Airbase

DECEMBER 5, 2023

This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. If you’ve ever returned from a business trip with a crumbled pile of receipts, you know that pain. Types of expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

Xero

APRIL 13, 2023

Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next. Don’t forget, the older versions of our reports will be retired on 31 July 2023.

general ledger 130

general ledger Start-ups Tax Sales 130

Snyder

MAY 10, 2022

Have you ever wanted your accounting to help not only with bank reconciliation, but also with learning about your customers and your business performance in general? Top performing products Learn more here Least performing products Learn more here Top refunded products Learn more here Products most purchased together Learn more here.

E-commerce 52

E-commerce Sales Account accountant 52

ThomsonReuters

APRIL 7, 2022

QUESTION: Our company’s qualified transportation plan allows employees to purchase transit passes with pre-tax compensation. Passes are distributed directly to employees; cash reimbursements are not allowed. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Contributing Editors: EBIA Staff.

Transportation 98

Transportation Tax Government Account 98

ThomsonReuters

MAY 5, 2022

Each year, tax time is an opportunity to expand your accounting firm’s client base. According to a 2021 study from the Thomson Reuters Institute, tax professionals are looking to return to a more normal working environment and a return to some of the strategic priorities they had in mind pre-pandemic.

accounting firms 96

accounting firms Tax Real Estate Account 96

ThomsonReuters

MAY 17, 2022

Some examples of personal income that aren’t subject to tax include: Money Venmoed from a friend to split a shared meal at a restaurant, Paypal money you received from friends when you purchased a block of tickets to a concert and they are reimbursing you for their ticket, or. Separate Personal Amounts from Gig Income Receipts.

Tax 105

Tax tax return income tax Start-ups 105

Xero

JULY 21, 2022

You know all too well how vital it is to collect approval signatures from clients on financial statements, tax returns, and other key documents to keep work flowing and meet deadlines. This fantastic new feature will be available to all our UK accounting and bookkeeping partners in October this year. Coming soon: Document packs.

bookkeeping 75

bookkeeping tax return Tax financial statements 75

Ronika Khanna CPA,CA

SEPTEMBER 1, 2023

As an accountant and financial consultant , I am often presented with the task of organizing and analysing data into a format that allows for greater insight into my clients businesses. You can refer to my article on whether you should use a spreadsheet or accounting software. See below for more details.

accounting software 70

accounting software accounting and finance tax return Start-ups 70

Acterys

JANUARY 31, 2023

In this blog, we cover some basics about inventory planning: what it is, why do you need it, and what are its benefits and challenges. This shows that the pandemic significantly impacted consumer behavior, market demand, and supply chain operations. Forecasting optimal inventory levels is a big part of inventory management. Let’s get started.

Manufacturing 130

Manufacturing Sales Maine Retail 130

ThomsonReuters

JUNE 29, 2022

For the IRS, employment tax records like the EIN and copies of tax returns filed should be kept for at least four years (specifically, the IRS says , “at least four years after filing the fourth quarter for the year”). According to the American Payroll Association (APA) website, core payroll concepts make up 24% of the exam.

payroll 97

payroll Tax tax return income tax 97

Withum

MAY 26, 2022

Having that longer timeline allows a period for temporary drops to recover. I also tell clients and readers of my blogs that if they like to trade stocks, buy or sell options or if they want to limit their investing to specific sectors or types of stocks, I am not someone they should retain or listen to. Earnings do.

Tax 105

Tax income tax Government tax return 105

Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Keep receipts and invoices then record the amounts spent in the accounts. Ownership of a limited company is by way of shares allocated to and purchased by shareholders. Here’s a few tips to get you started.

