifies for accelerated vehicle depreciation.

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Accounting Insight

MARCH 3, 2023

With uncertainty in the commercial environment, offices of finance will continue to seek technologies to help them quickly analyze available data and business intelligence to drive better supply chain analytics, mitigate and manage market volatility, and more accurately predict and create ways for people to buy, learn and work online.

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LyfeAccounting

JUNE 29, 2021

You are worried about owing money next year when you file your 2021 taxes. Or, perhaps you decide to take a foreign job and you end up out of the country for more than half of 2021. If you have an IRS account or ID.me account, all you have to do is sign in and you’re good. You’re going to have to pay it all back.”.

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Cheap Accounting

JANUARY 5, 2022

So for example the tax year 2020 / 2021 covers the period 6 th April 2020 to 5 th April 2021. You’ll soon be caught up and more in control of your finances. From the start of the next year think about having a dedicated business bank account and an accounting system.

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xendoo

OCTOBER 27, 2022

As a business owner, you may have heard the term deferred revenue before. But, what is deferred revenue and what does it mean for your business accounting? . In accounting, deferred revenue can affect your balance sheet and profit and loss statement. . 1/1/2021: Initial Deposit for Jones’ pool. Cash in Bank.

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LyfeAccounting

MAY 21, 2021

Business Meals. Thanks to the Consolidated Appropriations Act that went into effect on December 27, 2020, the business-related meals you eat at restaurants are 100% deductible in 2021 and 2022. If not purchased at a restaurant, you can write off 50% of a business-related meal. to get a total deduction of $560.

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LyfeAccounting

JULY 2, 2021

If you didn’t know, as of June 23, 2021, the IRS had 17.5 This includes returns received prior to 2021 that need to be manually reviewed because of error. This includes returns received prior to 2021 that need to be manually reviewed because of error. 9 Reasons Why Your Tax Refund is Delayed. Remember, the IRS had 17.5

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Shay CPA

NOVEMBER 30, 2022

venture capital-backed companies that went public in the first half of 2021 banked with Silicon Valley Bank (SVB). . With this option, you get: A free checking account, which means no fees for monthly maintenance, transactions, mobile deposits, bill payments up to $100,000 a day, and even wire transfers. 63% of U.S. Brex Cash .

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LyfeAccounting

JULY 16, 2021

A little background, in case you didn’t know, due to the recent passage of the American Rescue Plan of 2021… …the IRS has now considered the first $10,200 of unemployment compensation received in 2020 as non-taxable. Unemployment Tax Refund Recap.

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Snyder

OCTOBER 12, 2022

Accounting software. Current situation in the accounting industry. The conclusion is that there’s a huge number of bookkeepers and accounting clerks heading for retirement. Combined with fewer young people entering the profession, the demand for bookkeepers may not be satisfied, especially in small and medium-sized businesses.

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LyfeAccounting

DECEMBER 7, 2020

1, 2021, and April 30, 2021, if a permanent cut is granted in the future. A ton of businesses get caught off-guard when predicting payroll taxes because they forget to include all forms of compensation. This was enacted to help Americans see a near-term bump in their paychecks. As a bonus let’s talk about compensation.

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LyfeAccounting

NOVEMBER 16, 2020

Yet there is still confusion for many small businesses about how the PPP loan will affect their future. It’s likely you won’t know if your loan is forgiven and by how much until 2021, which will have some serious implications for your tax planning and financial reporting. Or even worse, their ability to stay in business.

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