xendoo

MARCH 21, 2022

Crunching numbers may not be your forte, but every online business needs a strong eCommerce accounting plan. Tracking your financial matters helps you understand the health of your business and ultimately allows you to make decisions based on real numbers, not just feelings. Types of accounting software.

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LyfeAccounting

NOVEMBER 17, 2020

With our first business, LYFE Marketing, I remember stressing to figure out what was the best way to pay my taxes. I missed payroll tax filing deadlines that cost me thousands of dollars. Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. What are Payroll Taxes?

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LyfeAccounting

DECEMBER 31, 2020

For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes. Payroll Tax Filings: Forms That You Need. Payroll Tax Filings: Things to Keep in Mind.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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CPA Practice

FEBRUARY 1, 2024

CPAs and accountants are uniquely positioned to help their clients out with a variety of advisory services. The primary focus for small business owners in 2024 is generating more revenue, with many small businesses wanting to add to their payrolls. That hasn’t changed. Here are the highlights. #1:

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MazumaBusinessAccounting

MAY 11, 2021

We talk with clients everyday about their business and we love it. As accountants, we spend a lot of time with the books and we love the numbers and details, but we get that not everyone does. Part of growing your business is knowing when to pull the lever to hire a professional rather than continue to DIY things yourself.

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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. However, we know that money can be tight for new business owners. .

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inDinero Accounting

JUNE 29, 2023

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. It also explains why only some businesses use GAAP and when it may be time to switch over.

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LyfeAccounting

NOVEMBER 25, 2020

Also, as a disclaimer, I have to say that this is not financial advice and you should always consult with your specific accountant or lawyer. After that, you’re going to have to input the date the PPP Loan arrived in your bank account. After that you’ll get into some more questions such as: What is your payroll schedule?

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Ronika Khanna CPA,CA

APRIL 14, 2022

Decide if you are going to outsource to an accountant or do it yourself Preparing your own unincorporated tax return can be fairly straightforward, especially when using tax preparation software as it guides you through the process. Meals and entertainment that involve clients or business partners. Bank and credit card statements.

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LyfeAccounting

NOVEMBER 16, 2020

For starters, lawmakers have spent the last few months fighting over the next round of relief, including another round of PPP, which has some accountants recommending to their clients that they should hold off on applying for PPP loan forgiveness. Now obviously debt can be especially overwhelming for any person or small business.

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Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

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LyfeAccounting

JANUARY 25, 2021

Compliance, which is making sure you’re paying your employees correctly to avoid big hefty penalties from the government. I’ve been through it all, from trying to figure out how to do payroll for my very first employee, to figuring out how much I should pay my employees. I’ve paid thousands of dollars in payroll tax penalties.

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PYMNTS

MARCH 12, 2019

Les Whiting, chief financial services officer at small business FinServ firm Wave , explained in a recent interview with PYMNTS that the M&A strategy enables service providers to facilitate the data connectivity that small business owners need to manage finances.

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LyfeAccounting

MAY 18, 2021

We’re not sure why people are not taking the government seriously. Or why they think they can get away with lying about businesses and employees when there are so many ways to easily invalidate their loans such as: payroll taxes and. previously filed business returns. Brooks applied for 1.5 Teamwork and Farms.

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LyfeAccounting

APRIL 22, 2021

See, credits provide a dollar-for-dollar reduction of your income tax and are given by the government to reward certain types of behavior that benefit the US economy. And as a result, Amazon not only shows less profit but the government also gives them credits that reduce their tax liability. How to Write Off Taxes Like Amazon.

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xendoo

APRIL 20, 2021

There are a lot of compelling reasons you need a bookkeeper, and for most small businesses, it’s generally more cost-effective to outsource the accounting and bookkeeping services to professionals like Xendoo that work with small businesses than trying to do it in-house. Choose an Accounting Method.

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LyfeAccounting

DECEMBER 28, 2020

And while I can’t tell you if those stories are true or not, or whether or not they’re committing fraud or not… I can tell you for a FACT that there are incentives BAKED into the tax law that allows businesses and individuals to save on their taxes. Why would the government allow businesses to offset their tax payments with tax credits?

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Snyder

JULY 1, 2022

One of the three pillars of financial reporting, the P&L report provides information about the business’s progress, trends in its development, and helps to identify strong points that drive the business forward, as well as weak spots that require special attention. Contents: 1. What is a profit and loss statement (P&L)?

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Ryan Lazanis

APRIL 4, 2022

Do you want to know how to start a bookkeeping business or accounting firm in 2022? In fact, these are the very steps that I followed to help take my heavily bookkeeping-focused accounting business from scratch to sale in only 5 years. Without it, I would be steering a business without a rudder.

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PYMNTS

MARCH 19, 2018

Tax reform is likely to lead small businesses (SMBs) in the U.S. to pay more for accounting services, according to new analysis from the Senate. Reports in Accounting Today said Senator Ron Wyden (D-Ore.), ranking Democrat on the Senate Finance Committee, released a report on the impact of tax reform on small businesses.

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