LyfeAccounting

MAY 21, 2021

And, specific accounting advice should come from your contact attorney or CPA. So let’s go ahead and dive into the biggest tax write offs for LLC businesses. 12 Biggest Tax Write Offs For LLC Businesses. Organizational costs are the costs to incorporate your LLC such as legal fees and state fees.

Tax 98

Tax Legal tax planning accounting and finance 98

xendoo

JULY 6, 2023

You use the same bank account for both business and personal expenses. For many businesses, hiring a professional tax service is the best choice for keeping organized records and filing accurate tax returns. We’ll get to know your business better and identify the best services for you.

audit 52

audit tax return Entertainment income tax 52

xendoo

JULY 6, 2023

You use the same bank account for both business and personal expenses. For many businesses, hiring a professional tax service is the best choice for keeping organized records and filing accurate tax returns. We’ll get to know your business better and identify the best services for you.

audit 52

audit tax return Entertainment income tax 52

Ronika Khanna CPA,CA

APRIL 14, 2022

If you are not able to do your tax return by May 2nd, you might want to consider estimating your taxes payable and making an instalment payment to avoid interest charges. If you are planning to outsource, you should find an accountant as soon as possible as they tend to be very busy at this time of year.

Tax 52

Tax tax return business tax accounting and finance 52

LyfeAccounting

JUNE 9, 2021

Our goal for today’s post is to explain the cryptocurrency tax loophole in an easy-to-understand manner, so you can benefit from it. A quick disclaimer that this is not financial or legal advice, and you should consult with your personal CPA or lawyer regarding your specific situation. Let’s dive in. Quick Cryptocurrency Story.

Tax 59

Tax tax preparation accounting and finance Sales 59

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.

Tax 52

Tax tax return business tax income tax 52

LyfeAccounting

MAY 27, 2021

By incorporating a business or forming an LLC, you create a business that is legally separate from the owner. Read this post to learn more about how to incorporate a business. Businesses need an EIN to open a business bank account and obtain business credit. Step 2: Get an EIN.

accounting and finance 52

accounting and finance Legal Start-ups tax preparation 52

LyfeAccounting

MAY 18, 2021

Well, this post will highlight some of the things that you should NOT do as a new business owner or business owner, in general. 7 Tax Mistakes Business Owners Make. Tax Mistake #1: Not having a separate bank account. O r else, their business is at risk of being shut down. Tax Mistake #5: Filing late.

Tax 52

Tax tax return accounting and finance Real Estate 52

LyfeAccounting

JUNE 18, 2021

But once you do, you’ll be able to access your IRS account online and perform different activities like verifying your identity with them. If you’re unable to access your online account, then you would need to call the IRS directly and the agent may be able to verify your identity over the phone.

Tax 52

Tax tax return tax preparation accounting and finance 52

LyfeAccounting

JANUARY 14, 2021

If you are self-employed, congratulations, you now have to make tax payments every quarter of the year or Uncle Sam will pay you a visit to drop off interest and penalties. I myself have to pay quarterly tax payments and here at LYFE Accounting, we help business owners pay theirs. But don’t worry. Ready to dive in?

Tax 52

Tax accounting and finance tax preparation income tax 52

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.

payroll tax 52

payroll tax payroll Tax income tax 52

LyfeAccounting

OCTOBER 21, 2020

Tax Deductible Categories. When you’re starting and operating your business, you’re likely going to need some help. You may need some: legal advice. an accountant. But you get another tax deduction here. IF you meet these requirements: You are legally liable for the loan. Professional services.

business tax 52

business tax Tax tax return Education 52

LyfeAccounting

APRIL 28, 2021

So, the vehicle tax deduction can allow you to purchase your dream car, basically for free. Of course, you have to go about this in a very smart and legal way to successfully pull this off. And if want real savings from your taxes, our tax planning , and tax preparation services is just what you need.

Tax 52

Tax tax preparation Start-ups small business accounting 52

LyfeAccounting

OCTOBER 18, 2020

A budget creates a financial roadmap for your business. It Helps You With Tax Preparation. In most cases, your business has to file a tax return every year. Even more, you also have to file a personal return that requires your business return be filed. It Helps You With Financial Management.

bookkeeping 52

bookkeeping financial statements audit accounting and finance 52

LyfeAccounting

OCTOBER 28, 2020

5 Year End Tax Tips You Can Try. Tax Tip #1 – Contribute to your retirement account. If you haven’t already done so, max out your annual contributions in your 401k or IRA account. This tax tip is actually 2 fold. This tax tip is actually 2 fold. The post 5 Year End Tax Tips for 2020 and Beyond!

Tax 40

Tax tax planning accounting and finance tax preparation 40

LyfeAccounting

MAY 27, 2021

Now, remember, this post is for informational purposes only, and by no means are we giving you legal or tax advice. If it is your first time owing additional taxes, you can actually call the IRS and request a first-time penalty abatement. This would eliminate the tax penalties they added to your account.

tax return 52

tax return audit Tax accounting and finance 52

LyfeAccounting

FEBRUARY 9, 2021

You’ll want to consult with a CPA , or your tax and legal advisor regarding your specific business. 4 Tax Benefits of S-Corps. We hope this post will help you determine if an S-Corporation is the right fit for your business, and so you can take advantage of the tax benefits of S-Corps. Ready to talk S-Corps?

Tax 52

Tax audit New Hampshire income tax 52

LyfeAccounting

MARCH 10, 2021

You see, the IRS will send you several letters telling you about the owed amount, tax penalties, and tax interest. And if you ignore them, the IRS could determine that you are evading taxes or committing tax fraud, which could put you on the hook for legal fines. And even jail time. Request a Penalty Waiver.

Tax 52

Tax tax return Real Estate Government 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. Or the interest!?) .

accounting software 52

accounting software online accounting Account accountant 52

LyfeAccounting

APRIL 8, 2021

Note that this post is for educational purposes and you should contact your attorney or legal professional for specific advice for your situation. And if you want to ensure your taxes are being prepared and filed accurately, you can reach out to one of our tax consultants. And, the IRS loves catching them.

audit 59

audit Gambling tax return Tax 59

LyfeAccounting

MAY 13, 2021

In this post, we’re going to break down the capital gains tax on real estate transactions to help you understand and minimize any taxes you might owe. Of course, this is not legal advice and we are writing this post for informational purposes only. Alright, let’s talk about the capital gains tax.

Real Estate 52

Real Estate Tax Sales tax preparation 52

LyfeAccounting

FEBRUARY 24, 2021

?. How much money will you be paying in taxes this year? Hopefully, the lowest amount legally possible! To help you do just that, we’ll be going over the 12 most overlooked tax breaks you can take today. The more tax deductions and credits you get, the more money you get to keep. 0% Tax on Capital Gains.

Tax 52

Tax Real Estate Education Legal 52

LyfeAccounting

DECEMBER 30, 2020

Stay tuned as today, we’re taking a look at how you can pay very little in taxes with real estate, legally. Now we just wrote a post about the new tax brackets going into 2021, which you can read in this link. But it’s important that you first understand how taxes work. Contact us today!

Real Estate 52

Real Estate Tax income tax Gaming 52

LyfeAccounting

NOVEMBER 4, 2020

Sole proprietorship small business tax filings are actually the same as single-member LLCs. The only difference between a sole proprietorship and a single-member LLC is an LLC legally protects the owner’s assets in case of a lawsuit. LYFE Accounting has everything you need for your business’ tax filings.

business tax 52

business tax Tax tax return payroll tax 52