Remove audit Remove income tax Remove small business accounting Remove tax planning
article thumbnail

The Best Tech for Accounting Firms: CPAs Voted for Readers Choice Tech Awards

CPA Practice

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. But even basic tax planning can make a big difference in reducing future tax liability. Now, on to the results!

article thumbnail

Los Angeles tax, accounting service

MyIRSRelief

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. Create a plan: Develop a plan for organizing and cleaning up your books. What are the benefits of accounting & bookkeeping services?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

2023 Readers’ Choice Awards – The Readers Have Voted!

CPA Practice

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.

article thumbnail

What Does A Tax Extension Mean For You?

Nancy McClelland, LLC

In some states, filing an extension with the IRS will automatically extend the time to complete a state income tax return. Filing an extension grants you additional time to submit your complete and accurate return, but you still need to estimate whether you will owe any taxes and pay that estimated balance by the original due date.

Tax 98
article thumbnail

Why a Big Tax Refund is Not a Good Thing

LyfeAccounting

So in actuality, you paid more in income taxes than was necessary by law. Fast forward, a year later and the store during its annual audit or something realizes you mistakenly paid more for the computer than necessary and they decided to give you $500 back. The Child Tax Credit or CTC. Earned Income Tax Credit.

Tax 52
article thumbnail

How Much Is a Tax Consultant?

xendoo

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues.

article thumbnail

How to Deduct and Write-off Almost Anything from Your Taxes

LyfeAccounting

Other than taking the standard deduction or itemized deduction, there is very little that the average taxpayer can do to lower their income taxes… …outside of contributing to a retirement account to defer taxes until a later date. Again, in the event of an audit, you don’t want to be all over the place.