MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. Contact us for tax help today. Tax audits can be time-consuming and require a significant amount of documentation.

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KROST

OCTOBER 21, 2021

In Late September 2021 Governor Newsome signed Assembly Bill (AB) 150 establishing the Main Street Small Business Tax Credit II. This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 and 2021, resulting in unprecedented job losses. Melillo, CPA, Principal.

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RogerRossmeisl

NOVEMBER 9, 2023

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS Audit Techniques Guides (ATGs). A little-known fact is that these guides are available to the public on the IRS website.

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RogerRossmeisl

SEPTEMBER 6, 2021

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques Guides (ATGs).” The post What IRS Auditors Know About Your Business Industry appeared first on Roger Rossmeisl, CPA.

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CPA Practice

AUGUST 23, 2023

The study found that the partner has twice as great an impact on the firm’s cash effective tax rate than did their firm. The study also found that partners were a greater factor in determining the likelihood of an IRS audit. “We Male partners also tended to be associated with a higher likelihood of an IRS audit.

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CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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inDinero Tax Tips

MAY 10, 2023

Tracking expenses and claiming all of the small business tax deductions you’re eligible for can add up to substantial savings, especially for start-ups that reinvest aggressively as they scale. 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.

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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. Contents: 1.

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CPA Practice

JUNE 29, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss technology trends for audits. Now, Brian claims that he is a recovering auditor, I don’t think you ever get audit blood out of yourself at least listening to him, that’s for sure. So I want you to know here that the world of audit is changing rapidly.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. What is Audit Representation and How Can It Help Me in Corona, CA?

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CPA Practice

NOVEMBER 29, 2023

Hood & Strong Announces Audit Management Promotions Hood & Strong LLP, a leading Northern California public accounting and business consulting firm, recently promoted three audit team members to new and expanded roles. She is a member of the American Institute of CPAs and the California Society of CPAs.

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MyIRSRelief

JUNE 23, 2023

Enrolled Agents are empowered to represent individuals, businesses, estates, trusts, and any other entities in all matters related to tax, including audits, collections, and appeals. Contact us for professional tax help today! d) Audit Representation : Enrolled Agents are well-versed in IRS audit procedures.

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RogerRossmeisl

SEPTEMBER 30, 2021

If you’re considering buying or selling a business — or you’re in the process of an M&A transaction — it’s important that both parties report it to the IRS and state agencies in the same way. Otherwise, you may increase your chances of being audited.

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CPA Practice

FEBRUARY 1, 2024

Roseland, NJ-based tax and advisory practice Magone & Co. has signed an agreement to merge with Hackensack, NJ-based CPA firm Wurdemann, Pinto & Co. Financial terms of the deal weren’t disclosed. The combined firm will employ approximately 40 people. Founded in 1992, Magone & Co.

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CPA Practice

APRIL 19, 2023

Everything was handled by a CPA, from collecting client documents to doing the work and delivering the tax return, financial statements or other work products. Today, successful firms realize that every step in that process doesn’t have to be handled by a CPA (or even by a human).

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MyIRSRelief

OCTOBER 3, 2022

Here are some tax services you can use to fulfill the tax process. Los Angeles Tax Preparation Services for Individuals and Businesses. Tax preparation services involve the process of preparing for a tax return such as income tax, state, federal, or local tax returns. Tax Deferment Options.

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CPA Practice

MAY 7, 2023

By Samantha Schafer, CPA. Thinking that only dispensaries have to worry about taxes to their cannabusiness? Entrepreneurs, processors, and cultivators in the cannabis industry may be subject to taxation, and it’s important for them to understand the complexities around their tax implications. Think again.

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MyIRSRelief

JANUARY 16, 2023

They can help ensure that you are taking advantage of all the tax credits and deductions available to you, and can also help you avoid any costly mistakes that could result in an audit or fines. Call Mike Habib, EA today at 562-204-6700 for tax & accounting service.

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Snyder

NOVEMBER 14, 2022

For example, the audit busy season usually lasts for 3 months, from January to March. The tax season is no better — the deadline is usually April 15. How many hours do accountants work during busy season? If you love your clients, you’ll do your utmost to meet your customers’ needs 24/7 while doing their firm tax work.

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ThomsonReuters

JULY 6, 2023

research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do? They may even be a tax attorney.

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Going Concern

JANUARY 19, 2024

The financier accused Disney/Fox of self-dealing with FX, Hulu and Disney+, said its revenue began to shrink and that an audit it commissioned showed breaches of contract. The demand for reporting to better understand a company’s performance and related risks is being coupled to technology to accelerate change in the audit profession.

