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. Contact Us The post 2023 Year-End Tax Planning Checklist for Individuals appeared first on Cherry Bekaert. How will your income change in 2024?

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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. This last strategy combines elements of the first two.

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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). These accounts can be the reason a taxpayer’s tax rate spikes during retirement if they did not effectively plan for the tax deferrals.

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ThomsonReuters

JANUARY 4, 2024

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

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CPA Practice

DECEMBER 10, 2023

Tax preparation has its spotlight, tax planning follows a rhythmic beat … and tax advisory ? While we’ve used terms like tax planning and tax advisory interchangeably because they feel similar, they are quite different—like fall and winter. Proactivity Tax planning is proactive.

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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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TaxConnex

FEBRUARY 27, 2024

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant.

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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.

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CTP

DECEMBER 28, 2021

Understanding the benefits and drawbacks of different retirement plans is crucial to long-term tax planning. Most retirement plan investment earnings are taxed at ordinary income tax rates—you receive an ordinary tax deduction for every contribution, and you pay ordinary income tax rates when you withdraw funds.

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CPA Practice

DECEMBER 21, 2023

To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and individuals. Tax-planning considerations for individuals 1. Leverage retirement account tax savings.

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Anders CPA

DECEMBER 18, 2023

While some provisions are expiring, new regulations and updated rulings introduced by the CARES Act and the Inflation Reduction Act (IRA) will impact entity conversions, deductions and accounting methods for the construction industry. View the 2023 Tax Planning Opportunities for the Construction Industry report from Anders and CICPAC.

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GrowthForceBlog

NOVEMBER 30, 2023

7 min read No matter the size of your company, tax planning can be a major headache because the process can be complex and stressful.

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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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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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Shay CPA

NOVEMBER 29, 2023

It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s income, payroll, sales, and foreign taxes. Before you start operating abroad, you’ll need to file Form 6166 to get a tax residency certificate.

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CTP

JANUARY 9, 2023

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. Business controls are not limited to financial accountability. Build Out Your Systems. Amplify Your Business Controls.

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CTP

OCTOBER 17, 2022

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. Business controls are not limited to financial accountability. Build Out Your Systems. Amplify Your Business Controls.

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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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Anders CPA

NOVEMBER 21, 2023

Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Consulting with a trusted tax professional to determine your eligibility for certain deductible activities is the best way to maximize your tax savings.

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ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. This goes into effect on January 1, 2024.

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Accounting Insight

MAY 1, 2024

And accounting software is no exception. Before delving into the potential impact of AI in accounting, it’s essential to understand the role AI plays in modern accounting practices. In modern accounting, AI is being used to automate several tasks, including data entry, invoice processing and financial statement analysis.

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Insightful Accountant

JULY 23, 2023

Summit Tax & Accounting Advisors’ Rene Carlos examines how to prepare for the tax implications of digital assets.

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Inform Accounting

FEBRUARY 27, 2024

With the closure of the 2023 tax year approaching on April 5, 2024, there remains an opportunity to assess your tax strategies and capitalise on current year-end possibilities.

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Dent Moses

MARCH 21, 2024

Estate planning is not a one-time event; it’s an ongoing process that should adapt to changes in life, business, and tax laws to achieve the best outcomes for your family and assets. The post Estate and Gift Taxes – Plan Now for Reduced Exemption in 2026 appeared first on Dent Moses, LLP.

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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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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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CTP

NOVEMBER 23, 2023

Alternate Test The alternate test must still meet the first two requirements listed above: capital accounts must be maintained according to Section 704(b) and liquidating distributions must follow ending capital account balances. The post Tax Planning for Partnerships: What Are the Requirements for Using Special Tax Allocations?

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KROST

DECEMBER 12, 2022

As calendar year 2022 comes to a close, it is a good time for taxpayers and their advisors to start thinking of planning moves that will help lower their tax bill for this year and possibly the next. The post 2022 Year-End Tax Planning for Individuals appeared first on KROST.

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CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software. By Dominique Molina, CPA MST CTS.

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Going Concern

MAY 2, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Accountingfly can help!

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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

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!

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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. Let’s take a look at some commonly asked questions on retirement income taxes and how your firm can best advise clients as they approach their retirement years.

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Anders CPA

NOVEMBER 21, 2023

When in doubt, consult with a trusted tax professional to determine whether certain deductible activities apply to your circumstances. While this guidance is geared towards individuals and families, check out our year-end tax planning tips for businesses.

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SMBAccountant

NOVEMBER 21, 2022

Managers want to hand off their accounting and let it happen in its own vacuum. Unfortunately, this isn’t quite how accounting functions. Accounting requires input from all levels of the company. An owner wants to do some tax planning. The accountant didn’t know, so they didn’t include that cash in the projection.

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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. – Tax Appeal.

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MyIRSRelief

MARCH 29, 2024

Business Bookkeeping & Accounting Service Effective bookkeeping and accounting are vital for the smooth operation of any business. They provide a clear picture of the financial health of the business, which is essential for strategic planning and decision-making.

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