Start-ups 75

Start-ups Account accountant accounted 75

ThomsonReuters

MAY 12, 2022

A sales tax audit often occurs when a state tax agency suspects a business of understating its reported sales or when the sales tax return filed with the state doesn’t match what was reported to the Internal Revenue Service (IRS). What triggers a sales tax audit and how do you reduce the risk of an audit? What is a sales tax audit?

audit 105

audit Sales Tax auditor 105

Inform Accounting

APRIL 11, 2023

This blog aims to demystify which expenses are claimable, how you claim them, and how to calculate them. Company car costs If a car is owned by the company, then it is the responsibility of the company to pay for the servicing and maintenance of that car e.g. buying new tyres, paying road taxes, and purchasing insurance for the vehicle.

tax return 52

tax return Tax accounting software Government 52

ThomsonReuters

AUGUST 25, 2023

For professionals in the tax and accounting industry, there are multiple types of depreciation — namely, tax and book. This article will explore some of the differences and how accountants can better manage both book and tax depreciation. Jump to: What is book depreciation? What is tax depreciation? What is book depreciation?

Tax 52

Tax tax return accounting principles Account 52

Snyder

OCTOBER 31, 2022

How to add a blog to your Shopify store? On the other hand, you have fewer competitors and a more targeted audience with a higher purchasing intention. Whatever the reason, selling on Shopify may become your solution as it’s really easy and convenient. A guide to e-commerce business with Shopify: 1. How to customize a Shopify store?

E-commerce 97

E-commerce Start-ups Tax Sales 97

Xero

SEPTEMBER 21, 2022

After several years living outside Canada, she decided to return and learn more about the business from her father. After three years of mentorship, and with his encouragement, she purchased his two McDonald’s franchises in Milton. The move to cloud accounting. Support from her advisor.

bookkeeping 74

bookkeeping bookkeeping services accounting and finance accounting software 74

ThomsonReuters

MARCH 21, 2023

The rise of the value of CPA advisory services There’s a growing number of firms embracing niche or specialized accounting by learning not to give advisory services away for free but instead, seize new opportunities. .” A client comes in to drop off all their tax prep information and stops to ask you a “quick question.”

CPA 97

CPA Tax tax return accounting firms 97

ThomsonReuters

MARCH 17, 2021

The IRS has issued new Form 8915-E, which individual taxpayers must file with their income tax returns to report coronavirus-related distributions and other qualified 2020 disaster distributions received from retirement plans in 2020, as well as 2020 repayments of those distributions. Form 8915-E. Instructions. Form 8915-D. Instructions.

Construction 93

Construction Maine income tax Tax 93

Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Additionally, CRA has become much more sophisticated in identifying those who are earning more income that they are reporting via lifestyle audits, site visits and review of social media accounts. Accounting and Tax Considerations for Gig Workers As discussed, there is an administrative burden to being a self employed gig worker.

Tax 52

Tax E-commerce audit income tax 52

ThomsonReuters

JULY 10, 2023

It is typically a percentage of the purchase price and is added to the final cost of the product or service. There are 38 states that allow local governments to impose their own general sales taxes, in addition to the state general sales tax. Alaska This is especially true in today’s environment of ever-evolving sales tax regulations.

Sales 98

Sales Tax Michigan Washington 98

Accounting Insight

JANUARY 5, 2024

With this specific blog, we explain who collects VAT and what governments expect of businesses. As a tax authority, you levy Sales Tax on retail purchases of goods or services. That’s why we share plenty of knowledge on the topic, from an in-depth introduction to EU VAT to how VAT changes when trading between different EU countries.

audit 52

audit Tax Maine Government 52

Inform Accounting

OCTOBER 27, 2022

Hire an accountant First and foremost, we strongly recommend hiring an accountant. The Cycle2Work scheme allows you to pay for a bike (and any other necessary equipment) directly from your gross salary. Because it allows you to reduce your personal income! So don't try and go it alone! But how does it work?

Tax 52

Tax income tax Account accountant 52

Xero

MAY 16, 2022

Now, we turn to digital links , which have been mandatory for MTD for VAT compliance since April 2021 and play a vital role in connecting software packages and submitting MTD-compliant VAT returns to HMRC. This allows your returns to be filed digitally. What are digital links? Why do you need to use digital links for MTD?

