MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

tax services 147

tax services California Tax tax preparation 147

CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

tax accountant 126

tax accountant business tax Tax Account 126

CPA Practice

OCTOBER 13, 2023

Taylor, Kiplinger Consumer News Service (TNS) The Social Security tax, withheld from each paycheck, stops once your income reaches a certain amount. That is due to the “Social Security wage base,” which is the maximum amount of earnings subject to Social Security tax. In this case, they would save $620 on Social Security taxes.

Tax 116

Tax payroll tax Washington payroll 116

Shay CPA

DECEMBER 2, 2022

Founders – check out our tips below that can save your Startup thousands of dollars in Income Taxes, Payroll Taxes, Sales Taxes, and foreign taxes. . R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits?

Tax 59

Tax CPA tax planning payroll tax 59

CPA Practice

JULY 12, 2023

Fortunately, the Internal Revenue Code includes several tax strategies that may help your clients better prepare for the potential costs of long-term care—here are three to consider. HEALTH SAVINGS ACCOUNTS A health savings account (HSA) is one of the most tax-efficient ways to save for long-term care costs.

Tax 98

Tax tax return payroll tax Illinois 98

CPA Practice

JANUARY 26, 2023

Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Use same employer identification number on all forms Employers need to make sure the employer identification number (EIN) on their wage and tax statements (Forms W-2, W-3, etc.)

payroll tax 128

payroll tax tax return income tax payroll 128

Going Concern

APRIL 11, 2022

We are officially one week away until our tax pro friends complete the long, arduous first leg of busy season. Let’s take a look at how things have been going for the Internet’s most vexed tax accountants in the last 48 hours or so: #taxseason observations: 1. How do I pay my taxes? Tax season bingo card.

Tax 52

Tax CPA payroll tax payroll 52

CPA Practice

AUGUST 7, 2023

The accounting software and payroll services provider, Patriot Software, has processed over $13 billion in payroll and payroll tax dollars since 2018, a milestone for the SaaS developer says it hit in June 2023. Patriot’s Full Service Payroll handles federal, state, and local payroll tax deposits and filings.

payroll 52

payroll payroll tax accounting software Tax 52

Anders CPA

DECEMBER 27, 2022

To incentivize investing in research and development, companies may be eligible for tax credits or a tax deduction for qualifying expenses. Key Takeaways: Research & Development tax credits will remain the same outside of extensions added through the Inflation Reduction Act of 2022 (IRA). R&D Tax Credit Defined.

Tax 52

Tax payroll tax CPA tax return 52

ThomsonReuters

APRIL 18, 2023

Payroll errors are certainly a real concern, but with the right tools and resources in place, payroll services can be a growth opportunity for firms. Today’s global workforce, remote and hybrid work environments, and the ever-changing regulatory landscape have added additional layers of complexity to payroll.

payroll 107

payroll payroll tax Tax audit 107

Shay CPA

MARCH 22, 2023

R&D Expenditure Capitalization Rules (New for 2022) The TCJA amended Section 174 relating to the federal tax treatment of research or experimental expenditures paid or incurred during the taxable year. will no longer be able to deduct 100% of their expenses starting in 2022 and for future year tax years.

tax return 52

tax return payroll tax payroll Tax 52

SkagitCountyTaxServices

MARCH 17, 2023

Forward-thinking is a must in business… that goes for your taxes too. But first, let’s talk about your tax filing. While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. And I’m going to dive into what that looks like today.

tax planning 52

tax planning business tax Tax tax return 52

Withum

SEPTEMBER 15, 2023

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021.

tax return 69

tax return payroll tax income tax Tax 69

SkagitCountyTaxServices

DECEMBER 8, 2021

And one way you can do so is by making some tax moves before the clock strikes 12 on New Year’s Eve. Now I get it … the rush of customers and clients, strange hours, extra errands: It’s a tough time of year to think about tax. Get your tax documents together to back the tax moves we talk about here and any others you might take.

business tax 52

business tax Tax tax preparation payroll tax 52

CPA Practice

MARCH 12, 2024

trillion budget proposal, issued March 11, covers a broad range of priorities in key areas including health care, child care and education, and includes calls for expanding benefits under Biden’s landmark Inflation Reduction Act of 2022.

payroll tax 52

payroll tax income tax Hospitality Washington 52

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . What is a tax deduction?

business tax 97

business tax Tax Education tax preparation 97

Accounting Seed

JULY 21, 2022

A separate bank account, separate credit card, and separate financial flows will simplify business expense tracking and taxes without worrying whether that minor repair bill was for work or the office. For example, only a CPA can draw up audited financial statements for a publicly traded company. Filing Things in Order.

accrual accounting 52

accrual accounting Account accountant accounted 52

SkagitCountyTaxServices

JANUARY 6, 2021

Employee Retention Credit For The Win Beginning on January 1, 2021 (and through June 30, 2021), the new relief bill: Increases the payroll tax credit rate from 50 percent to 70 percent of qualified wages. We’re here for you… Warmly, Steve Padgett (360) 424-1040 Padgett & Padgett, PLLC CPA. That is our wheelhouse.

