LyfeAccounting

MARCH 10, 2021

Delay taxes for a stimulus check? Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. And we’ve been surprised at the number of people who have no idea how tax penalties and tax interest actually work.

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LyfeAccounting

JULY 22, 2021

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! The post The 10 States With the Lowest Property Taxes in 2021 appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

JULY 22, 2021

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! The post The 10 Best Property Taxes By States in 2021: Move Here to Save Money! appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

APRIL 28, 2021

So that’s just a very quick overview of the vehicle tax deduction, but If you want to get a deeper dive. 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. 8 Cars That Qualify For The Section 179 Vehicle Tax Deduction . 2021 BMW X5.

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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

JUNE 11, 2021

MILLION taxpayers are getting tax refunds. Earlier this year, the American Rescue Plan Act of 2021 excluded $10,200 in unemployment compensation when calculating taxable income. But a lot of taxpayers already filed their tax returns and paid the tax on this income. What is the Unemployment Tax Refund.

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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. However, if you feel a bit overwhelmed by the idea of doing it yourself or if your situation is somewhat complicated, it might make more sense to outsource to an accountant.

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LyfeAccounting

JULY 2, 2021

9 Reasons Why Your Tax Refund is Delayed. 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.

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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. We got some really great news for parents. Contact us today!

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LyfeAccounting

JULY 16, 2021

In this post, we’re going to break down to you what you need to know in order for you to claim your unemployment tax refund based on recent updates from the IRS. Unemployment Tax Refund Recap. We hope you found this post helpful to better understand what is going on with your money and tax refunds.

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Nancy McClelland, LLC

FEBRUARY 6, 2022

If a taxpayer did not receive the full amount, then they are entitled to recoup the difference on their annual tax return. To get a list of the estimated tax payments you’ve made to the state of Illinois, go to [link] and enter your SSN, Name, and the year (in this case 2021). Let the tax return preparing begin!

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LyfeAccounting

JUNE 9, 2021

It’s mid-April 2021 and Bitcoin just blew past $60,000 to reach all-time highs. If you want more tips on how to save on your taxes, then go ahead and subscribe to our newsletter. Or, you could also seek the help of professionals for your tax planning , tax preparation , and even for tax resolution needs.

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LyfeAccounting

DECEMBER 7, 2020

Well, on August 8, 2020, the President issued an executive order stating that the employee’s portion of Social Security tax could be deferred effective September 1, 2020, through December 31, 2020 for US workers earning less than $4,000 on a pretax biweekly basis, or about $104,000 annually. As a bonus let’s talk about compensation.

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xendoo

MARCH 18, 2021

Additionally, if you wait until tax time to get it together, it can end up giving you a real headache – hiring an accountant at the last minute with books full of errors could cost you more than you set aside in the first place. What does online accounting software do?

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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

DECEMBER 30, 2020

Stay tuned as today, we’re taking a look at how you can pay very little in taxes with real estate, legally. Now we just wrote a post about the new tax brackets going into 2021, which you can read in this link. But it’s important that you first understand how taxes work. Okay, so let’s look at “Bob’s” tax situation.

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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. Now if you want to make sure your LLC taxes are on the right track, then we can help you with that.

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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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LyfeAccounting

MAY 27, 2021

Right underneath where your letter number is in the top right, is going to be the tax year it is in reference to. So if it says ‘tax year 2018’, there’s no need in worrying about 2017 or 2020, 2021, etc. They have the most experience in preparing tax forms and can also advise you on what should or should not go on your return.

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LyfeAccounting

JUNE 7, 2021

So, this is a really important post because, it’s not just about avoiding paying taxes, it’s about developing a new mindset that will allow you to build long-term wealth. Now in 2021, you start paying taxes the second you make over $9,875 a year as an individual.

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