Withum

FEBRUARY 8, 2023

But as with any popular tax credit or deduction, the IRS is sure to be close behind. We’ve written about IRS audits rolling out last July, and the IRS followed up our article with a warning to taxpayers regarding third-party promotion of improper ERC claims. An IRS audit can be scary, but this is especially true with ERC audits.

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MyIRSRelief

SEPTEMBER 20, 2021

IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Levy – we release wage and bank levies. – Tax Audits.

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MyIRSRelief

MAY 15, 2024

Common 990 Compliance Issues: preparation & planning Misclassification of volunteers as employees, leading to potential payroll tax liabilities. Improper reporting of reimbursements under accountable plans, as outlined in IRC Section 62(c). and foreign tax laws. Do we need to worry about payroll taxes?

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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Snyder

DECEMBER 28, 2022

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. In fact, according to the IRS data , only about 1 percent of taxpayers are facing an audit. percent of small businesses are getting tax audited. What is a tax audit? What does a tax audit mean?

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MyIRSRelief

JANUARY 2, 2023

Owing back taxes: If you owe back taxes , personal income tax, corporate income tax, or employment 941 payroll tax, the IRS may take enforcement action, such as placing a lien on your property or garnishing your wages and levying your bank accounts.

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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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SMBAccountant

NOVEMBER 17, 2021

This typically happens in at least 2 withdrawals; net pay and payroll taxes. You would post the net pay to a labor expense account and the payroll taxes to a payroll expense account. This is incorrect and causes labor to be understated and taxes to be overstated. Many do nothing.

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MyIRSRelief

NOVEMBER 29, 2019

They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government. If they fail to do at the prescribed time they will have a payroll tax problem. Get a free case evaluation 1-877-78-TAXES [1-877-788-2937].

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SMBAccountant

MAY 17, 2024

Are you a small business owner seeking expert guidance on accounting practices? Establishing a core understanding of key accounting principles not only instills confidence but also ensures compliance with accounting and government regulations. These services can facilitate growth and financial management.

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MyIRSRelief

MAY 1, 2024

Your tax professional will guide you through tasks like payroll tax deposits, estimated tax payments, and state and local tax regulations for your chosen business structure (C corporation, S corporation, or partnership), ensuring smooth sailing with tax authorities.

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inDinero Accounting

DECEMBER 13, 2021

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. However, even with an accountant, you still need a way to keep records. However, even with an accountant, you still need a way to keep records.

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Cherry Bekaert

OCTOBER 5, 2023

Accounting , fondly known as the ‘language of business,’ tells the story of how a business is performing. 1) Fast-forward to present day and the fundamental concepts performed by modern bookkeepers and accountants remain, but functionality and performance look vastly different in the age of all things digital.

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CPA Practice

OCTOBER 17, 2023

Here’s what you need to know: If the individual works for an employer, the Social Security tax is withheld from the paycheck and gets reported by their employer through payroll taxes. It is important to note that if the individual is receiving a W-2, the individual and their employer each share the tax burden of 6.2%.

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Withum

JANUARY 4, 2024

Click Here Listen in as John Smith and James Trubenbach-Byrne discuss in this timely webinar how to ensure your healthcare organization is prepared for all the year-end tax accounting and auditing qualifications. View On-Demand Webinar Learning Objectives: Interpret implementation and general tax updates.

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Bharmal&Associates

OCTOBER 23, 2020

First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty. Cost Approach. million in revenue and 19 employees: Task. Planning note.

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CPA Practice

APRIL 12, 2023

Relief that maybe your job as a tax and accounting professional might get marginally easier with added agents available to respond to your calls and responses on behalf of your clients? Or nonchalance, since tax representation isn’t an area that you are particularly interested in as a professional? Not anymore.

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MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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MyIRSRelief

OCTOBER 3, 2022

Some taxpayers may experience trouble with the IRS if they have unpaid back taxes, unfiled tax returns, tax debt, or IRS/state tax audits. There are 3 different types of tax representatives: Certified Public Accountant (CPA) – they are state licensed to offer public accounting services.

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ThomsonReuters

APRIL 18, 2023

For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? One way firms can help employers is to p erform a payroll audit. Who makes them?

