Ronika Khanna CPA,CA

JANUARY 27, 2023

Somehow we are almost one month into 2023 (!) and it is time for business owners (and individuals) to start thinking about one of their favourite subjects i.e. taxes. I have compiled a list of the deadlines that all of you should know and also updated my annual business tax deadline calendar.

business tax 52

business tax Tax income tax tax return 52

RogerRossmeisl

JANUARY 12, 2023

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

California 239

California Tax tax return CPA 239

RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday.

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California Tax tax return CPA 236

RogerRossmeisl

APRIL 17, 2024

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.

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Tax income tax tax return CPA 163

CPA Practice

NOVEMBER 20, 2023

(TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The business account is expected to help entrepreneurs save hours in doing tax research.

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tax accountant business tax Tax Account 124

Snyder

OCTOBER 30, 2022

Taxes add a big chunk to this plate. Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? How much do small businesses pay in taxes?

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tax preparation E-commerce Tax income tax 98

inDinero Tax Tips

DECEMBER 22, 2023

Introduction As 2023 draws to a close, it’s pivotal for small businesses to scrutinize their financial status and strategize effectively for tax reduction and a robust financial future. Despite a static tax legislative landscape, the looming possibility of future amendments necessitates proactive tax planning.

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tax planning business tax Tax financial statements 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.

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tax planning business tax Tax tax return 52

Patriot Software

FEBRUARY 8, 2023

It’s that time of year again when tax filing deadlines bear down on small businesses across the country. Read on to learn all about the deadlines for taxes in 2023. Business tax deadlines Tax day (aka the day individual income tax returns are due) is generally on April […] Read More

business tax 52

business tax Tax income tax tax return 52

Ronika Khanna CPA,CA

DECEMBER 28, 2023

As we approach the new year, it will be time soon to start working on everyone’s favourite activity i.e. getting your tax stuff in order :). Below are the deadlines that all small businesses need to know for 2024. Download our free Canada unincorporated business tax deadline calendar for 2024 (both Federal and Quebec).

business tax 52

business tax Tax income tax tax return 52

RogerRossmeisl

NOVEMBER 13, 2022

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax. For 2023, the FICA tax rate for employers is 7.65% — 6.2%

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Hospitality CPA Tax business tax 220

RogerRossmeisl

APRIL 28, 2024

If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. Other possibilities There are more small business retirement plan options, The post Don’t Have a Tax-Favored Retirement Plan?

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Tax income tax CPA Account 157

RogerRossmeisl

NOVEMBER 6, 2023

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Social Security tax.

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Tax income tax CPA Government 222

RogerRossmeisl

NOVEMBER 20, 2023

The post IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims appeared first on Roger Rossmeisl, CPA. This new withdrawal option allows certain employers that filed an ERTC claim but have not yet received a refund to withdraw their submission and avoid future repayment, interest and penalties. The IRS created the.

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Tax CPA cpa firm business tax 232

CPA Practice

OCTOBER 2, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

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South Carolina Tax Georgia income tax 124

RogerRossmeisl

AUGUST 6, 2023

If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. For 2023, the SE tax is imposed at the painfully high rate of 15.3% for Social Security tax and 2.9% for Medicare tax. additional Medicare tax, on all income. This includes 12.4%

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Tax CPA business tax 221

RogerRossmeisl

FEBRUARY 5, 2023

On 2/3/2023, the IRS issued Notice 2023-16 guidance that modifies the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle tax credits.

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Tax CPA cpa firm business tax 233

RogerRossmeisl

SEPTEMBER 25, 2022

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. If you expect to be in a higher tax bracket next year, opposite strategies may produce better results. Here are some other ideas that may help you save tax dollars if.

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tax planning Tax business tax CPA 154

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

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Tax Tip 2023-103 9/5/2023 Starting a new business can seem overwhelming for new entrepreneurs or even seasoned professionals. The IRS has resources to help new business owners understand the tax responsibilities of running a business. Corporation: Also known as a C corporation.

Tax 130

Tax income tax tax return CPA 130

inDinero Tax Tips

SEPTEMBER 13, 2023

Understanding these new provisions is critical for maximizing potential tax benefits as a small business owner. aims to expand access to retirement savings plan options for employees of small businesses. It provides tax incentives for small businesses that start a new retirement plan. The SECURE Act 2.0

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business tax Tax Start-ups accounting and finance 80

CPA Practice

OCTOBER 16, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. 31, 2023, to file. 15, 2023, to file. 24, 2024, to file various individual and business tax returns.

