Shay CPA

MAY 3, 2023

It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. Fortunately, post-Protecting Americans From Tax Hikes (PATH) Act, things have changed. your quarterly Form 941).

payroll tax 52

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MyIRSRelief

APRIL 3, 2023

Amidst all these demands, managing finances can easily become overwhelming, especially for those who lack a strong financial background. That’s where an accountant (EA or CPA) can help. They can also help prepare tax returns, file necessary forms, and represent the business in the event of an audit.

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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.

income tax 52

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Withum

SEPTEMBER 26, 2023

There are vendors to be paid, receivables to be followed up on, employees to be hired and payroll taxes to be remitted timely. A great source of support for a growing or midsize company is outsourced accounting services. Below are five signs that you are ready to explore outsourced accounting services.

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Going Concern

OCTOBER 27, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. They also expressed doubt IRS would deliver on its promise to not increase audits on those making less than $400,000 per year, promising to hold IRS Commissioner Danny Werfel accountable. “My

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Shay CPA

MARCH 13, 2024

Bringing on more headcount means more payroll (and payroll tax) complexity. More clients mean more to process in accounts receivable, and the vendors you need to serve them mean more accounts payable, too. Everything finance-related in your business falls on their desk.

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CPA Practice

APRIL 12, 2023

Relief that maybe your job as a tax and accounting professional might get marginally easier with added agents available to respond to your calls and responses on behalf of your clients? Or nonchalance, since tax representation isn’t an area that you are particularly interested in as a professional? Not anymore.

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

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CPA Practice

OCTOBER 20, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. Among the warning signs, businesses should be wary of vendors that require large, contingency fees and those who fail to sign the amended payroll tax returns. Throughout his life, Mr.

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CPA Practice

OCTOBER 19, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. Among the warning signs, businesses should be wary of vendors that require large, contingency fees and those who fail to sign the amended payroll tax returns. Throughout his life, Mr.

cpas 52

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Shay CPA

MARCH 22, 2023

will no longer be able to deduct 100% of their expenses starting in 2022 and for future year tax years. If your company receives the R&D Tax Credit, for example, this would mean that those costs will now be capitalized. SHAY CPA P.C. Our team will be more than happy to set up a meeting and talk things through.

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Shay CPA

DECEMBER 2, 2022

Founders – check out our tips below that can save your Startup thousands of dollars in Income Taxes, Payroll Taxes, Sales Taxes, and foreign taxes. . R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits?

Tax 59

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CPA Practice

FEBRUARY 23, 2024

In the hectic world of finance and business, staying ahead of the curve is crucial. Let’s explore two noteworthy possibilities: 1—S Corporations (S Corps) S Corps offer unique tax advantages and flexibility, making them an attractive option for many businesses. By Nellie Akalp.

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CPA Practice

DECEMBER 19, 2023

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. In addition, incorporating, of course, establishes their legal separation from the business’s liabilities sooner, which protects their personal finances from the business’s debts.

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Accounting Seed

JULY 21, 2022

Target maximum revenue, growth, and profit with this in-depth startup accounting guide. If you fail to set up a robust and scalable accounting system from day one, your business will suffer from financial errors, poor planning, growing pains, and a high potential for failure. Challenges For Early-Stage Startups. Cash Or Accrual?

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Snyder

JUNE 20, 2022

However, delegating doesn’t mean staying out of the loop completely, especially when it comes to business finances, primarily accounting. Accounting is the language of numbers. What is small business accounting? Basic steps in accounting for small businesses. Open a business bank account. Contents: 1.

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Ronika Khanna CPA,CA

APRIL 26, 2024

Business tax instalment payments (including GST-QST instalments ) This means that instead of entering the data on the forms that are available via my business account at CRA and RQ and then going to your bank to make payment, either online or via mail, it can all be done at one time through one form that serves as both tax filing and payment.

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Shay CPA

JANUARY 11, 2023

Again, that means you don’t need to establish an entity in the country in which you hire an employee, and you can rest easy knowing Deel’s local experts will maintain compliance with applicable local payroll tax law. . The post Deel vs. Remote: Your Guide to International Payroll appeared first on Shay CPA.

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SkagitCountyTaxServices

APRIL 20, 2022

– Am I late on taxes or struggling to keep up with filling out tax forms? – Am I falling behind on other business requirements because we calculate payroll by hand? Payroll is probably one of your highest expenses, if not the highest. On your side, Steve Padgett (360) 424-1040 Padgett & Padgett, PLLC CPA.

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Snyder

OCTOBER 25, 2022

Having been in accounting for the majority of my career, working both in-office and remotely, it’s fair to say that with some help, accountants can begin their own firm and do everything from taxes and payroll to personal finances. talk with your CPA about which option would be best for both you and them!

