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Make Sure You Know Your IRS Tax Deadlines for Filing Your 2020 Business Taxes in 2021

inDinero Tax Tips

By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. We’ll provide the information you need to create the appropriate 2021 business tax calendar to keep up with your tax filing responsibilities and avoid late penalties. Partnership Tax Deadlines.

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Side Hustlers! Don’t Forget to Pay Your Small Business Taxes

inDinero Tax Tips

The best way to avoid paying a fee for failing to make estimated tax payments is to calendar these payments. Say you can’t pay the full balance owed by April 15, 2021; you can apply for an installment agreement. Quick Note: This article is provided for informational purposes only, and is not legal, financial, accounting, or tax advice.

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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

Withum

Therefore, for a contract researcher not to be considered as incurring §174 R&E expenditures, the contractor must be able to document that they bear no financial risk and do not have the right to use, or otherwise exploit, any resulting R&E products through sale, lease, or license.

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

Of the participants, 16 revealed their books were audited, and of those, half went with the Big Four accounting firms–Deloitte, PwC, Ernst & Young and KPMG–and one firm, Binance, has since reportedly disclosed to the Wall Street Journal that Paris-based Mazars is auditing its reserves.

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How should I account for lease modifications under ASC 842?

ThomsonReuters

Because many companies were forced to reduce on-site employees or to ask employees to work from home, the necessity for leased space significantly decreased in 2020 and into 2021. So will you apply modification accounting for lease concessions that won’t reasonably affect the entire lease term?

Account 98
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Guide to accountant responsibilities

ThomsonReuters

CPA responsibilities to clients As a trusted advisor in an increasingly complex financial landscape, certified public accountants (CPAs) have significant responsibilities for the services they provide to their clients. In addition, they must complete 72 hours of continuing education every three years.

Account 59
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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies. Compare that with Delaware, which collects corporate income tax on Delaware businesses if they conduct business in the state.