CPA 98

CPA payroll tax payroll tax preparation 98

CPA Practice

MARCH 7, 2023

One of the schemes, according to the IRS, encourages people to use tax software to manually fill out their W-2 form and provide false income information. People should not make up income and try to submit a fraudulent tax return in hopes of getting a huge refund.”

tax return 98

tax return income tax payroll Tax 98

SkagitCountyTaxServices

NOVEMBER 16, 2022

And then when the new year strikes, we’re holding our breath for a few weeks … and then tax season is upon us. From your people to your payroll taxes, budgets to your bank: Though financial assessment can seem to be a big basket, with proper planning you can tick off one item at a time and set yourself up for 2023.

payroll 52

payroll Start-ups payroll tax Tax 52

Basis 365

APRIL 28, 2022

Choosing your entity type really crosses two disciplines, legal and tax. The tax side, which is closer to the accounting side, relates to selecting the appropriate business type that minimizes unintended tax liabilities. You really should review this periodically as laws and tax code do change. Sole Proprietorships 13.1%

income tax 52

income tax tax return tax planning Legal 52

CPA Practice

JULY 27, 2023

However, our longer lifespans and the fact that a smaller percentage of income is applied to the payroll taxes that support the benefit program are also critical issues for Social Security. News found that 41% of Americans didn’t put any money into their retirement funds in 2022 because of runaway inflation.

payroll tax 52

payroll tax payroll Washington Start-ups 52

SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

payroll tax 52

payroll tax payroll Tax income tax 52

SkagitCountyTaxServices

NOVEMBER 9, 2022

Now, speaking of one of those changes, you may have to help your employees navigate a change that’s coming to social security payroll taxes starting 1/1/2023…. And if payroll is something you want us to help you with, drop me a note. Seems inflation’s getting into everything, including taxes for your employees.

payroll tax 52

payroll tax payroll Tax income tax 52

CPA Practice

SEPTEMBER 11, 2023

million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. (TNS) A precedent-setting $11.5

Real Estate 115

Real Estate Tax Education Hospitality 115

CPA Practice

SEPTEMBER 12, 2023

million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” million of taxes Mayo Clinic paid on revenue generated by “debt-financed real-estate investment” over seven years. (TNS) A precedent-setting $11.5

Real Estate 95

Real Estate Tax Education Hospitality 95

xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. However, there are many types of business tax credits and the IRS has strict eligibility requirements.

business tax 52

business tax Tax tax return income tax 52

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

business tax 52

business tax Tax income tax payroll tax 52

Anders CPA

AUGUST 23, 2022

The Inflation Reduction Act of 2022 (IRA) was signed into law on August 16, 2022 by President Biden. This act aims to combat climate change, make health care and prescription drugs affordable and raise the tax on wealthy corporations. 15% Corporate Alternative Minimum Tax. 1% Excise Tax on Stock Repurchases.

Tax 98

Tax Real Estate payroll tax payroll 98

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.

tax preparation 52

tax preparation Tax income tax bookkeeping 52

Snyder

JUNE 20, 2022

Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making. Open a business bank account.

accounting basics 52

accounting basics general ledger Account accountant 52

CPA Practice

NOVEMBER 1, 2023

The agency also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2024 in Notice 2023-75 PDF. Act of 2022 (SECURE 2.0) The limit on annual contributions to an IRA increased to $7,000, up from $6,500.

Start-ups 104

Start-ups Tax Account accountant 104

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. Without any further ado, IRS-CI’s top ten cases of 2022: 10. He succeeded in stealing nearly $2.4

Tax 63

Tax tax return Gambling tax preparation 63

SkagitCountyTaxServices

DECEMBER 1, 2021

Which also means… 2022 is right around the corner. The reason I put this so starkly is that you and I have less than 30 days left to make a tangible difference on your taxes (business or personal). But the Act also tweaks taxes you and your Skagit County business might pay. Blink, and we’re already into December.

Washington 15

Washington Tax payroll tax CPA 15

Going Concern

FEBRUARY 23, 2024

Sadly, I had to argue with them over their own language in black and white on how… — Eric Pierre, CPA (@yourfavecpa) February 22, 2024 Deloitte’s Adam Powick wrestles with the complaints of former staff and directors about the pressure to perform in a gruelling corporate culture. in last 12 months.

CPA 95

CPA Illinois auditor Iowa 95

Going Concern

AUGUST 25, 2023

News US Accounting Board Looks Across the Ocean to Fill Hole in Rules [ Bloomberg Tax ] The flood of government aid that helped keep companies afloat during the coronavirus pandemic exposed a hole in US accounting rules: Businesses have no way to record the grants, loans, and tax breaks that bolstered their bottom lines.

tax preparation 90

tax preparation CPA payroll tax Illinois 90

CPA Practice

OCTOBER 26, 2023

In a 2022 survey of U.S. Remedying the program’s money woes would likely require one or more of the following actions: Increasing the revenue that goes to the program (by raising the payroll tax rate, for example). Raising the cap on how much of someone’s income is subject to Social Security taxes.

payroll tax 111

payroll tax payroll Tax Start-ups 111