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Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23

Going Concern

Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer. Under his leadership, the Division of Finance has enhanced university business practices and transformed several financial and business information systems to improve customer service for faculty, staff, and students.

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Promotion Watch ’24: Moss Adams Adds 20 Partners to the Roll

Going Concern

Moss Adams ranked #14 on the most recent INSIDE Public Accounting Top Howevermany list with $1.1 The requisite self-fellating news release quote: “For over 100 years, we’ve supported organizations as businesses advisors and accountants,” said Eric Miles, chairman and CEO of Moss Adams. Tax Credits & Incentive Services).

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Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?

LyfeAccounting

As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received. Tax Benefits #3: Low Risk of Audit. Since 2010, S-Corp audits have dropped about 34%.

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Small Business Tax Deductions: Pay Less in Taxes with Business Deductions in 2020

LyfeAccounting

But you want to make sure you’re doing things right , so you can avoid an audit. Let’s go ahead and look at some categories that are 100% tax deductible (meaning they deduct from your revenue, dollar for dollar). Tax Deductible Categories. industry consultant. an accountant. Professional services.

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IRS Audit Red Flags & Triggers: How the IRS Catches You

LyfeAccounting

Now, we want to help you avoid an IRS audit! Although your chances of being audited in general are pretty low, there are certain IRS audit red flags that increase your odds dramatically. 8 IRS Audit Red Flags to Watch Out For. 8 IRS Audit Red Flags to Watch Out For. In 2019, the IRS audited 0.4%

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What Happens if a Business Doesn’t File Taxes?

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However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. When you run a business, it’s easy to fall behind on your books and taxes. A tax accountant can also advise you on deadlines and changes.

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