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CPA Practice

AUGUST 31, 2023

By Al-Nesha Jones, CPA, MBA Generation X—aka the Sandwich Generation, Latchkey Kids, Baby Busters, and even the Forgotten Generation—will soon be approaching retirement age. Add the retirement conversation to your advisory agenda : Often, clients don’t know what to expect from their accountant or an advisory relationship.

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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

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CPA Practice

DECEMBER 4, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss a new regulatory change coming in 2024, and what firms need to know and do for their clients. Welcome to the technology lab presented by CPA practice advisor with your hosts, Randy Johnston and Brian Tankersley. That’s my URL shortener that I have set up CPA te.ch

Technology 65

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Shay CPA

OCTOBER 4, 2023

Because our team here at ShayCPA specializes in providing accounting services to tech companies, we spend a lot of time working with Section 41 of the Internal Revenue Code. IRC § 41 is what makes it possible to claim a tax credit for research and development, including clinical trials.

Technology 52

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Going Concern

JULY 14, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The Office Ernst & Young out of Triad market after closing Winston-Salem office [ Triad Business Journal ] The Triad now has offices for only two of the Big Four global accounting firms.

North Carolina 93

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CPA Practice

OCTOBER 18, 2023

Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Additionally, examine personal income tax rates and sales tax rates, as they can affect both your business revenue and personal finances — both of which can also impact your ability to attract and retain talent.

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CPA Practice

DECEMBER 8, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss a new regulatory change coming in 2024, and what firms need to know and do for their clients. Welcome to the technology lab presented by CPA practice advisor with your hosts, Randy Johnston and Brian Tankersley. That’s my URL shortener that I have set up CPA te.ch

Technology 52

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MyIRSRelief

DECEMBER 17, 2021

With tax season now right around the corner, it’s more important than ever to get your accounts and payroll 941/940 tax returns in order, rather than potentially find yourself staring down the wrong end of a substantial penalty from the Internal Revenue Service. They know the different employment taxes. Save money.

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SkagitCountyTaxServices

SEPTEMBER 2, 2020

Just in time for the weekend, the IRS issued Friday-evening guidance about the overly-hyped (at first) payroll tax “holiday” There was initial hope that this might be a great shot-in-the-arm for Skagit County businesses and employees, but given how the thing is structured, and the limitations of executive action (i.e.

quickbooks 65

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Shay CPA

FEBRUARY 22, 2023

We submit the appropriate paperwork to the IRS so you can get the credit and we prepare Form 6765 so your accountant can include it in your annual tax return (we can also prepare your annual taxes, by the way). The post Your Guide to 2022 R&D Tax Credits appeared first on Shay CPA.

Tax 52

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Withum

MAY 17, 2022

Opportunities may exist when developing new products and ideas to reduce payroll tax liability and cover the cost of supplies and third-party contractors by qualifying for a refundable R&D tax credit. Your accounting team will need ample time to produce these statements. Keep current with accounting technology.

Technology 52

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LyfeAccounting

JULY 28, 2021

Instead, pay your kids and stop paying the tax on it. So let’s say you’re sole proprietor or LLC, your business is also not required to pay payroll taxes on the income you pay to your child! If you want to know the tax differences between sole proprietor vs. LLC vs. S-Corp , then we also have a post for that.

Tax 52

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Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Without any further ado, IRS-CI’s top ten cases of 2022: 10. government. million in restitution.

Tax 62

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xendoo

JANUARY 30, 2023

An experienced tax professional can identify which credits you’re eligible for and even file them for you. This guide goes over business tax credits that could save you money on taxes. You’ll also learn how to maximize their impact with the help of an experienced CPA or tax accountant.

business tax 52

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LyfeAccounting

NOVEMBER 10, 2020

Also, keep in mind that every industry and business are different so what’s important is you consult your CPA for specific advice on your business. Accounting. Payroll Tax. LYFE Accounting is here to help! appeared first on Small Business Accounting & Finance Blog. Sounds good? Ok, let’s go!

bookkeeping 52

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LyfeAccounting

NOVEMBER 4, 2020

Also, please keep in mind that every business is different so it’s important that you consult your CPA for specific advice regarding your situation. Types of Business Structures and Tax Filings For Each. Similar to employees, payroll taxes such as Medicare and social security should be withheld and paid on every paycheck.

business tax 52

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LyfeAccounting

JUNE 11, 2021

And for these wages, you will need to set up a payroll system to pay yourself through. This is because the wage you pay yourself is subject to payroll taxes , like medicare, social security, state taxes, and individual taxes. But ultimately, the general rule of thumb that almost every CPA we’ve talked to has been

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