Going Concern

JANUARY 10, 2024

Today in clients behaving badly, the DoJ announced Friday that Las Vegas restaurateur Raul Gil, who owns and operates three Casa Don Juan restaurants in the city, is headed to prison for 37 months for evading his federal income taxes. In total, Gil caused a tax loss to the IRS of approximately $1.6 million.

tax return 62

tax return Tax Nevada income tax 62

MyIRSRelief

MAY 15, 2024

Understanding the Importance of Maintaining Tax-Exempt Status One of the primary concerns for any nonprofit is maintaining its tax-exempt status under IRC Section 501(c)(3). This status exempts nonprofits from federal income tax on their earnings related to their exempt purpose. Q: My nonprofit is tax-exempt.

Tax 130

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Withum

JANUARY 25, 2024

Using a forensic account is essential in developing a strategy to handle and defend the findings of a cash-based audit. This becomes even more critical in instances where additional non-tax related charges may be possible or if the audit may result in criminal charges. Why a Forensic Accountant?

forensic accounting 78

forensic accounting audit Account accountant 78

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

audit 105

audit Sales Tax auditor 105

CPA Practice

MAY 15, 2024

The awards also let professionals see the technologies and best workflow practices their peers are using, which can help them stay competitive in the constantly-evolving tax and accounting space. And following dire budget conditions during and following the pandemic, states have greatly increased their sales tax audit activity.

Technology 119

Technology accounting firms cpas Account 119

MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. What are the benefits of accounting & bookkeeping services? Proper accounting and bookkeeping can help them to meet these requirements and avoid potential legal issues.

tax accountant 130

tax accountant Tax Account accountant 130

Ronika Khanna CPA,CA

MAY 5, 2024

Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax. Accounting software has come a long way in the past few years.

income tax 98

income tax Account accountant accounted 98

xendoo

APRIL 20, 2021

Just like a traditional brick-and-mortar business, your eCommerce business needs a good bookkeeping system for essential functions like tracking revenues and expenditures and filing tax returns. If you opt for manual bookkeeping, you’ll need to import all your information from your bank account into your ledger.

bookkeeping 52

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Going Concern

JANUARY 26, 2024

Long Read Corporate Self-Oversight [ The American Prospect ] Four auditing firms examine the books of nearly every big U.S. How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. AI Is your firm keeping pace?

Account 117

Account accountant accounted audit 117

CPA Practice

JANUARY 10, 2024

Simply filing taxes as a “pro” for the tax benefits without meeting these criteria can draw IRS scrutiny. Thorough record-keeping is critical to validating one’s professional gambling status if audited. Accountants must understand the multitude of state-specific policies to best advise clients on minimizing total gambling taxes.

Gambling 80

Gambling Tax Account accountant 80

Bharmal&Associates

OCTOBER 23, 2020

First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty. Getting the S corporation salary right is important. million in revenue and 19 employees: Task.

payroll tax 147

payroll tax payroll income tax cpas 147

MyIRSRelief

APRIL 3, 2023

Here are some ways an accountant can help small business owners: Bookkeeping and Accounting Services: An accountant can assist with bookkeeping and accounting tasks, such as recording transactions, reconciling accounts, and producing financial statements. Q: How can an accountant help with audit support?

Account 130

Account accountant accounted accounting and finance 130

ThomsonReuters

JANUARY 28, 2022

If you aren’t sure whether you can handle payroll management services during tax season in addition to your other work, approach businesses that have their own seasonal employment cycles in the summer and fall (such as landscapers). Bookkeeping. Business tax preparation. That includes: Preparing federal and state income taxes.

Tax 102

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CPA Practice

APRIL 17, 2023

And now, the results are in: IN-FIRM TECHNOLOGIES Federal/State Income Tax Preparation Insight : As was true in every year of voting, the tax prep system category is always the most voted-on, with nearly all respondents selecting a preferred system. We thank the more than 5,000 professionals who participated in voting this year.

quickbooks 130

quickbooks payroll Technology audit 130

Withum

NOVEMBER 3, 2022

For over 15 years, Sherry faithfully served the small labor union as their beloved bookkeeper. In past years, the annual audit was performed by a CPA who was an income tax practitioner. As was usual in its audit practice, ACME CPAs designed procedures to test employee reimbursements. Trust but verify.

Employee Expense Reimbursement 52

Employee Expense Reimbursement Expense Reimbursements Employee Reimbursement Software cpas 52

xendoo

SEPTEMBER 28, 2021

Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021. While it remains to be seen whether they plan to do the same for the 2021 tax year, it is a strong possibility. . The current deadline for business tax preparation and submission is currently April 15, 2022.

tax preparation 52

tax preparation Tax income tax bookkeeping 52

CPA Practice

JANUARY 31, 2024

Here’s how: If you’re careful and follow IRS rules, you can lower your taxable income by deducting their wages and some benefits from your business income. Employed children do have to pay income taxes, regardless of their age, but each child’s income will be tax-free up to his or her standard deduction of $14,600 in 2024).

Tax 126

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inDinero Tax Tips

MAY 10, 2023

Indinero’s virtual bookkeeping service simplifies record keeping. We’ll paint a financial portrait of your business hat valuably informs your decision-making and protects you in the event of an IRS audit. When the time comes, contact us about our virtual bookkeeping services. A bookkeeping system That’s it!

business tax 52

business tax Tax bookkeeping bookkeeping services 52

CPA Practice

JANUARY 11, 2024

Before joining CohnReznick, Kavanagh was a partner for a Big 4 firm where he served as the audit engagement partner for two components of a Fortune 100 aerospace and defense company’s engagement and was the engagement partner at the issuer level for multiple SEC clients.

