CTP

NOVEMBER 9, 2023

They will need to be aware of the difference between short-term capital gains (taxed at ordinary income tax rates) versus long-term capital gains (taxed at lower capital gains tax rates). Holding onto an investment for more than a year can pay off by reducing overall taxes.

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MyIRSRelief

DECEMBER 15, 2022

How to fix my messy back-years accounting for my Los Angeles, CA business? If you have messy books for many back years of accounting, it can be overwhelming to try to organize and clean them up. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks.

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CPA Practice

NOVEMBER 27, 2023

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. For more information on Instead, visit www.instead.com.

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CPA Practice

MAY 15, 2024

The technologies used in professional accounting firms continue to evolve and shape how practices function, from client service, to staffing issues, and overall management and growth. But even basic tax planning can make a big difference in reducing future tax liability. Now, on to the results!

Technology 120

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Cherry Bekaert

NOVEMBER 29, 2023

Prepare for the 2023 tax season with our comprehensive tax planning checklist for individuals. Expert advice on life changes, investments, IRAs, and estate planning. Do you receive income from a pass-through business? How will your income change in 2024? Do you make charitable contributions?

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ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Jump to: • 10 tax-efficient retirement strategies • Do you pay taxes on retirement income? Take advantage of tax credits.

Tax 52

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MyIRSRelief

APRIL 3, 2023

That’s where an accountant (EA or CPA) can help. A Los Angeles, CA accountant can provide essential financial expertise and support to small business owners, helping them make informed decisions and manage their finances efficiently. Contact us today for all you tax and accounting needs.

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CTP

NOVEMBER 2, 2023

What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. This is where offering your assistance as a Certified Tax Planner can be invaluable.

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CTP

NOVEMBER 16, 2022

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. Artificial intelligence in accounting software is bringing new ethical challenges for professionals, their clients, and the public at large.

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CPA Practice

JUNE 1, 2023

None of this common knowledge applies to actually getting your money out of your retirement accounts. In the next few paragraphs, I’m going to outline a standard withdrawal order for which of your accounts to withdraw from and when. These include individual, joint and revocable trust accounts. Don’t get into credit card debt.”

Account 116

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Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Capital Gain Planning. Estate Tax Planning. Tax-Advantaged Accounts.

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ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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MyIRSRelief

SEPTEMBER 1, 2020

With more than 30 million small businesses in the US, effective tax planning is essential to maximizing profits and minimizing taxes, keeping more of what is earned, and lowering your taxes for the future. You can contribute to HSAs from your current income. And the account itself will continue to grow tax-free.

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CTP

SEPTEMBER 16, 2022

There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” MUCH more than an accountant merely reporting your taxes!

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Going Concern

MARCH 18, 2024

Nearly seven years ago, I had dropped out of university, despite good academic results, due to poor mental health and spent the last of my savings self-funding my first AAT course – an internationally recognised accounting qualification. It would be a few more years before I was diagnosed with both autism and ADHD at 23 and 24 respectively.

Account 96

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MyIRSRelief

MARCH 15, 2023

There are several back tax help options available for truckers that can help you resolve your tax debt and get back on track. One option for back tax help is to hire a tax professional. They can also help you prepare and file your tax returns, ensuring that they are accurate and complete.

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CTP

JANUARY 4, 2022

Roth IRAs have become a popular option for flexible retirement planning. A benefit to this type of retirement account is the fact that contributions to a Roth IRA are always made with after-tax dollars. Because the contributions in a Roth IRA have already been taxed, withdrawals from that account are not taxable.

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CPA Practice

OCTOBER 23, 2023

Accounting firms know that offering only tax preparation services makes maintaining consistent cash flow and workloads throughout the year challenging. Adding financial services to your accounting firm can help bridge the gap and allow you to have a consistent workload year-round. billion in assets.

