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Tax Season Best Practices to Avoid Identity Fraud – 2023

CPA Practice

Today’s consumers are aware of the risks and counting on their tax preparers to protect their information. The latest IDology Consumer Digital Identity Study shows that 68 percent of consumers surveyed prioritize the security of the onboarding process as the most crucial factor when opening new accounts online.

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How to File Your GST/HST Return Using CRA My Business Account

Ronika Khanna CPA,CA

The good news is that it is quite easy to file the return online and, in most cases, probably saves you time since you don’t have to put it in an envelope, affix a stamp and take a walk to a mailbox. If you have more complex transactions, that I don’t discuss here and you are not sure, I recommend speaking to an accountant.

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Grab the Documents

FraudFiles

If you have access to any bank, credit card, or investment accounts online, it’s advisable to go into the accounts and download all available statements and supporting documentation. Do it right away in case you lose access to that account later. Bank account information. Brokerage account statements.

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Make Your Taxes Easier with this Detailed Checklist

Ronika Khanna CPA,CA

If you have filed your tax return before either using tax software or with an accountant, this information can be carried forward. Another way to see your T4s is to access your CRA account online, where any of the T4s that have been filed by your owner electronically are posted for the current and previous years.

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Year-End Bookkeeping and Accounting Checklist for Small Business Owners

xendoo

Form W-2 is used by business owners to report salary information for their employees, as well as the taxes that are withheld from their paychecks. Employees need this information to file their personal tax returns. . The information needed to complete this form is listed on Form W-9, which can be collected from your contractors.

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How Do I Pay Myself and My Taxes as a Partnership?

xendoo

Discuss your options with an online partnership accountant at Xendoo. They will provide the financial insight needed to make the most informed decision regarding self-payment in your partnership! . They also report this information on their individual tax return (Form 1040), with a Schedule E attached.

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Ezbob Adds KYC Automation To Lending-as-a-Service Offering

PYMNTS

Those APIs allow for the automatic aggregation and analysis of corporate bank accounts, online accounting platforms, payment service providers and eCommerce portals, among other sources of data. The solution also includes a range of APIs that connect to third-party data sources.