Delaware 59

Delaware Georgia CPA bookkeeping 59

xendoo

MARCH 18, 2021

Online bookkeeping services with a dedicated accounting team can quickly become an integral resource for your small business — providing so much more than just your monthly reports — you’ll receive a trusted partner that helps you focus on your goals. When you have been audited.

online accounting 52

online accounting Account accountant accounted 52

Going Concern

JANUARY 5, 2024

As the accounting industry continues to move away from commoditized audit and tax services to value-based delivery of holistic business solutions, technology is key to enhancing this value through increased efficiencies and heightened support of our role as trusted business advisors. Trump business got at least $7.8

tax return 108

tax return Virginia accounting and finance audit 108

Snyder

JUNE 20, 2022

Go through business bookkeeping basics. Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making.

accounting basics 52

accounting basics general ledger Account accountant 52

Going Concern

FEBRUARY 23, 2024

Attorney Damian Williams, George Sanossian agreed to conceal clients’ personal incomes and the wages they paid their employees, to reduce federal income taxes and payroll taxes. audit, tax and advisory firm, began leasing office space at Armada Hoffler Tower in Town Center of Virginia Beach in December.

CPA 102

CPA Illinois auditor Iowa 102

MazumaBusinessAccounting

MAY 31, 2022

Remember, the IRS recommends keeping tax-related documents for at least six years. An audit can be performed up to six years after filing if an error is suspected, and you’ll want proof of your purchases if that happens. How Long to Keep Financial Records and Why. You might be wondering how long to keep bank statements.

tax return 98

tax return Real Estate Tax audit 98

Xero

JULY 26, 2022

Accountants and bookkeepers can help businesses be more sustainable. First, is to carry out sustainability audits. First, for policy, it means a progressive extension of HMRC’s Making Tax Digital (MTD) work. It’s time to take a breath and reflect on an awesome event. . This vision has three elements.

Transportation 94

Transportation bookkeeping income tax Tax 94

Snyder

FEBRUARY 7, 2023

In this article, you’ll learn what tax deductions are, which expenses are deductible, and how to minimize the risks of the IRS tax audit. What exactly are tax deductions? How to claim small business tax deductions 2. 12 tax deductions that apply to small businesses 3. What is a 100% tax deduction?

Tax 98

Tax business tax Real Estate Legal 98

Snyder

JUNE 24, 2022

One of the several requirements to sell on Shopify is that you need to declare your tax liabilities, including corporation, income, sales taxes, and potential overseas taxes if you sell internationally. You can then produce your tax returns, check if the information is accurate, and submit them to the relevant tax office.

E-commerce 52

E-commerce tax return bookkeeping accounting software 52

CPA Practice

JANUARY 24, 2023

Outsourcing also helps ease worries and provide operators with comfort in knowing year-end tax preparation will go smoothly, and all accounting records will comply with Sec. 280E for income tax reporting. Instead, business leaders can obtain the bookkeeping support they need by outsourcing their accounting.

Account 40

Account accountant accounted income tax 40

Anders CPA

MARCH 25, 2024

However big this number is, don’t get too excited: This is not your money until it’s earned, at which point it moves into your general cash account (and moves from the liability section of your balance sheet to the income statement as fee income). Mistake #2: Taxes? What Taxes?

tax accountant 116

tax accountant accounting and finance Tax Start-ups 116

CPA Practice

NOVEMBER 2, 2023

Diana has 30 years’ experience in bookkeeping, tax, government auditing and fraud investigations. She is a business coach who champions her clients to succeed, and a networking titan who has built a firm through relationships.

Tax 115

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LyfeAccounting

JANUARY 13, 2021

?. People are paying WAY too much in taxes because they are missing out on tax deductions. More than 2 million people overpay on their income taxes every year because they are missing out on tax deductions that can LEGALLY lower their tax liability. Taxable income. Tax Deductions and Tax Write-offs.

CPA 52

CPA Tax income tax bookkeeping 52

inDinero Tax Tips

JUNE 12, 2023

Mistakenly taking personal expenses as small business tax deductions also opens you to risk during an audit. Indinero’s online bookkeeping services are here to help with this tedious task. Having an experienced tax expert on your side is best for this approach.

payroll tax 97

payroll tax payroll bookkeeping services Tax 97

xendoo

OCTOBER 20, 2021

Should you focus on growing your core business or continue to focus on the administrative side, like managing your accounting and bookkeeping needs? Getting behind in your books can leave you frantically preparing for tax season. IT auditing. Tax preparation. When your business was small, it was easy to handle both.

Account 98

Account accountant accounted bookkeeping 98

CPA Practice

MAY 7, 2023

Diana has more than 30 years’ experience in bookkeeping, tax, government auditing, and fraud investigations. She is a business coach who champions her clients to succeed, and a networking titan who has built a firm through relationships.

Real Estate 110

Real Estate Tax North Carolina cpas 110

Steve Feinberg

JUNE 6, 2023

As a web design business owner, you should always ensure you’re on the right side of the law by complying with tax regulations. Failure to comply with tax regulations can result in a government audit of your finances by the Internal Revenue System.

Tax 52

Tax tax return bookkeeping accounting and finance 52

xendoo

JUNE 24, 2021

Let’s face it, bookkeeping for a business in the real estate industry is complicated. That holds true whether your niche is sales, management, construction, or tax and legal services. Leveraging technology to automatically collect all of this information and incorporate it into a bookkeeping system is sure to lead to better results. .

Real Estate 52

Real Estate Account accountant accounted 52

Snyder

MARCH 6, 2023

The accountant’s role has long transformed from mere bookkeeping to encompassing more duties and responsibilities: from financial reporting and analyzing business performance to helping with taxation (and many more). Apparently, the software could automate a substantial part of the bookkeeper’s and accountant’s work.

forensic accounting 52

forensic accounting Account accountant accounted 52