xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Complexity of Services .

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CPA Practice

NOVEMBER 29, 2023

Bookkeep Names Accounting Veteran Alison Ball as Vice President of Marketing and Communications Bookkeep, the leading accounting automation platform for ecommerce and retail, today announced the hiring of Alison Ball as Vice President of Marketing and Communications. We congratulate and welcome them to the Whitley Penn Partnership.”

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PYMNTS

OCTOBER 19, 2020

The Organization for Economic Cooperation and Development (OECD) , which is based in France, said its worldwide tax reform blueprint will be put in front of the Group of 20 finance ministers. The OECD forecasted that the measures could bring in a further $100 billion in business tax revenues each year. .

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ThomsonReuters

JUNE 15, 2022

Tax rules are revised constantly , and changes aren’t always easy to interpret. Now more than ever, your tax and accounting staff require a robust system or framework that leverages technology so that they can keep up with regulatory developments in a timely manner. When do tax law changes take effect?

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PYMNTS

NOVEMBER 24, 2020

after the change of administrations, will include an agreement over taxing Big Tech. President-elect Joe Biden's team about trade and taxes, according to Accounting Today. French Finance Minister Bruno Le Maire’s goals will include ending a conflict over taxing Big Tech and getting the U.S.

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Wellers Accounting

JANUARY 22, 2024

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your liability.

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KROST

JULY 15, 2021

The Technology Issue highlights some of the hot topics in the technology industry including Client Accounting Services (CAS), Nonfungible Tokens, the Effect of Upcoming Changes to IRC Section 174 on the Software Development Industry, and more. Tax , Technology Industry. David Troost is a Tax Senior Manager at KROST. Full Bio.

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Snyder

NOVEMBER 10, 2022

Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. Poor tax planning can result in high penalties with accruing interest rates to the IRS. First, try to make the most out of your accounting software.

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LyfeAccounting

MARCH 16, 2021

According to a recent KPMG report , you can take a full deduction for business meals provided by a restaurant. So for those of you filing your business taxes for 2020 , you will not be able to take a full deduction on your tax return. We offer various tax services so be sure to get in touch with us today at 470-240-1437.

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LyfeAccounting

NOVEMBER 9, 2020

In this post, I’m going to explain all of the tax benefits related to LLCs. It is not meant to take the place of legal and accounting advice specific to your business. The tax loopholes associated with LLCs. Tax Benefit #3: Tax Write-Offs. The next tax benefit of an LLC are tax write-offs.

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LyfeAccounting

MAY 18, 2021

Tax Mistake #1: Not having a separate bank account. The first tax mistake that we see new business owners make is not having a separate bank account for just their business. It is so important to do this so you can clearly keep track of all of your business income and expenses. March 15th. April 15th.

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LyfeAccounting

JULY 28, 2021

And we mean why not involve your kids in your business, show them the ropes, and teach entrepreneurship? All while saving thousands of dollars on taxes. We actually recommend this a lot to our clients as a strategy when they work with our tax planning services. But there are rules and a proper way to do it.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. However, if you need help with your business taxes, LYFE Accounting is just one click away. Contact us now at 470-240-1437.

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LyfeAccounting

APRIL 22, 2021

Business Energy Tax Investment Credit. Here’s a full list of business tax credits from the IRS website. Amazon makes business decisions that will provide them with the biggest tax benefit. In fact, Georgia even publishes an annual 20-page brochure with all of the reasons to start a business here.

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LyfeAccounting

SEPTEMBER 15, 2020

Specifically, wages that are subject to federal taxes, state taxes, medicare, social security, and so on. . A draw is simply money you withdraw from your business. Think of a bank transfer from your business bank account, to your personal bank account. You’re receiving money that has not been taxed.

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LyfeAccounting

FEBRUARY 19, 2021

Now because SMLLC can be classified as a disguised entity, the responsibility for paying income taxes is passed through to the owner. This way of taxing profits is known called pass-through taxation which then references LLCs as pass-through entities. Self-employment Taxes. The 2021 self-employment tax rate is 15.3%.

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LyfeAccounting

APRIL 27, 2021

Based on the average financing rate of a vehicle, which is 5%, you just paid $175 more in interest on your car payments. Other Reasons for Tax Refunds. Well, if you need help with your business tax planning and tax preparation to make sure you’re not paying more than you need to, then get in touch with us today.

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Withum

APRIL 5, 2023

A C corporation that qualifies as QSBS can implement certain tax planning that would allow for the QSBS status to remain in effect for their beneficiaries (i.e., Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. sons, daughters, and granddaughters).

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LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? Now unless you’re an accountant reading this then we know you didn’t go to school to learn taxes and you probably don’t spend your weekends binge reading the tax code. And this can be a tax savings of 30-40%!

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KROST

NOVEMBER 24, 2020

In the last few months of the year, it is important to consider year-end tax planning opportunities, as many may provide both immediate and long-lasting financial benefits. These two incentives can provide significant tax relief in 2020 if financed and placed in service by midnight, December 31, 2020.

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LyfeAccounting

NOVEMBER 3, 2020

Every year, more than 2 million taxpayers overpay their income taxes. This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. Meanwhile, the top 1% are using the tax law to their advantage to minimize their tax liability, oftentimes leaving us clueless….

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LyfeAccounting

NOVEMBER 4, 2020

Sole proprietorship small business tax filings are actually the same as single-member LLCs. For tax purposes, there isn’t a difference between the two and they require the same tax forms filed and taxes paid. Form Schedule C is not actually a separate business tax return. Partnerships. Corporations.

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LyfeAccounting

MAY 3, 2021

But if you have any questions regarding your specific tax situation, give us a call today. We have expert tax consultants , tax planning , and tax preparation services that you can hire for your personal and business taxes. The post Tax Credits vs Tax Deductions: Which One Is Better in 2021?

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LyfeAccounting

MARCH 5, 2021

So by the end of this post, we hope that you’re saving thousands and not paying thousands more than you have to in taxes. Today, we are going to help you select the best entity for your business. We typically charge this information as a part of our tax planning service , but today, you’ll get this information for free.

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LyfeAccounting

DECEMBER 28, 2020

See, what most people don’t understand is that the government uses the tax code to motivate people to take actions related to their economic agenda. Yes, even many accountants I know aren’t aware of the tax incentives that small and large businesses are taking advantage of to DRAMATICALLY reduce their tax liability.

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ThomsonReuters

MARCH 2, 2021

Decide whether to buy or build your tax data software. Your decision-making team should include global users of the tax data software as well as any business stakeholders who would like to harness your tax data. Similarly, senior business leaders profit from improved, real-time reporting and analytics.

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LyfeAccounting

NOVEMBER 23, 2020

The IRS just released the new Income Tax Brackets and Standard Deductions for 2021. Each year the IRS adjusts more than 60 provisions to account for inflation… and tax ranges just so happens to be one of them. This means, right now is a good time to start tax planning for 2021 even though we are still in 2020.

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LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. What an Effective Tax System Looks Like.

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