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CPA Practice

FEBRUARY 21, 2024

By Erin Slowey, Bloomberg News (TNS) The IRS is bringing the hammer down on the ultra-wealthy’s abuse of tax breaks on the use of corporate jets. The agency will begin three to four dozen new audits this spring to parse through situations where inappropriate deductions were made and where personal travel by jet wasn’t logged as income.

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Withum

MAY 5, 2022

The New Jersey Economic Development Authority (“NJEDA”) announced on May 3, that applications are now open through June 30, for the 2022 Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) Program. Author: Sergio Benavides , CPA | sbenavides@withum.com. Life Sciences Services.

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CPA Practice

NOVEMBER 10, 2023

Top 30 accounting firm Sikich has signed an agreement to acquire the operating assets of Thornhill Financial, a Cleveland-based accounting firm that provides tax, audit, and financial advisory services. The deal, which was announced on Nov. 9, is expected to close at the end of this month.

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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. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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Going Concern

JUNE 9, 2023

Big 4 Should scandal plagued PwC take the lead and split its advisory unit off from auditing? Herald Sun ] PwC’s global boss Bob Moritz, insisted that keeping both the auditing business and the advisory division – which gives deal and tax advice, and consulting services – gave it a competitive advantage.

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KROST

JULY 15, 2021

2021 Tax Planning for Tech Companies: Employee Retention and R&D Credits By Guest Contributor Mike Kniss. Disruption and Innovation: Streamlining Client Accounting Services (CAS) By Sossi Bekarain, CPA and Peter Minaian. Kniss, CPA, Managing Principal. Gregory Kniss, CPA, is Managing Principal of KROST. Full Bio.

Technology 52

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ThomsonReuters

JUNE 15, 2022

Now more than ever, your tax and accounting staff require a robust system or framework that leverages technology so that they can keep up with regulatory developments in a timely manner. Top CPA firms have long understood the need to elevate their staff from being tax preparers to tax advisors.

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ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? In fact, more boards and audit committees are, or will be, looking for accountants who understand AI ’ s potential and limitations. Accountant vs. CPA vs. tax preparer: What are the differences? How can accountants be more efficient?

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xendoo

SEPTEMBER 10, 2021

Getting behind in your books also can leave you vulnerable to fines and audits when it comes to taxes or payroll. . If you ever need a business loan, lenders will expect to see copies of recent financial statements. Business Tax Preparation and Filings. Taxes represent a unique SMB bookkeeping demand.

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CPA Practice

FEBRUARY 8, 2024

As financial first responders, accountants often find themselves under immense pressure that is only amplified by the busy tax season. That said, business leaders need to ensure they choose technologies that will successfully address their workforce’s specific needs. Adoption of automation is growing across industries.

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SkagitCountyTaxServices

JANUARY 25, 2023

And that means an increase in audits. But because their new hires won’t be as well-versed when it comes to business taxes, audits will likely target sole proprietorships, as this business structure is the simplest to tackle (at least tax-wise).

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SkagitCountyTaxServices

DECEMBER 29, 2022

Here at Padgett & Padgett, PLLC CPA, we have been talking to various Skagit County clients about this, and have been advising a stance of “cautious preparation” – cautious because having seen these machinations get gummed up in the past, I maintained a believe-it-when-I-see-it perspective. On your team, Steve Padgett.

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CPA Practice

SEPTEMBER 14, 2023

On July 26, the agency announced it was increasingly shifting its focus to review these claims for compliance concerns, including intensifying audit work and criminal investigations on promoters and businesses filing dubious claims.

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CPA Practice

AUGUST 7, 2023

Over the past two decades, the IRS has offered four principal post-filing ADR programs: Fast Track Settlement (FTS) : Available to taxpayers under audit and in the jurisdiction of Large Business & International (LB&I), Small Business and Self Employed (SB/SE), or Tax Exempt and Government Entities (TEGE) divisions.

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CPA Practice

SEPTEMBER 15, 2023

publicly traded, audited financial statements, materiality, taxpayers operating under a robust tax control framework, etc.) Pre-Filing Agreements (PFAs) : Comments are invited on opportunities to increase effectiveness of PFAs to promote tax certainty. limited to domestic issues) or generally (e.g., comfort” requests).

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ThomsonReuters

JANUARY 28, 2022

Business tax preparation. While individual tax season is at the beginning of the year, businesses have tax obligations throughout the year. That includes: Preparing federal and state income taxes. Filing quarterly employment taxes. Helping with tax audits or legal concerns related to taxes.

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