CPA Practice

JANUARY 13, 2023

Loyd’s co-conspirators include Lashamekwa Alexander, Deidra Brandon, Melissa Johnson, Shaterian Parr, Jaleesia Sais, and Tevin Thompson, all of whom have pleaded guilty to the tax conspiracy or other crimes. In all, the co-conspirators caused a tax loss exceeding $1.8 As a result, Loyd received approximately $18,000 in PPP funds.

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Nancy McClelland, LLC

MARCH 29, 2022

For those waiting on their 2020 tax return to be processed, enter $0 (zero dollars) for last year’s AGI on the 2021 tax return. For those who used a non-filer tool in 2021 to register for an advance Child Tax Credit or third Economic Impact Payment in 2021, enter $1 (one dollar) as the prior-year AGI.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes? Partnership Tax Deadlines.

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LyfeAccounting

JANUARY 30, 2021

?. 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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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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ThomsonReuters

JANUARY 28, 2022

Companies that only offer tax services have to start over each year building a brand through marketing and advertising. By offering services that last throughout the year, you can keep your business at the forefront of customers’ minds even when they don’t need tax preparation. Business tax preparation.

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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. We will also be discussing a typical operating agreement, how taxes work, and compare it against sole proprietorship. How a Single Member LLC is Taxed. Self-employment Taxes. Pass-through Taxation.

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xendoo

JANUARY 12, 2022

You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022? You may have already marked April 18, 2022, on your calendar to remind you to pay your personal income taxes. June 15, 2022: U.S.

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LyfeAccounting

JULY 22, 2021

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. Nevada’s effective property tax rate is just 0.6% Well, it’s possible because of tourism taxes.

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Nancy McClelland, LLC

APRIL 16, 2023

To that end, when you do share something with your tax preparer, I beg you to phrase it in respectful language that recognizes they are experts in their field. So, to make sure we’re all on the same page, here are a few choice tax benefits that are often overlooked. Out with the ego, in with the knowledge.

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Nancy McClelland, LLC

JANUARY 23, 2023

Earned Income Tax Credit or Additional Child Tax Credit refunds: Taxpayers may file their returns beginning Jan. 23, but the IRS cannot issue refunds involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February. “Where’s My Refund?

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LyfeAccounting

JULY 22, 2021

Hawaii also has the second-highest income tax in the country coming in at 11%. That’s 11 times more than other states like F lorida and Texas who virtually have no income tax at all. Nevada’s effective property tax rate is just 0.6% Well, it’s possible because of tourism taxes.

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CPA Practice

MARCH 14, 2023

Allegations include stealing identities of accountants, tax preparers, and taxpayers. Yusuff and others then allegedly registered with the IRS, posing as authorized agents of multiple taxpayers using stolen information relating to the taxpayers and their real tax preparers. The indictment was unsealed on March 13, 2023.

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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. Common IRS Tax Penalties and How You Get Penalized.

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inDinero Tax Tips

FEBRUARY 14, 2023

If you are a founder of a new business, an 83b election is a vital tax form that can save you serious money when it comes time to file taxes. An 83b filing could work out great for you, but the ins and outs of this form can be confusing, leaving founders and tax preparers alike unsure of what to do.

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inDinero Tax Tips

FEBRUARY 14, 2023

If you are a founder of a new business, an 83b election is a vital tax form that can save you serious money when it comes time to file taxes. An 83b filing could work out great for you, but the ins and outs of this form can be confusing, leaving founders and tax preparers alike unsure of what to do.

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inDinero Tax Tips

FEBRUARY 14, 2023

If you are a founder of a new business, an 83b election is a vital tax form that can save you serious money when it comes time to file taxes. An 83b filing could work out great for you, but the ins and outs of this form can be confusing, leaving founders and tax preparers alike unsure of what to do.

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Nancy McClelland, LLC

APRIL 9, 2023

The post below is about how to pay IL taxes personally ; click here for how to make IL business tax payments. There are multiple options for paying personal quarterly estimated taxes. You’ll want to select “IL-1040 Estimated Payment” and enter your tax year. The example below is for the fourth quarter of 2021.