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South Carolina Georgia income tax Vermont 111

RogerRossmeisl

FEBRUARY 20, 2023

But some analysts expect 2023 to see increased M&A activity in certain industries. If you’re considering buying or selling a business, it’s important to understand the tax implications. Two approaches Under current tax law, a transaction can basically be structured in two ways: 1. Stock (or ownership interest).

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Tax CPA business tax 222

ThomsonReuters

JANUARY 22, 2024

This legislation is designed to provide crucial support to American job creators, small businesses, and working families. With a focus on alleviating the burden of rising prices and interest rates, this tax relief package is a vital step towards fostering a healthier economy and creating greater opportunities for all.

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Tax business tax accounting and finance payroll 105

RogerRossmeisl

SEPTEMBER 14, 2023

The post IRS Orders Immediate Stop to New Employee Retention Tax Credit Processing appeared first on Roger Rossmeisl, CPA.

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Tax Washington CPA business tax 237

Withum

JANUARY 16, 2024

We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need.

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Tax Tennessee New Jersey Massachusetts 118

RogerRossmeisl

NOVEMBER 13, 2022

For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the key tax benefits: Contributions that participants make to an HSA are deductible, within limits. Contributions that employers make aren’t taxed to participants.

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payroll tax payroll CPA Tax 138

CPA Practice

NOVEMBER 6, 2023

Idaho Society of CPAs hosts 2023 tax updates for CPAs The Idaho Society of Certified Public Accountants (ISCPA ) is offering tax updates to CPAs for both personal and business clients. Best Individual Tax Update 2023 , which takes place December 14 from 8:00 AM – 3:45 PM. The program takes place Dec.

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CPA cpas Idaho Michigan 113

RogerRossmeisl

AUGUST 6, 2023

Census Bureau reports that business applications are still increasing slightly (up 0.4% from April 2023 to May 2023). The Bureau measures this by tracking the number of businesses applying for Employer Identification Numbers. The post Starting a Business?

tax return 180

tax return Tax Start-ups CPA 180

RogerRossmeisl

JANUARY 1, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. January 16 (The usual deadline of January 15 is a federal holiday) Pay the final installment of 2023 estimated tax. Farmers and fishermen: Pay estimated tax for 2023.

Tax 119

Tax CPA business tax 119

RogerRossmeisl

FEBRUARY 5, 2023

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. In 2022, the business cents-per-mile rate for the second half of the year (July 1 – December 31) was 62.5

CPA 233

CPA business tax Tax 233

RogerRossmeisl

NOVEMBER 25, 2023

As reported via IRS Tax Tip 2023-58 on 4/27/2023 When a taxpayer can’t pay their full tax liability or if paying would cause financial hardship, they may want to consider applying for an Offer in Compromise. This agreement between a taxpayer and the IRS settles a tax debt for less than the full amount owed.

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Tax CPA business tax 130

Nancy McClelland, LLC

JANUARY 30, 2024

Tax preparers everywhere spent the past two months gearing up for yesterday’s “opening day” of tax season, January 29th. Never mind that the IRS e-file has been offline since November 18th, because it takes over two months to reprogram the systems for new tax laws, updates, and edits to tax forms.

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Tax tax return Illinois tax preparation 52

Withum

SEPTEMBER 1, 2023

On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan. 31, 2023, and Jan. 27, 2023, and before Sept.

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Tax tax return Florida payroll 98

Withum

FEBRUARY 1, 2024

7024, Tax Relief for American Families and Workers Act of 2024 , by a wide bipartisan vote of 357 to 70 yesterday evening. The refundable child tax credit would continue to increase by $100 per year through Dec. The bill would also expand low-income housing credit and financing, disaster tax relief, and U.S.-Taiwan

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Tax Finance tax services business tax 124

Withum

MARCH 7, 2024

Is the IRS Still Processing ERC Claims, and What’s the Status of the Processing Moratorium It Announced on September 14, 2023? The IRS announced it would not process ERC claims filed after September 14, 2023, but at that time it was still working through a sizeable backlog of claims that were filed before that date.

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Tax income tax tax return audit 126

CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. 15, 2024, to file various federal individual and business tax returns and make tax payments. 27, 2023, through Feb. Quarterly estimated income tax payments normally due on Sept.

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Tax income tax tax return payroll 119