LyfeAccounting

FEBRUARY 24, 2021

?. How much money will you be paying in taxes this year? Hopefully, the lowest amount legally possible! To help you do just that, we’ll be going over the 12 most overlooked tax breaks you can take today. The more tax deductions and credits you get, the more money you get to keep. 0% Tax on Capital Gains.

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LyfeAccounting

JUNE 7, 2021

Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. Now in 2021, you start paying taxes the second you make over $9,875 a year as an individual. And that is all legal.

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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

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. And even jail time. So let’s definitely avoid that one.

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? Other clients were there as well with similar accounts, he said.

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LyfeAccounting

MAY 21, 2021

Organizational costs are the costs to incorporate your LLC such as legal fees and state fees. 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. Legal and Professional Services. everything in between.

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xendoo

SEPTEMBER 2, 2021

Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . To help business owners with their tax preparation , we’ve prepared a business tax filing guide to walk you through the process.

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CPA Practice

AUGUST 15, 2023

Understand your legal and regulatory obligations, develop adequate policies to secure client data and protect your practice. 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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Going Concern

NOVEMBER 20, 2023

As a senior accountant, his primary responsibilities are professional tax preparation and auditing services for individuals, commercial clients, and nonprofit organizations. The incident happened between 5 August and 10 September 2021 across a number of UK locations from London to Manchester, Stockport and Preston.

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xendoo

APRIL 8, 2022

Legal, accounting, and professional fees. Let’s take a look at each of these small business tax deductions in-depth. For the 2021 tax year, the standard mileage rate deduction is.56 If you have family members that work in your small business, there are some additional tax considerations. Bank fees . Car expenses.

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Shay CPA

FEBRUARY 15, 2023

While you’re putting some energy into gathering up the documents you need, grab a copy of your 2021 tax returns. D&O [Founder Shield], liability, workers’ comp) Legal & Professional (e.g., Gusto, Justworks) Rent (including WeWork/coworking spaces) Taxes (e.g., Clearly, tax prep isn’t easy. We can help.

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xendoo

JUNE 13, 2021

In this post, we’ll help you to prepare for the coming changes in the Florida minimum wage. As of January 1, 2021, Florida’s minimum wage has increased from $8.56 Are There Plans to Change the Florida Minimum Wage After 2021? These changes will not stop in 2021. hour on September 30, 2021. per hour to $8.65

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Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. From 2019 to 2021, Little filed a series of false tax returns claiming massive, bogus fuel tax credits.

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Ryan Lazanis

JULY 21, 2022

Engagement letters for your accounting or CPA firm is a legal document agreement sent to your clients that describes the overall business relationship with your client, clearly defining: Services included and how they’ll play out. Sure, terms and conditions are great to mitigate risk in a legal sense. Let’s get started.

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Going Concern

NOVEMBER 11, 2022

and 2.3%, respectively, in 2021, according to the Financial Education & Research Foundation’s Public Company Audit Fee Study. About half of the financial executives surveyed said 2021 audits required greater effort to support than those in 2020.

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LyfeAccounting

APRIL 28, 2021

So, the vehicle tax deduction can allow you to purchase your dream car, basically for free. Of course, you have to go about this in a very smart and legal way to successfully pull this off. So that’s just a very quick overview of the vehicle tax deduction, but If you want to get a deeper dive. 2021 Tesla Model X.

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LyfeAccounting

JUNE 9, 2021

Our goal for today’s post is to explain the cryptocurrency tax loophole in an easy-to-understand manner, so you can benefit from it. A quick disclaimer that this is not financial or legal advice, and you should consult with your personal CPA or lawyer regarding your specific situation. Let’s dive in. Quick Cryptocurrency Story.

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LyfeAccounting

DECEMBER 7, 2020

My promise to you is that any question you have about payroll taxes will be answered and the high-level details you need to know about payroll taxes will be shared. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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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. Know what type of information you need Minimally, you are required to report your total sales/revenues from your small business for the 2021 calendar year. Legal documents, contracts etc.

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Going Concern

OCTOBER 20, 2023

The accounting firm will use AI to consult on complex matters in tax, legal and human resources, such as carrying out due diligence on companies, identifying compliance issues and even recommending whether to authorize business deals. LLB provided accounting services including tax preparation, audit and consulting services.

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Nancy McClelland, LLC

DECEMBER 26, 2023

Legally, no business should be using the non-business versions of these payment types… but in real life, many do. 3) You may need to reconcile this form against the amount of sales income you report on your tax return. The IRS is now planning a phase-in of $5,000 for tax year 2024. It includes owners, partners, and shareholders.

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Nancy McClelland, LLC

DECEMBER 26, 2023

Legally, no business should be using the non-business versions of these payment types… but in real life, many do. 3) You may need to reconcile this form against the amount of sales income you report on your tax return. The IRS is now planning a phase-in of $5,000 for tax year 2024. It includes owners, partners, and shareholders.

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inDinero Tax Tips

MAY 21, 2021

Translation: You elect an R&D tax credit in 2021, then you cannot have had gross receipts before 2017. Is not a tax-exempt organization. If you owe payroll tax, you can benefit from the offset of the Social Security tax in that credit year for cash on hand. How do you claim the R&D credit?

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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. Tax consulting is also available throughout the year in most plans.

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Going Concern

SEPTEMBER 22, 2023

Harlow advises clients throughout the supply chain ranging from independent operators to vertically integrated operators in the largest legal cannabis markets in the country. In addition to his new role, he will continue to serve as co-director of the firm’s DC-Metro tax practice. Data Centers Contribute $2.1 trillion to the U.S.

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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. 100,000 – 86,375) = $13,625.

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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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Going Concern

JULY 21, 2023

On the other, tax preparation firms like Intuit — the parent company of TurboTax — and H&R Block have been pouring millions into trying to stop the idea cold. The 2023 program is available for taxpayers who earned $73,000 or less in tax year (TY) 2022. The advocacy groups are exponentially out-monied.

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LyfeAccounting

MAY 27, 2021

Now, remember, this post is for informational purposes only, and by no means are we giving you legal or tax advice. 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.

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