CPA Practice

APRIL 22, 2024

Host Informative Workshops: Organize free, educational workshops on financial wellness, tax planning, or small business accounting. Enhance Social Media Engagement: Share helpful summer tax tips, reminders for quarterly taxes, or fun posts about your team enjoying summer activities.

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LyfeAccounting

JULY 1, 2021

But in 1931, Capone was found guilty of 22 counts of federal income tax evasion and was convicted to 11 years in federal prison, in addition to $215,000 plus interest due on back taxes. You see, despite publicly displaying his wealth, Capone never filed a Federal tax return. And, we also offer tax resolution services.

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LyfeAccounting

JUNE 22, 2021

For tax purposes, sole proprietors are considered disregarded entities. All this means is that you do not have to file a business tax return when you file your taxes. Instead, you will file a Schedule C when you file your personal tax return. Step 1: Operate out of a business bank account.

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tax return Tax accounting and finance income tax 52

LyfeAccounting

APRIL 30, 2021

BUT, similar to the home office deduction, you can only write the business use of your cellphone. So if 80% of the usage of your cellphone is for business purposes, you can only write off 80% of the cellphone and monthly service on your tax return. So, it can be greatly beneficial to be taxed as an S-Corporation.

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LyfeAccounting

JANUARY 7, 2021

You can also search to see if you already have a DUNS number for your business. But when you’re registering or reviewing your DUNS account, CAREFULLY review the information. You just need to determine what industry your business is in, and find the NAICs code that best matches your business industry.

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LyfeAccounting

APRIL 23, 2021

Now unless you’re an accountant reading this then we know you didn’t go to school to learn taxes and you probably don’t spend your weekends binge reading the tax code. So we’re not going to use a bunch of tax jargon you will read on other blogs. And this can be a tax savings of 30-40%! Final Takeaways.

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LyfeAccounting

DECEMBER 30, 2020

?. Are you tired of paying taxes? Taxes stink. But recently, I heard that some people pay very little in taxes. In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. Know the game and increase your chances of dominating the game. Yeah me, too.

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