Menzies

JANUARY 20, 2023

Menzies LLP - A leading chartered accountancy firm. We’re devised this ‘Finance Directors’ tax toolkit’ to highlight the ways in which Menzies often help large and multinational companies including business tax, employment solutions and innovation incentives (e.g.

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Snyder

NOVEMBER 10, 2022

The biggest tax season challenge for a small business is tax preparation and filing. 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. You can start with something simple. Accessibility.

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Nancy McClelland, LLC

MARCH 8, 2024

But unlike QB Self-Employed, this is real accounting software that gives us double-entry accounting, adjusting journal entries, and spits out proper financial statements. So, make sure not to check the box to make yourself primary admin when setting it up.

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MyIRSRelief

NOVEMBER 19, 2021

In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. My name is Mike Habib and I’m here to tell you about tax credits for this year that can help save you some money. Tax credits to look out for.

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LyfeAccounting

NOVEMBER 3, 2020

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…. My client is a small business in the construction industry.

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Ronika Khanna CPA,CA

APRIL 12, 2024

Although a small supplier, i.e. a business with annual sales less than $30,000 is not required to file for GST, in some cases it is beneficial to do so. Another benefit of an annual reporting period is that you can invest the GST collected in an interest bearing account until due.

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Additionally, CRA has become much more sophisticated in identifying those who are earning more income that they are reporting via lifestyle audits, site visits and review of social media accounts. Accounting and Tax Considerations for Gig Workers As discussed, there is an administrative burden to being a self employed gig worker.

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Withum

JUNE 6, 2022

Both limitations apply on a per-issuer and per-taxpayer basis, and while the exclusion is limited to the greater of the two rules, in practice, the $10 million rule is most often the limiting factor in start-up ventures. One important issue in determining QSBS eligibility is whether the business is a qualified trade or business (QTB).

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Withum

APRIL 5, 2023

However, by limiting Section 1202 eligibility to C Corporations the larger entity classification population of S corporations cannot entice as many investors for start-up businesses, even though S corporations represent more small businesses across the United States.

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ThomsonReuters

FEBRUARY 8, 2024

So, in order to lower the business’s total taxable income, it makes strategic sense to have as many business-related expenses as possible. These expenses can then be deducted from the LLC’s gross income, lowering the business’s overall tax burden. branding, logos, banners, business cards, etc.)

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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! Unfortunately, many employers had already reduced their tax deposits in anticipation of a fourth-quarter 2021 ERC. 117-58; 11/15/2021).

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ThomsonReuters

JANUARY 9, 2024

That said, C corp taxes can be extremely complex, and only an experienced tax professional can explain how all the rules might apply to any given organization. Many C corporations hire accountants and lawyers to hone their tax strategy, of course, but there are other options for business owners that want to manage their own affairs.

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Angry Accountants

SEPTEMBER 4, 2009

One very smart/dumb move that a lot of Big 4 accountants make is to leave the Big 4 to go to law school. A few people we know worked at the Big 4 for a couple years, then went to law school, and are now doing pretty well for themselves at big law firms or having started their own business/tax law firm. Accountants 1.

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Ronika Khanna CPA,CA

SEPTEMBER 28, 2021

Updated October 2021 Budding entrepreneurs wanting to start up a small business (or become self employed), either on a full time or part time basis, are often not sure where to start. In Quebec, the process of registering a business, depending on your circumstances, is actually fairly straightforward.

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LyfeAccounting

NOVEMBER 2, 2020

So if you’re just getting started or trying to reevaluate your current infrastructure then this post is for you. Now I know a lot of guys out there, especially when you’re in the early stages of starting up, are wondering how to bring on their first employees. Differences Between 1099 and W2 Workers. Contact us today!

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