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MyIRSRelief

JANUARY 6, 2020

Maybe you’ve heard the term Audit. They could ruin your credit score, seize your assets, and put you in jail for tax evasion. But, you protest, you paid off all your federal taxes and only owe State! Let’s take a look at a couple of Back Taxes scenarios: You didn’t file your returns. You’re facing Tax Liens or Levies.

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inDinero Accounting

DECEMBER 13, 2021

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. However, even with an accountant, you still need a way to keep records. However, even with an accountant, you still need a way to keep records.

NetSuite 59

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CPA Practice

OCTOBER 16, 2023

Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Tasks like meeting minutes might not be the most exciting part of running a business, but they are crucial for ensuring transparency, accountability, and legal compliance. By Nellie Akalp.

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ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

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Shay CPA

MAY 15, 2024

In that case, payroll taxes will get complicated fast. Bringing on someone who specializes in payroll can help you overcome obstacles and stay compliant. As accountants who specialize in working with tech startups, we’re exposed to a lot of leading-edge finance software.

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CPA Practice

JANUARY 19, 2024

Accounting Thought Leaders Say CAS Will Become a Must for Firms in 2024 As technology continues to dramatically shape the accounting profession, the latest big conversations have been around AI and automation. The Role of Accounting in CAS 7. Or is it CAAS (Client Accounting and Advisory Services)? Pricing CAS Services 4.

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CPA Practice

OCTOBER 18, 2023

Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Tasks like meeting minutes might not be the most exciting part of running a business, but they are crucial for ensuring transparency, accountability, and legal compliance. By Nellie Akalp.

Legal 106

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inDinero Tax Tips

JUNE 12, 2023

One of the most common problems for startup founders is the commingling of funds: when you pay for personal transactions from a business account, or visa versa. You’ll reimburse yourself if you’ve used personal accounts to pay for business expenses. The solution to commingling funds is simple but tedious.

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ThomsonReuters

APRIL 18, 2023

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. What are the current issues in accounting? but there are several common hurdles that often run industry wide.

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ThomsonReuters

APRIL 6, 2023

Whether you’re an accountant, a small business owner, or a professional working within an organization, understanding what accounts payable is and how it works is essential. As an important cash flow indicator, accounts payable is a sign of the health of a business. Often, accounts payable is abbreviated as “AP” or “A/P”.

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xendoo

SEPTEMBER 10, 2021

Every small business owner should have access to an accountant. A small business accountant can provide guidance at every stage of your company’s development, and they can be invaluable when it comes to tax preparation, succession planning, and more. But finding the right accountant is about more than just cost.

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inDinero Accounting

JUNE 29, 2023

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. What are Generally Accepted Accounting Principles (GAAP)?

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CPA Practice

FEBRUARY 23, 2024

For businesses wanting to keep the administrative simplicity enjoyed by LLCs, S Corps allow simple transfer of ownership, support a cash accounting method, and streamlined financial management. Also, S Corps may attract closer scrutiny from the IRS, potentially leading to more audits and compliance issues.

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Snyder

FEBRUARY 13, 2023

Finance and accounting are the foundation of every business, whether it’s a small venture or a large corporation. In this article, we’ll review finance and accounting outsourcing (FAO), in particular its benefits for small and medium businesses. To automate your finance and accounting, sign up for a free trial or book a demo.

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inDinero Accounting

DECEMBER 22, 2021

Keeping records is also crucial to protecting your business – especially since the IRS is planning to increase business audits by 50%. With reliable enterprise accounting software, businesses can have up-to-date information about their finances in real-time. What is Enterprise Accounting Software?

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Withum

JANUARY 4, 2023

It is a refundable payroll tax credit that applies to certain wages paid to employees starting March 13, 2020. We Provide an Audit Guarantee! One such promise is the offer to provide audit “support,” which is not the same as promising to hire a qualified lawyer or accountant to represent you before the IRS if you are audited.

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inDinero Accounting

DECEMBER 22, 2021

Keeping records is also crucial to protecting your business – especially since the IRS is planning to increase business audits by 50%. With reliable enterprise accounting software, businesses can have up-to-date information about their finances in real-time. What is Enterprise Accounting Software? Simplified tax filing.

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