Tax 67

Tax accounting software Government Sales 67

Withum

SEPTEMBER 14, 2022

Should any of these sound familiar, you may want to consider amending prior tax returns and changing your ways going forward. Classifying an individual as a subcontractor is a well-known method to avoid employment laws, allowing employers to save significant amounts of money not only in taxes but also in employee benefits.

Tax 105

Tax tax return audit Entertainment 105

ThomsonReuters

DECEMBER 19, 2023

These environmental tax breaks are designed to motivate individuals and businesses to adopt practices that contribute to a greener future. For accountants, understanding environmental tax credits and the associated IRS forms is crucial in optimizing clients’ tax strategies while encouraging eco-friendly investments and practices.

Tax 52

Tax income tax tax return Manufacturing 52

Inform Accounting

MAY 3, 2022

The nature of a gift is that it is something that is given without receiving a payment in return. Consequently, as nothing is received in return it would, at first sight, seem unlikely that making a gift could trigger a capital gains tax liability. She purchased the painting many years ago for £100. Gifts to a charity.

Tax 52

Tax tax planning tax return Government 52

ThomsonReuters

OCTOBER 20, 2022

In addition, the maximum adoption credit allowed to an individual for the adoption of a child will be $15,950 for 2023 (up from $14,890). This tax is imposed if a taxpayer’s advance premium tax credit payments for health insurance purchased through an Exchange for a year exceed the allowed credit. Health FSAs. Archer MSAs.

Transportation 97

Transportation Tax income tax Account 97

ThomsonReuters

NOVEMBER 11, 2021

In addition, the maximum adoption credit allowed to an individual for the adoption of a child will be $14,890 for 2022 (up from $14,440). This tax is imposed if a taxpayer’s advance premium tax credit payments for health insurance purchased through an Exchange for a year exceed the allowed credit. Health FSAs.

Transportation 98

Transportation Tax income tax Account 98

ThomsonReuters

NOVEMBER 2, 2021

Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. Read on for a guide to preparing and filing corporate income tax returns. Read on for a guide to preparing and filing corporate income tax returns.

tax return 59

tax return corporation tax income tax Tax 59

Ronika Khanna CPA,CA

APRIL 14, 2022

While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses. If you do have business income, then you are required to declare your business income on a tax return.

Tax 52

Tax tax return business tax accounting and finance 52

SchoolofBookkeeping

FEBRUARY 2, 2024

Advanced Inventory Tracking inventory Using QuickBooks Online For years the outcry from the accounting community has been “QBO doesn’t track inventory” and when QBO was first unveiled (circa 2000), that was 100% accurate. It’s a Pandora’s box that deserves a blog of its own, but needs to be mentioned.

quickbooks 52

quickbooks E-commerce Manufacturing Approval Workflows 52

ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

Ronika Khanna CPA,CA

FEBRUARY 10, 2023

The revenues and expenses are reported on a business declaration form , which forms part of the regular personal tax return or T1 (TP1 in Quebec) and is referred to as the T2125 - Statement of Business and Professional Activities. You are not required to enclose this with your tax return but will be asked for in case of audit.

tax return 52

tax return Tax accounting software business tax 52

Xero

JULY 31, 2022

Quotes and Purchase Orders reporting — Global. Based on customer feedback, we’ve now enabled Quotes and Purchase Orders to be added to the Receivable and Payable Invoice (Detail and Summary) reports from a checkbox within the ‘More’ button. New features. Make the switch to new reports — Global.

payroll 84

payroll accounting apps income tax quickbooks 84

Xero

SEPTEMBER 7, 2022

It’s so fantastic to bring Xerocon back to Sydney. Having the opportunity to meet and connect with partners from Australia, New Zealand and Asia has been really great – and we’re only just getting started! I’m looking forward to two full days of keynotes, breakouts and partner sessions – and, of course, the Xerocon wrap party at Luna Park! .

bookkeeping 97

bookkeeping payroll Start-ups Account 97

Acterys

FEBRUARY 22, 2023

In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business. FP&A teams are responsible for creating financial statements at the end of the accounting cycle. FP&A teams play a key role in ensuring the financial stability of a business.

financial statements 130

financial statements accounting and finance Sales Finance 130