inDinero Tax Tips

MAY 13, 2024

State and Local Payroll Taxes In addition to the above, businesses are subject to state and local payroll taxes. These vary by location and include income tax, disability, and unemployment insurance. However, you are responsible for withholding income tax from employee paychecks.

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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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Withum

OCTOBER 19, 2022

The IRS is also concerned that these third parties “may not inform taxpayers that wage deductions claimed on the business’ federal income tax return must be reduced by the amount of the credit.”. The IRS has already started to aggressively audit ERC claims, some even before they are paid. Contact Us. Let’s Chat.

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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?

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Withum

MARCH 24, 2022

Kocemba was not paid for any of those services, and he later married the shareholder’s daughter. On its corporate income tax return, the taxpayer claimed a business expense deduction for the cost of Mr. Kocemba’s tuition for the computer coding course. The IRS disallowed the deduction on audit and assessed a deficiency.

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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. What is income tax preparation service? Our Los Angeles tax preparation service is the process of preparing and filing tax returns for individuals or businesses.

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inDinero Tax Tips

JUNE 7, 2023

Recently, the agency revealed they’ll use some of those funds to hire thousands of agents to audit the filings of wealthy individuals and corporations to close “the tax gap.” Let’s look closer at where these funds will go and what implications the changes may have for taxpayers and business owners. Who Will This Impact?

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Withum

JANUARY 8, 2024

Method of Accounting Many have been waiting for clarification surrounding the IRS administrative procedures that should be followed in order to adjust 2022 federal taxable income to follow the IRS interim guidance provided in Notice 2023-63 and, more recently, Notice 2024-12.

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Withum

JUNE 24, 2022

The memos are so generic that they would not even qualify as tax advice that clients can rely on to assert a reasonable cause defense to penalties. Some of these advisors also promise indemnification and audit support if their clients are audited by the IRS. What Issues Can We Expect the IRS To Audit? ERC Generally.

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ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. Business tax preparation. That includes: Preparing federal and state income taxes. Filing quarterly employment taxes.

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inDinero Accounting

DECEMBER 5, 2023

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. It may put you at heightened risk of an audit.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Understanding Deductible Business Expenses.

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CPA Practice

OCTOBER 2, 2023

If it is believed that an already filed claim is erroneous, those that have submitted can withdraw the claim, even if it is already under audit. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG.

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CPA Practice

OCTOBER 3, 2023

If it is believed that an already filed claim is erroneous, those that have submitted can withdraw the claim, even if it is already under audit. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG.

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inDinero Tax Tips

JUNE 12, 2023

However, you can’t deduct what you don’t document and shouldn’t deduct what you can’t prove was a business expense. Mistakenly taking personal expenses as small business tax deductions also opens you to risk during an audit. Having an experienced tax expert on your side is best for this approach.

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Withum

OCTOBER 11, 2023

Therefore, taxpayers were forced to rely on the IRS’s application of software development for the IRC §41 research credit as provided in the audit guidelines and regulatory authorities. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

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xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

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inDinero Tax Tips

MAY 24, 2023

Financial experts speculate this may be because they’re the most common source of improperly reported income. If you’d like to submit your taxes with confidence, consider indinero’s business tax services. On the other hand, C-corporations pay corporate tax, and their owners pay regular income tax on dividends.

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xendoo

JANUARY 26, 2023

The Internal Revenue Service (IRS) can send you a bill for penalties and additional fees. However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. Types of Penalties How Long Can You Go Without Filing Business Taxes?

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Snyder

JANUARY 19, 2023

In this article, we’ll share some tips on how to organize and manage your activities throughout the busy tax season taking advantage of some handy apps that’ll ease your survival and minimize the amount of stress in the future. We need a tight workflow to stay on track to survive this busy time. on an hourly basis.

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