Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Meals and entertainment in which business was discussed. With certain exceptions, only 50% of meals and entertainment can be written off. You must be able to demonstrate that the meals related to earning business income. Life insurance premiums are not tax deductible unless the beneficiary is the business.

Tax 52

Tax tax return business tax income tax 52

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. . Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

Tax 52

Tax income tax Legal Entertainment 52

Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

Tax 52

Tax tax return business tax accounting and finance 52

FraudFiles

FEBRUARY 3, 2022

Personal income tax returns (Form 1040) for the last 5 years, including any amended returns. W-2 and/or pay stubs for all years for which personal income tax returns have not yet been completed or filed. Copies of personal financial statements prepared for any purpose in the last 3 years.

Real Estate 52

Real Estate tax return income tax accounting and finance 52

Snyder

DECEMBER 28, 2022

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. In fact, according to the IRS data , only about 1 percent of taxpayers are facing an audit. percent of small businesses are getting tax audited. What is a tax audit? What does a tax audit mean?

audit 98

audit Tax tax return auditor 98

Withum

FEBRUARY 1, 2023

LIFO The Last-In First-Out inventory method is a common inventory valuation method used by many dealerships that can help taxpayers lower their income tax for a period of time. In order to use the LIFO method, a taxpayer must file Form 970 with their tax return to make the election.

accounting and finance 52

accounting and finance income tax Tax CPA 52

inDinero Tax Tips

MAY 24, 2023

A crucial prerequisite for calculating net income is proper documentation of business expenses. You need to have a clear picture of what you’re spending on your business, not to mention the IRS requires documentation for all business expenses claimed on tax returns. This is how you’ll report the amount of federal tax withheld.

Tax 52

Tax income tax tax return Legal 52

xendoo

SEPTEMBER 19, 2022

As long as a trip is primarily for business, you could claim it as a business travel expense (within reason) and save some money on taxes. Here’s how to follow the rules while saving a bundle on your tax return. For a business trip to qualify for a tax deduction , it needs to meet these criteria. Entertainment.

Entertainment 105

Entertainment Transportation Tax tax return 105

Accounting Insight

FEBRUARY 1, 2024

Such a business tax enquiry is not to be confused a regular compliance check into personal tax returns or simpler corporation tax returns, which typically focus on a single tax year or accounting period, and sometimes just a handful of aspects. What is a business tax enquiry / hmrc corporate enquiry ?

corporation tax 52

corporation tax tax return accounting and finance business tax 52

ThomsonReuters

FEBRUARY 8, 2024

LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns.

Tax 52

Tax income tax payroll tax Healthcare 52

AdviceForTaxpreparers

JULY 29, 2019

I put together this post to bring together any funny and entertaining accounting and tax videos, puns, jokes, pictures, etc. Be audit you can be. AT THE IRS “Why are we paying so much tax?” It’s an accrual world, audit can help you bridge the GAAP. Interstellar Tax Debt Self Prepared Tax Return Mindset?

tax preparation 212

tax preparation Account accountant accounted 212