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CPA Practice

AUGUST 15, 2023

Jared is a popular speaker and advisor due to his expansive knowledge of current tax policies, cybersecurity, and industry trends. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer.

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ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Accountant vs. CPA vs. tax preparer: What are the differences? Accounting professionals may find that some outside of the profession do not fully understand the differences between an accountant and a tax preparer. So, what are the differences?

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Nancy McClelland, LLC

FEBRUARY 13, 2022

The source is #15 in the IRS FAQ on the topic: This Journal of Accountancy article walks through the particular scenario where this relief — only for tax year 2021 — applies. The domestic partnership or S corporation has no knowledge that the partners or shareholders are requesting such information for tax year 2021.

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LyfeAccounting

DECEMBER 7, 2020

Payroll taxes that only employees pay typically consist of: – Federal Income Tax. – State Income Tax. Payroll taxes that only employers pay typically consist of: – Federal Unemployment Tax. – State Unemployment Tax. – Medicare. What is Compensation? Quick Recap.

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xendoo

SEPTEMBER 28, 2021

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. State Income Tax.

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xendoo

APRIL 3, 2023

Compare your tentative minimum tax and the 25% of the net regular tax liability calculated in the first step. Subtract the greater value from step two from your net income tax to find your general business credit limit. A tax credit that you received last year might not be available this year.

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xendoo

APRIL 3, 2023

Compare your tentative minimum tax and the 25% of the net regular tax liability calculated in the first step. Subtract the greater value from step two from your net income tax to find your general business credit limit. A tax credit that you received last year might not be available this year.

Tax 52

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xendoo

APRIL 8, 2022

A tax deduction and tax credit can both save you money on taxes, but they are different terms. . Tax deductions can lower the amount of taxable income. For example, tax brackets–a range of annual income–are used for income tax. 56 cents per mile.

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Withum

OCTOBER 18, 2023

With some economic upheaval and various provisions of the Tax Cuts and Jobs Act (“TCJA”) nearing their end, here are a few things to be mindful of as we cruise into the 4th quarter of 2023. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

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CPA Practice

OCTOBER 2, 2023

More than 260,000 people have used Tax Pro Account since it launched in July 2021. The future of Tax Pro Account The IRS is committed to improving and expanding Tax Pro Account capabilities and engaging with the tax professional community as these efforts progress. The webpage has been viewed over 2.7

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Ronika Khanna CPA,CA

APRIL 14, 2022

This can seem onerous, but understanding what needs to be done, and when, can significantly help reduce the stress and ensure that the tax filing process is smooth and straightforward. If you do have business income, then you are required to declare your business income on a tax return.

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inDinero Tax Tips

MAY 21, 2021

Even the recent Tax Cuts and Jobs Act (TCJA) legislation retained the provisions on R&D. All this to say, your company should include R&D credit in its tax strategy, if possible. Misconception #3: I don’t owe federal income taxes so it wouldn’t do much for me anyway. Is not a tax-exempt organization.

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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. This amount doubles for married couples and makes the first $20,400 of unemployment compensation non-taxable.

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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. Not into changing your citizenship?

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SkagitCountyTaxServices

AUGUST 26, 2021

There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. But first, let’s briefly talk 2021 Infrastructure bill. Experts say small businesses are best off trying to use about six to ten strategies for taking tax deductions.

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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. Generally speaking, you will pay… federal income taxes, state income taxes, and.

CPA 52

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Ronika Khanna CPA,CA

MARCH 31, 2022

For 2021 the temporary flat rate method allows you to claim $2 per day for up to 250 days. Paralleling the simplified federal method, for 2020, eligible employees will be able to claim a Quebec personal income tax deduction for these expenses at a flat rate of $2 per day worked at home in 2020 due to COVID-19, up to a maximum of $400.

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CPA Practice

SEPTEMBER 29, 2023

More than 260,000 people have used Tax Pro Account since it launched in July 2021. The future of Tax Pro Account The IRS is committed to improving and expanding Tax Pro Account capabilities and engaging with the tax professional community as these efforts progress. The webpage has been viewed over 2.7

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Tax Account accountant accounted 52

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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