xendoo

DECEMBER 3, 2021

Between catching their breath after tax season and managing holiday traffic and sales, year-end bookkeeping and accounting tasks understandably fall to the bottom of the to-do list. . Our online bookkeepers provide catch up bookkeeping services , so you can focus on the future. . Get Your Books Caught Up. Xendoo is here to help.

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Going Concern

APRIL 3, 2024

Smishing: A text or smartphone SMS message where scammers often use alarming language such as, “Your account has now been put on hold,” or “Unusual Activity Report,” with a bogus “Solutions” link to restore the recipient’s account.

tax return 94

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CPA Practice

APRIL 22, 2024

Assistance in setting up online accounts Steer clear of anyone attempting to help you create a taxpayer online account on the agency’s webpage. Also, any attempt to file now may be in vain: the agency announced in mid-September that it was pressing pause on processing new claims filed after that date.

Tax 121

Tax tax return online accounting payroll 121

Nancy McClelland, LLC

FEBRUARY 6, 2022

Last year we began requiring all clients to submit a copy of their IRS Account Transcript along with their Tax Organizer and other annual tax prep documentation. If a taxpayer did not receive the full amount, then they are entitled to recoup the difference on their annual tax return. Why would this matter?

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Account accountant accounted tax return 52

Nancy McClelland, LLC

JANUARY 23, 2023

January 23, 2023 — Per IRS 2023-11 , following a successful opening of its systems today, the IRS is now accepting and processing 2022 tax returns; taxpayers have until April 18 to file their taxes this year. Taxpayers may use IRS Free File on IRS.gov, other tax software or a trusted tax professional.

tax return 52

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CPA Practice

APRIL 24, 2023

The IRS also notes that taxpayers who are owed a refund won’t be penalized or fined for filing late, but people shouldn’t overlook filing a tax return when they are due a refund… unless you really want to basically donate that money (your money) to the IRS. 16 to prepare and file 2022 tax returns electronically.

income tax 97

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CPA Practice

JUNE 26, 2023

on July 1, after the sixth largest accounting firm in the nation by revenue officially changes from its current partnership structure to a professional services corporation based in Delaware. Even though partnerships aren’t taxed, they must file a tax return each year unless the partnership has no income or expenses.

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DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Handle payments and manage accounts payable. Prepare the books for tax season. A growing number of small business owners are outsourcing their bookkeeping to cloud-based companies that wrap around accounting software.

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xendoo

JANUARY 31, 2022

In the past, although all business owners were required to report their earnings on their Federal Tax Returns , only those who received payments of $20,000 or more through payment apps also reported their earnings using Form 1099-K. The good news is that this does not mean that business owners now owe additional taxes.

Tax 105

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xendoo

OCTOBER 25, 2021

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

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accrual accounting Account accountant accounted 59

MazumaBusinessAccounting

MAY 31, 2022

At Mazuma, our accounting experts help our clients save and organize important financial information in a secure online portal so the information never gets lost and is easily accessible. Therefore, create a file for all banking and investment records for both your personal and business accounts. Err on the side of caution.

tax return 98

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xendoo

MARCH 16, 2022

As you try to figure out which need to prioritize in your new venture, it is crucial that you first learn how to set up accounting for a new business. While it might seem mundane, good accounting is integral to the success of any business. We will take you through the essentials of setting up your accounting for a new business.

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accrual accounting Account accountant accounted 52

Ronika Khanna CPA,CA

MAY 26, 2023

While submitting your tax return is accompanied by a significant sense of relief, one cannot completely relax until you receive the notice of assessment from Revenue Canada (and Revenue Quebec for those of you lucky enough to file two tax returns). It also provides information pertaining to future years.

tax return 52

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xendoo

OCTOBER 18, 2021

Chances are that your accounting and bookkeeping needs are low on your list of priorities, but that can come back to bite you. Managing your own books may seem like a cost-saving strategy, but many online merchants lack the time or expertise to stay up-to-date and in compliance. Types of Accounting for Your eCommerce Business.

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xendoo

MAY 19, 2021

Handling your own bookkeeping and accounting may seem like an easy corner to cut, but the chances are that you’ll pay for it in one way or another. . You simply might not be able to give your books the time and attention you need—a problem that can snowball out of control and leave you with a disaster once tax season approaches.

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Ronika Khanna CPA,CA

JANUARY 12, 2024

There comes a time for many small businesses or self employed workers when they decide that their current accounting system is no longer working for them. Two choices for reflecting historical data when transitioning your accounting to QBO : You have two choices for bringing in your historical data: 1.

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xendoo

AUGUST 2, 2023

When you first started your company, it might have made sense to try to handle your own bookkeeping and accounting needs. Why not rely on an online accounting service to take these tasks off your plate so you can focus on your business? This is happening for good reasons, as online bookkeeping offers a host of benefits.

bookkeeping 52

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Inform Accounting

JUNE 23, 2022

We appreciate agents' and claimants' patience while we handle these claims and continue to offer the guidance below: To help us process your R&D payment quickly, please ensure you have completed all entries on the R&D section of your Corporation Tax return (CT600 form). Remember to declare COVID-19 grants on your tax return.

Tax 52

Tax tax return corporation tax online accounting 52

xendoo

NOVEMBER 22, 2021

Once you determine the amount you want to take, it can be transferred from your business bank account to your personal account. . Discuss your options with an online partnership accountant at Xendoo. How Do I Pay My Taxes as a Partnership Owner? This amount is reflected on the Balance Sheet, under Owner’s Equity.

