ThomsonReuters

MARCH 5, 2024

tax system, including provisions affecting both individuals and businesses. As these provisions approach their expiration date, it’s important for businesses to prepare accordingly. According to the IRS, this includes changes in deductions, expensing, tax credits, and other items that affect businesses and individuals.

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LyfeAccounting

MAY 21, 2021

Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of. And, specific accounting advice should come from your contact attorney or CPA. That’s right!

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LyfeAccounting

APRIL 30, 2021

In either case, you want to make sure you’re aware of the tax write offs (OR deductions) you can take to minimize your taxes or even maximize your tax refund. Home Office Deduction. If you have a dedicated room or space in your home that is strictly for business, you can take the home office deduction. mortgage interest.

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Ronika Khanna CPA,CA

FEBRUARY 10, 2023

This in turn reduces stress as tax deadlines approach and can result in significant potential tax savings as you keep track of all your tax deductions and avoid interest and penalties. What type of businesses are required to prepare a T2125? If not, CRA will often assess you for this amount.

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LyfeAccounting

APRIL 28, 2021

So, the vehicle tax deduction can allow you to purchase your dream car, basically for free. So we decided to do some research and look at some vehicles someone could buy that would qualify for the vehicle tax deduction. Before we dive into the list, let us quickly explain what the vehicle tax deduction is.

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Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: Are charitable donations tax deductible? What donations are tax deductible? Helping clients with charitable contribution deductions on their tax return Giving generously to causes we support not only enriches our communities, but it can also come with potential tax benefits. Itemized deductions. In the U.S.,

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LyfeAccounting

NOVEMBER 3, 2020

This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. As a CPA, I have recognized a common pattern amongst small businesses and self-employed individuals- they are paying way too much in taxes and are missing some of the BIGGEST tax write-offs. Now, let’s begin.

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ThomsonReuters

FEBRUARY 8, 2024

Managing an LLC As a business structure, the primary purpose of an LLC is to protect the owners’ personal assets from debt collection and lawsuits aimed at the LLC. However, LLCs also enjoy certain tax advantages that make them popular, especially for small business owners. How can an LLC reduce its taxes? How are LLCs taxed?

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