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5 Ways Firms Can Support Entrepreneurs in 2024

CPA Practice

The primary focus for small business owners in 2024 is generating more revenue, with many small businesses wanting to add to their payrolls. SMBs said they’re relying on credit cards as funding sources, while entrepreneurial hopefuls said even a bigger tax return could help them secure the funds they need to start their businesses.

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Unpacking the Tax Credit Hype: Which Employers Qualify for the Employee Retention Credit?

CTP

Swarms of “ERC mills” have been making grand promises to taxpayers—but they provide very few details on how to ensure you actually qualify for this lucrative tax credit. So what do employers need to know about this tax credit? Tax-Exempt Organizations. What if your organization is tax-exempt?

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Marketing for accounting firms: individuals vs. small businesses

ThomsonReuters

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. To stay up to date on industry news and developments, feel free to sign up for our daily tax and accounting newsletter or explore our continuing professional education for CPAs with Checkpoint Learning.

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6 ways you can reduce your children’s taxes and get out of debt with the money saved

CTP

Taxes can be stressful. Fortunately, various tax reduction techniques are available to help families with children lower your taxable liability. Consider some of the six strategies listed below if you want to reduce your children’s taxes. Take advantage of the Dependent Care Tax Credit. written by Lyle Solomon.

Tax 52
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The Accounting Technology Lab Podcast: The End of QuickBooks Desktop – Mar. 2024

CPA Practice

So, desktop Pro Plus Premier Plus Mac Plus desktop enhanced payroll will all be closed to new customers starting July 31. Now, it turns out that into it at the beginning of 2024, increase their fees for their QuickBooks, desktop payroll, you know, $4, and so forth. So they’re more about b2c than they are about b2b.

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Fundbox Pay Expands To B2B Marketplaces

PYMNTS

In terms of payments technology and alternative lending, B2C and B2B may be respectively seen as digital versions of the hare and tortoise. For those firms seeking access to credit, lenders will often start with the SMB principal’s FICO score or tax returns from the past few years, which can be an inefficient barometer of credit risk.

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Section 174 and R&E – Uncertainty and Questions

CTP

The implications of recent changes to section 174 and no movement from Congress have left many business owners unsure of how to move forward with R&E (Research & Experimentation) expenses for the 2022 tax year and beyond. It waives the requirement for businesses to fill out Form 3115 for the first tax year.