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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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CTP

NOVEMBER 23, 2023

If you are working with business partnerships or entrepreneurs trying to decide on an entity type, be sure to introduce them to the tax benefits of establishing a partnership. As a pass-through entity, any income, losses, credits, and deductions from the partnership “pass through” to its partners who are taxed at personal income tax rates.

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LyfeAccounting

NOVEMBER 17, 2020

Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. In addition, I didn’t know the requirements of income taxes, especially for self-employed individuals. In this post, I’m going to fully explain the difference between payroll taxes and income taxes.

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Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? income tax return.

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xendoo

OCTOBER 20, 2021

Should you focus on growing your core business or continue to focus on the administrative side, like managing your accounting and bookkeeping needs? Outsource accounting services can help you stay up-to-date on your books, compliant with regulations, and firmly in control of your company’s financial future. Forensic accounting.

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xendoo

OCTOBER 25, 2021

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

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CPA Practice

OCTOBER 5, 2023

A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. The fourth quarter is for tax planning, not tax reporting. I realize that I’m in the minority in thinking that tax planning is fun. When you retire, your taxable income, and thus your tax rates, fall.

Tax 111

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CPA Practice

JULY 6, 2023

A Section 529 plan is a great way to save for a child’s higher education. You can put money in an account for your child and watch it grow without any current tax erosion until the child is ready to go to school. But Section 529 plans don’t have to be used only for your kids.

income tax 98

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Xero

MARCH 18, 2024

From April 2024, your sole trader and partnership clients will need to follow a tax year basis for Income Tax as part of HMRC’s Basis Period Reform. The 2023/24 tax year is a transitional period, and you’ll need to do some extra admin to make sure your sole trader and partnership clients are compliant.

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xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. Tax Accounting Software.

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Inform Accounting

JUNE 29, 2022

In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more than £10,000 the basis period rules are being reformed. Under the current year basis they only need the accounts to 30 June 2024.

Account 52

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CTP

SEPTEMBER 22, 2022

There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” MUCH more than an accountant merely reporting your taxes!

tax planning 52

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Withum

FEBRUARY 29, 2024

However, unlike Social Security tax, the annual Medicare tax withholding is based on 100% of the employee’s annual gross salary (with limited exceptions such as employee’s contributions to employers’ medical plans). There are a few limited exceptions to this rule most notably if there is an account balance plan.

income tax 105

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CTP

DECEMBER 21, 2021

When the need for emergency funds arises, many taxpayers may be tempted to turn to their retirement accounts. However, if the account holder has not reached full retirement age (FRA), withdrawing those funds early can result in a slew of tax penalties and other deductions. In this case, the funds are exempt from the tax penalty.

tax planning 52

tax planning Tax income tax Education 52

CPA Practice

SEPTEMBER 18, 2023

Roth conversions Taxes are extremely important and can have a huge impact on your retirement income. One strategy that can help lessen your tax burden later in life is converting your accounts to Roth IRAs. At the end of 2025, our current income tax brackets will likely revert to their pre-2018 rates.

Tax 120

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Withum

FEBRUARY 29, 2024

However, unlike Social Security tax, the annual Medicare tax withholding is based on 100% of the employee’s annual gross salary (with limited exceptions such as employee’s contributions to employers’ medical plans). There are a few limited exceptions to this rule most notably if there is an account balance plan.

Tax 97

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Ryan Lazanis

OCTOBER 24, 2022

If you’re having trouble pricing accounting and bookkeeping services for your fixed-price mandates, you’re not the only one (and you’ve come to the right place). Why is Pricing Accounting Services Difficult? Pricing Accounting Services – 4 Steps to Follow. Why is Pricing Accounting Services Difficult? Fixed Pricing.

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CTP

NOVEMBER 9, 2023

Planning for retirement also means planning for retirement income taxes. Creating a tax plan for retirement will ultimately allow you to spend less money on taxes and put more toward the lifestyle you want. Taxable non-retirement investments or brokerage accounts. Pre-tax retirement funds.

Tax 52

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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