MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Call us today at 1-877-788-2937.

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Going Concern

SEPTEMBER 22, 2023

Tax ERC abuse brings renewed push for regulation of paid tax preparers [ Journal of Accountancy ] buse of the employee retention credit (ERC) by aggressive promoters who make questionable promises has pushed Treasury to renew the call for the regulation of paid tax return preparers, an action that has the AICPA’s support.

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LyfeAccounting

FEBRUARY 9, 2021

As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received. Tax Benefits #3: Low Risk of Audit. Since 2010, S-Corp audits have dropped about 34%.

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LyfeAccounting

OCTOBER 21, 2020

But you want to make sure you’re doing things right , so you can avoid an audit. Let’s go ahead and look at some categories that are 100% tax deductible (meaning they deduct from your revenue, dollar for dollar). Tax Deductible Categories. So those are my major small business tax deductions that you must have.

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LyfeAccounting

APRIL 8, 2021

Now, we want to help you avoid an IRS audit! Although your chances of being audited in general are pretty low, there are certain IRS audit red flags that increase your odds dramatically. 8 IRS Audit Red Flags to Watch Out For. 8 IRS Audit Red Flags to Watch Out For. In 2019, the IRS audited 0.4%

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xendoo

JANUARY 26, 2023

January 31, 2023 What Happens if a Business Doesn’t File Taxes? All corporations must submit a corporate income tax return, even with no profits. LLCs who choose to be taxed as corporations are also responsible for filing a federal tax return.

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