Tax 92

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xendoo

AUGUST 24, 2021

Once you decide on an amount to take (more on that in a moment), it can be transferred from your business bank account to your personal account. Once your DBA is set up, you can open a business bank account. Because of this, you are only required to file a personal tax return. Xendoo is Here for You.

Tax 95

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Ronika Khanna CPA,CA

FEBRUARY 9, 2024

While there are numerous payroll software that handle the filing of the T4 and RL1 slips , the RL1 summary is usually left to the employer (and/or their accountants) to file. However, most accounting software, will only produce a non official summary report that then has to be transcribed onto the actual form which can then be mailed.

payroll 98

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Reckon

MARCH 26, 2024

Thousands of Australian individuals and small businesses are now being hit with debts that they may have not been aware even existed – and were invisible on their MyGov account. Many report that their tax agents informed them there was no debt.

income tax 52

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xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. This way you avoid double taxation (where the corporation and shareholders pay tax on the same income).

Tax 52

Tax income tax Non-Profits tax return 52

xendoo

AUGUST 2, 2021

When you first started your company, it might have made sense to try to handle your own bookkeeping and accounting needs. Why not rely on an online accounting service to take these tasks off your plate so you can focus on your business? . This is happening for good reasons, as online bookkeeping offers a host of benefits.

bookkeeping 93

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CPA Practice

JANUARY 11, 2023

Taxpayers who earn or receive income that is not subject to tax withholding such as self-employed people or independent contractors should pay their taxes quarterly to the IRS. In addition, people who owed tax when they filed their current year tax return often find themselves in the same situation again when they file the next year.

Tax 98

Tax income tax Real Estate Non-Profits 98

xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. This way you avoid double taxation (where the corporation and shareholders pay tax on the same income).

Tax 52

Tax income tax Non-Profits tax return 52

Nancy McClelland, LLC

AUGUST 2, 2022

After Forbes reported in early July that starting a month earlier, tax professionals had noticed a higher-than-usual volume of CP-14 notices — the type typically issued when a taxpayer has a balance due on their account — the IRS has finally admitted that this is a systemic issue.

Tax 98

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CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. WINNER: TheTaxBook – Tax Materials Inc. About 40% of our 5,000+ voters cited use of such systems, but most (apx.

quickbooks 130

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LyfeAccounting

JUNE 18, 2021

The reason is tax fraud. There has been a 50% increase from 2019 in flagged tax refunds due to potential identity fraud. Each and every year, any tax return that claims a refund is automatically run through a specific IRS system that is designed to detect fraudulent wage or identity theft-based claims.

Tax 52

Tax tax return tax preparation accounting and finance 52

xendoo

MARCH 18, 2021

A skilled accountant will keep you tax compliant and ensure that you’re always in-the-know and focused on the big picture when it comes to your financials. And cost can definitely feel like a huge barrier here – it can be hard for a small business to afford to hire an accountant. What does online accounting software do?

accounting software 52

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xendoo

AUGUST 16, 2021

From choosing an accounting method to managing transactions to setting up payroll, bookkeeping can be an extremely confusing and time-consuming process! That’s why many business owners decide to get bookkeeping help, whether they use a form of online bookkeeping software or hire an accountant. . What Is Accounting Software?

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xendoo

OCTOBER 1, 2021

Some owners handle their own accounting, thinking they can do it all. Here are some of the reasons why you need current books: Tax Planning. You’ll also need to pay attention to your company’s accounting method. For accrual accounting businesses, you may have to chase down your delinquent clients. . Vendor Accounts.

bookkeeping 98

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xendoo

DECEMBER 15, 2021

The Opening Balance is the amount of money in your bank account at the beginning of a new financial period, such as the start of the month. Be aware that your bank account does not necessarily reflect the exact amount of cash that is available to spend. Financial Accuracy Through Bank Account Reconciliation .

bookkeeping 69

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Snyder

FEBRUARY 7, 2023

Tax deductions are a key financial tool to cut down on tax overpayments. Look through your profit and loss report and research the applicable tax deductions for your business starting from work-related trips and ending with accounting software subscription purchases.

Tax 98

Tax business tax Real Estate Legal 98

CPA Practice

APRIL 29, 2024

Wrestling with sky-high tax season burnout and subpar work-life balance. During the Intuit Accountants “Better Together” event in New York City, the Intuit ProTax Group brought together tax professionals and industry thought leaders. It’s a natural progression to go from QuickBooks to ProConnect Tax.”

Tax 124

Tax tax return Technology bookkeeping 124

CPA Practice

JANUARY 10, 2024

The report says the IRS virtually eliminated its backlog of unprocessed original individual income tax returns (Forms 1040) and substantially improved telephone service. The areas in which taxpayers continued to experience delays were primarily those that required employees to process tax returns and taxpayer correspondence.”

tax return 64

tax return income tax Non-Profits Tax 64

5 Minute Bookkeeping

OCTOBER 28, 2021

Many businesses are switching to virtual offices, which opens up new challenges and exciting opportunities for accountants and bookkeepers. Accounts payable: Melio. Accounting software: QuickBooks Online Accountant. Accounting software: QuickBooks Online Accountant. Receipt capture: Dext.

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