Cherry Bekaert

MAY 23, 2023

Future Issue If an investor was interested in purchasing the business, it is likely that the unsatisfied sales tax obligations would be identified as part of due diligence, resulting in a potentially unfavorable adjustment to the business sale price. The Company agreed to attempt to mitigate the $1.2

Sales 98

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CPA Practice

JULY 27, 2023

Similarly, the same is true for Advisory, Audit, Wealth Management, Litigation Support, or any other areas where you routinely provide services. Here are some of them: Tax Preparation and Filing : This is often the most time-consuming task in an accounting firm, especially during the tax season.

Technology 98

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ThomsonReuters

MAY 6, 2021

Their focus is on taxpayers who omit cryptocurrency income from their tax returns. But this is just the most recent step in the increasing IRS focus on cryptocurrency tax, here’s a brief timeline on past activities: 2021 – Launch Operation Hidden Treasure. Unfortunately for them, that time is past.

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Nancy McClelland, LLC

FEBRUARY 13, 2022

The domestic partnership or S corporation has no knowledge that the partners or shareholders are requesting such information for tax year 2021. 4) If even one of the partners or shareholders plans to or is required to report foreign tax credits on Form 1116, Foreign Tax Credit , the Partnership or S-Corp must prepare Schedules K-2 and K-3.

tax preparation 52

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ThomsonReuters

NOVEMBER 16, 2023

For tax departments, complying with CTC regulations means transitioning away from the traditional, post-audit method of tax reporting, in which auditors collect, compile, and report transaction information in batches, long after the transactions have taken place.

Tax 59

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ThomsonReuters

JUNE 14, 2021

The IRS has posted a June 2021 draft version of the Form 941 , Employer’s Quarterly Federal Tax Return, instructions that take into account the amended and expanded coronavirus (COVID-19) pandemic tax credits and the new COBRA premium assistance credit from the American Rescue Plan Act (ARPA). Federal News.

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ThomsonReuters

FEBRUARY 8, 2022

One significant trend sweeping the tax profession is the rise of value-added services. Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need.

Tax 105

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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. Well, maybe the IRS won’t show up at your house. Professional services.

business tax 52

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ThomsonReuters

DECEMBER 17, 2021

“Countries would have to write new laws, adopt new tax treaty language, and repeal some policies that conflict with the new rules.”. International tax experts from KPMG, Orbitax, and Thomson Reuters noted this aggressive timetable during a recent webinar exploring the details of the Global Minimum Tax framework.

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Snyder

JANUARY 19, 2023

The general workload of the busy period includes getting the end-of-year info from clients, reconciliation, working with tax receipts, income reporting slips, preparing for tax returns, and more. The busiest season for any accounting and bookkeeping firm each year, of course, is the personal tax season – January to April.

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