LyfeAccounting

JULY 2, 2021

Tax refund delays are completely out of control right now. Calling appears pointless as it is mostly automated, and checking your status on irs.gov only shows you if your tax return has been received by the IRS. But, it does not tell you why your tax refund is delayed. Past Due Returns.

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Tax tax return accounting and finance tax preparation 52

LyfeAccounting

MAY 27, 2021

They have a question about your tax return. They changed your return. They need to notify you of delays in processing your return. Usually, when you receive an IRS letter, it is not going to be in reference to all of the tax returns you ever filed. 6% of tax returns are audited each year.

tax return 52

tax return audit Tax accounting and finance 52

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. Tax Deductibility.

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payroll income tax Tax accounting and finance 52

LyfeAccounting

JUNE 4, 2021

Here at LYFE Accounting, not only do we help people pay themselves correctly as an LLC… …but we’ve also started one of the fastest-growing LLCs according to Inc Magazine and the financial times in 2021. This means that the business’s taxable income is allocated directly to the owners, to pay on their individual tax return.

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CPA income tax Tax accounting and finance 52

LyfeAccounting

MAY 3, 2021

But in this post, we want to explain the differences between tax credits vs tax deductions so you can spend your time wisely! Now as tax preparers for many years, finding tax credits and tax deductions for our clients is one of the most satisfying parts of preparing a tax return.

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Tax tax preparation tax return tax consultant 52

LyfeAccounting

MAY 24, 2021

So monthly payments through the new federal enhanced child tax credit will start on July 15, 2021. This child tax credit will go to close to 40 million households, or roughly 90% of children in the United States, according to the IRS. Now, these are tax credits. How To Get Your New Monthly Child Tax Credit Payments?

Tax 52

Tax tax return tax planning accounting and finance 52

LyfeAccounting

MAY 8, 2021

Real estate can be a great way to build long-term wealth, earn additional income, and generate a tax shelter! And because of that, in this post, we are going to break down the top tax write offs for rental property in 2021. Keep reading! But, it’s basically the same thing.

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Real Estate Tax Legal audit 52

LyfeAccounting

DECEMBER 30, 2020

?. Are you tired of paying taxes? Taxes stink. But recently, I heard that some people pay very little in taxes. In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. But it’s important that you first understand how taxes work. Yeah me, too.

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Real Estate Tax income tax Gaming 52

LyfeAccounting

AUGUST 10, 2021

Average taxpayers, like wage-earners, are very limited in what they can deduct from their taxes. For instance, in 2021, single taxpayers can deduct $12,500 from their taxable income, and married taxpayers can deduct about $25,000. So make your life easy by just keeping track of your receipts for your business expenses.

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Real Estate Tax tax return tax preparation 52