Shay CPA

MARCH 6, 2024

It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. Fortunately, post-Protecting Americans From Tax Hikes (PATH) Act, things have changed. But again, don’t worry.

payroll tax 52

payroll tax payroll Tax tax return 52

Shay CPA

MAY 3, 2023

As you wrapped up the 2022 books for your startup, you probably did some high-level financial review and analysis. For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. In other words, you can’t make this election retroactively.

payroll tax 52

payroll tax payroll Tax tax return 52

Shay CPA

OCTOBER 18, 2023

Let’s dive in and examine what the Inflation Reduction Act of 2022 has in store for you. The Inflation Reduction Act of 2022 has brought some significant amendments to the R&D Tax Credit, making it more accessible and beneficial for qualified small businesses (QSBs). What’s New?

payroll tax 52

payroll tax Tax income tax tax return 52

Shay CPA

FEBRUARY 22, 2023

Per the Protecting Americans from Tax Hikes (PATH) Act of 2015 , if your gross receipts are less than $5 million and you’ve been in business for fewer than five years, you can most likely claim a credit of up to $250,000 to apply toward the social security tax on your payroll. Let us crunch the numbers.

Tax 52

Tax payroll tax payroll CPA 52

xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

business tax 52

business tax Tax income tax payroll tax 52

Going Concern

APRIL 11, 2022

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? My previous account didn’t ask for that. — Dan Herron (@fintaxdude) April 9, 2022. Cordes, EA (@cordes_tax) April 10, 2022.

Tax 52

Tax CPA payroll tax payroll 52

Basis 365

APRIL 28, 2022

Before making any decisions, speak to your attorney and tax accountant to make sure you are the correct entity type at this time. You really should review this periodically as laws and tax code do change. A separate tax return is required to be filed as a partnership is a separate legal entity from the partners.

income tax 52

income tax tax return tax planning Legal 52