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Tax Season Best Practices to Avoid Identity Fraud – 2023

CPA Practice

Tax season is always stressful. Hurried filers inundate tax preparers working furiously to help their clients file on time while the dreaded tax deadline looms. However, it’s important to pause and reflect on your data privacy standards, digital communication norms, and potential vulnerabilities this tax season.

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How to Prepare Your Small Business for the New Year

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Prepare for Tax Season Now. The earlier tax preparation starts, the greater the savings will be when tax season arrives. Start by taking a look at your financial statements and tax bills from previous years, which will provide an idea of what will be owed this year. Outsource Your Bookkeeping .

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How To Find The Right Online Accountant For Your Business

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Every small business owner should have access to an accountant. A small business accountant can provide guidance at every stage of your company’s development, and they can be invaluable when it comes to tax preparation, succession planning, and more. But finding the right accountant is about more than just cost.

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8 Benefits of Online Bookkeeping

xendoo

Conversely, an online accounting firm can often provide experience in such areas as: Personal financial planning and assistance Forensic Accounting Managerial Accounting IT auditing Non-profits Tax Preparation Some of these tasks tend to be cyclical, such as your annual tax preparation.

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Learn When Your Should Outsource Your Accounting

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Outsource accounting firms can often provide experience in unique areas such as: Personal financial planning and assistance. Forensic accounting. Managerial accounting. Tax preparation. Outsource accounting teams can minimize these errors, eliminating the expense associated with mistakes. IT auditing.

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How Do I Pay Myself and My Taxes as a Sole Proprietor?

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Be aware that sole proprietors are required to withhold self-employment taxes, which contribute to Social Security and Medicare. As of right now, the self-employment tax rate is 15.3%. So, how can you maximize your tax savings? Business tax preparation and filings are included with almost all of our packages!

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New Update: Tax Refund Delays Due to Fraud!

LyfeAccounting

In many cases, you will be given the option to verify your identity online at irs.gov using Secure Access. But once you do, you’ll be able to access your IRS account online and perform different activities like verifying your identity with them. Thoroughly vet your tax preparer before giving them your personal information.

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