inDinero Accounting

JANUARY 22, 2024

Terms like “deferred revenue” can confuse non-accountants, but the concept is easy enough. Deferred revenue refers to when customers pay upfront for products or services they will receive later while your accountant recognizes that income over time rather than all at once. Why Use Deferred Revenue Reporting Over Cash Accounting?

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Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. billion in taxes for the industry in 2022. Business Tax Services. Contact Us. Contact Us.

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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Withum

SEPTEMBER 6, 2022

The accounting department’s staffing and sophistication now require an investment to accommodate these challenges. Scaling the Accounting Department. What used to be a process managed through a single credit card and bank account, which were reconciled with minimal time and resources, has now become an overwhelming monthly task.

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

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PYMNTS

FEBRUARY 6, 2020

He added that its alignment with KPMG “allows Thomson Reuters to match its market-leading software with the market leader providing FBT consulting services.”. KPMG’s Employment Tax Advisory group offers employment tax services to help clients manage compliance risks and reduce costs.

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Withum

JUNE 29, 2023

The accomplishments of each individual are evidence of a larger trend—that of professionals going above and beyond, never ceasing to learn, create and innovate to better the future of our Firm and the entire accounting industry. Stephanie Fitzgerald is an expert in SOC audits and Systems and Process Assurance Services.

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PYMNTS

DECEMBER 7, 2018

KPMG is taking further steps into the small business financial services world with a new tax and accounting solution for SMBs, the company announced Thursday (Dec. KPMG Spark will deploy technology from Bookly, acquired by KPMG earlier this year, which offers small business accounting solutions.

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Going Concern

DECEMBER 2, 2022

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. The following is a discussion of what I have found to be the most common reasons why people leave public accounting.

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xendoo

JANUARY 31, 2022

The best accounting practice is to keep personal and business finances under separate accounts, in order to save time and avoid confusion while filing taxes. Consider creating distinct profiles for your business under the payment apps you use. Tax Compliance Done for You . They will provide: .

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Withum

JANUARY 12, 2023

Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023. Contact Us. Let’s Chat.

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inDinero Tax Tips

NOVEMBER 7, 2023

Net Operating Loss Limitations Record Keeping and Documentation Conclusion Navigating tax advantages like net operating losses can be a headache. InDinero’s business tax services can save you time and money, as our team of professionals will ensure you’re making the most of every tax year.

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Withum

MAY 19, 2022

There are several reasons why you may have received an IRS notice relating to a failure to make a proper federal tax deposit on your Form 941: The payment did not clear the bank; The payment was applied to the wrong IRS Form; or The payment was never initiated. Business Tax Services. Do not throw out or ignore the notice!

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PYMNTS

FEBRUARY 8, 2019

Corporate accounting and auditing firm KPMG is shuttering its small business services unit, reports in The Business Desk said Thursday (Feb. According to the publication, KPMG’s Small Business Accounting (SBA) service, which launched in 2014, will be closed in the U.K. will remain unaffected.

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xendoo

APRIL 27, 2023

While you may pass off your tax return filing to a professional, it’s helpful to understand what’s going on with your business taxes. If you’re a small business owner trying to understand Form 1065 and its requirements, this guide will clear things up for you. As with any business tax form, there are exemptions.

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xendoo

APRIL 27, 2023

While you may pass off your tax return filing to a professional, it’s helpful to understand what’s going on with your business taxes. If you’re a small business owner trying to understand Form 1065 and its requirements, this guide will clear things up for you. As with any business tax form, there are exemptions.

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CPA Practice

NOVEMBER 22, 2023

KBKG , a provider of tax services for CPAs and businesses, has identified three changes that the IRS has implemented; each one could have strong impacts on businesses. Tax-exempt entities can also benefit from the 179D Tax Deduction through a design rebate received from the project’s designer.

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Withum

JANUARY 31, 2024

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

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CPA Practice

MARCH 8, 2023

The new corporate AMT applies a 15 percent tax to a company’s  adjusted financial statement income  (AFSI). AFSI is a company’s net income or loss reported on its applicable financial statements (AFS), such as a Form 10-K filed with the SEC, including tax and accounting adjustments.

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CPA Practice

MAY 9, 2024

What challenges does Copilot solve for accounting firm marketers? Prompt : Write a 400-word blog post about [the benefits of outsourcing your accounting] for [small- to mid-sized companies] in [the Northeast]. Copilot can help you craft engaging posts, as well as schedule it to your social media accounts.

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xendoo

JANUARY 31, 2022

The IRS Schedule C is used by sole proprietors and single-owner LLCs to report your small business taxes and is part of your personal tax return. We understand that business taxes can seem confusing, if not overwhelming. In this instance, the couple will use two Schedule C forms when filing small business taxes.

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Withum

FEBRUARY 27, 2023

Over the past few days, the IRS has issued several updates regarding tax relief for victims of severe winter storms, flooding, landslides, and mudslides. The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments.

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Going Concern

NOVEMBER 10, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Now’s the time so check out Accountingfly’s top remote accounting candidates of the week. Note: We’re skipping Footnotes next Friday to unveil a surprise.

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xendoo

APRIL 3, 2023

For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. Which should you claim to get the most tax savings? You might be unaware that you qualify for multiple credits that will lower your total tax burden significantly.

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ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

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MyIRSRelief

OCTOBER 18, 2021

If you’re income is considered to be, on the whole, in the low or moderate region, this tax credit is likely aimed at you. If you are eligible, it is certainly worth contacting a professional tax service to help you claim the credit because it is a good one. Savers Tax Credit. Business Tax Credits.

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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. What if I’ve Paid for a Business Expense With a Personal Account?

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xendoo

MAY 16, 2023

Table of contents Why do businesses need receipts? Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts?

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xendoo

MAY 16, 2023

Table of contents Why do businesses need receipts? Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts?

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Withum

JUNE 27, 2022

Now that we are halfway through the new year, most companies have wrapped up their books and records for 2021 and sent them to their accounting professionals for tax and audit preparation. It is essential to review the books and records for any current month activity that might not be reflected in cash or credit card account activity.

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inDinero Accounting

DECEMBER 5, 2023

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. Table of Contents What is the QSBS Exemption? A C Corporation must issue the shares.

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Cherry Bekaert

MAY 3, 2024

tax advisor who is a member of a worldwide accounting and advisory firm alliance to find the best foreign tax advisor. Your Guide Forward Expanding a business globally can be risky but can also have huge rewards. Contact Us Related Global Business Tax Services Thought Leadership Podcast: Inbound U.S.

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Withum

JANUARY 8, 2024

The IRS released two pieces of favorable guidance on Friday, December 22, 2023, clarifying the definition of contract research and identifying automatic changes in accounting methods for the 2023 taxable year in relation to Section 174 research and experimental (“R&E”) expenditures.

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Withum

NOVEMBER 29, 2023

and it generally does not include a business’s accountants or lawyers, Board members, or partnership representative (s ee FAQ D.6 Can I engage a lawyer or accountant to assist me with reporting? Yes, even though FinCEN expects many, if not most, businesses will be able to submit the information on their own. See FAQ #B.7.

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xendoo

JANUARY 6, 2022

By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. Pay Self-Employment Tax. Pay Quarterly Estimated Taxes .

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inDinero Tax Tips

MAY 13, 2024

How Much Is Payroll Tax? How to Do Payroll Yourself Benefits of Outsourcing Payroll Conclusion Want to familiarize yourself with essential accounting terms and concepts for business owners? Download our accounting alphabet for entrepreneurs. What Are the Types of Payroll Taxes?

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