ThomsonReuters

AUGUST 25, 2023

Jump to: Can you deduct vehicle depreciation on taxes? How do you calculate vehicle depreciation for taxes? How does Section 179 deduction work for vehicles? Managing vehicle tax depreciation with software Running a successful small business is hard work and expensive.

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Xero

MAY 10, 2022

But if your practice is anything like mine, the number of enquiries at EOFY – and subsequently, the time it takes to respond to all of them – skyrockets. Below is my roundup for FY22, featuring 10 questions you’re likely to come across in the lead up to tax time. Simply take what you need from this list to do what you do best. .

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LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. You overpaid your Uncle Sam. This post is for those who already have an LLC and for those who may be thinking about starting one.

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DuctTapeMarketing

JULY 24, 2018

Consulting Business. Small Business Finances. About Company. < All Articles. For small business owners, managing payroll can be a costly endeavor. And while the idea of handing over such an important task (not to mention all that sensitive information!) Is Outsourcing Right For You?

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payroll accounting and finance Start-ups Tax 142

Shay CPA

NOVEMBER 6, 2023

When you think about taxes, you probably directly associate the money that goes out to tax authorities with the money that’s come in. Take sales tax as an example. The more you sell, the more you’re going to pay. Income tax isn’t so different: the more you earn, the bigger your tax bill.

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Nancy McClelland, LLC

DECEMBER 28, 2022

As anyone who’s worked with me — clients, team members, colleagues, vendors — knows, I adore Gusto Payroll. They truly changed my life for the better (not to mention the lives of thousands of small business owners) when they decided to create a tech-forward payroll company that seamlessly syncs with QuickBooks Online.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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Cheap Accounting

SEPTEMBER 11, 2023

Making ends meet and paying all your bills on time is obviously a priority for most people at the moment. To help it’s worth reminding people about three tax free benefits that could be advantageous to the household coffers. There will be no tax to pay on the amount earned.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Understanding Deductible Business Expenses.

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LyfeAccounting

OCTOBER 21, 2020

In federal taxes you owe $78,435.72. Look, those were like your tax liabilities from last year. So I’d say, learn how to use small business tax deductions to lower your liability. Because you definitely don’t want to spend more in taxes for another year. You can’t avoid it.

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business tax Tax tax return Education 52

Ronika Khanna CPA,CA

FEBRUARY 10, 2023

One of the major ones is ensuring that you are aware of, and fulfill, your tax obligations on a timely basis. In the beginning these tax obligations can seem mystifying and somewhat overwhelming, but once you understand what needs to be done, the enigma surrounding the process dissipates and it tends to become routine.

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ThomsonReuters

SEPTEMBER 19, 2023

Jump to: Job security: AI is an enhancement, not a replacement Making AI work for you: Best practices for tax professionals A collaborative future with AI The dawn of artificial intelligence (AI) has sparked concerns across various industries about the potential replacement of human workers with machines.

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Snyder

NOVEMBER 10, 2022

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. You can start with something simple. What is tax software?

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LyfeAccounting

NOVEMBER 10, 2020

More than half of all businesses in the United States are now home based. And if you own a home-based small based business or thinking about starting one, I can see why. You get to skip the puzzle of getting to work on time. And best of all, you get to save on taxes. about… now.

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business tax Tax Entertainment accounting and finance 52

xendoo

DECEMBER 15, 2021

Whether they coach chess players or sell organic puppy food online, every small business owner shares a common driving force: a passion for growing their business. Consistent bookkeeping provides the financial insight needed to strategize for long-term success. Reliability in Your Opening Balance.

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LyfeAccounting

APRIL 23, 2021

So, you make some money. You got some expenses. ” But hold on, what if we told you, you can get it for free. And what if we told you the business tax code was actually set up for you to do so? In this post, let us show you how to write off your dream car, so keep reading.

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Nancy McClelland, LLC

DECEMBER 26, 2023

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. The most important point is that only businesses need to issue 1099s — if you paid someone for personal purposes, you are not (yet) required to send them or the IRS a Form 1099.

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Nancy McClelland, LLC

DECEMBER 26, 2023

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. The most important point is that only businesses need to issue 1099s — if you paid someone for personal purposes, you are not (yet) required to send them or the IRS a Form 1099.

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bookkeeping tax return Non-Profits Tax 52

LyfeAccounting

APRIL 28, 2021

So, the vehicle tax deduction can allow you to purchase your dream car, basically for free. Of course, you have to go about this in a very smart and legal way to successfully pull this off. Now we don’t know about you, but that sounds like a lot of pounds. What is Vehicle Tax Deduction?

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Ronika Khanna CPA,CA

DECEMBER 7, 2023

Also, if you have a request for a tutorial, please leave a comment on any of the videos or email me. A Google search for “ small business accounting software ” yields over 250 million results. With so many choices out there, it can be difficult to know what to do. If you use these links we may earn a commission.

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Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. 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.

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LyfeAccounting

NOVEMBER 16, 2020

That’s why in this post, I want to help you forget and forgive your PPP loan. Now obviously debt can be especially overwhelming for any person or small business. And most of us, want to get rid of that as soon as possible so that we can make good decisions about our financial future. Tax Deductibility.

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LyfeAccounting

APRIL 30, 2021

Today, we’ll be going over the top 5 write offs you could be taking for your LLC this year, next year, and the next year after that. All to save you the most on your taxes. Are you ready? Chances are if you’re reading this post, you have an LLC, or at least are thinking about starting one of your own.

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Shay CPA

MAY 3, 2023

As you wrapped up the 2022 books for your startup, you probably did some high-level financial review and analysis. Looking over key documents like your profit and loss statement, you get a better idea of what’s driving revenue — and where you’re spending. But you see that total and it can sting a little.

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payroll tax payroll Tax tax return 52

ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. 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. Every company in the U.S.

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tax return corporation tax income tax Tax 59

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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LyfeAccounting

MAY 18, 2021

Today, we’ll be going over the biggest mistakes that we see small business owners make. Mistakes that cost them time and you better believe, MONEY. Now, we completely understand that you’re reading this and maybe you’re a new business owner. 7 Tax Mistakes Business Owners Make.

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LyfeAccounting

JANUARY 31, 2021

?. If you are a business owner that does ANY work from home, and you’re NOT taking the home office deduction… then you’re probably paying more than you have to in taxes to the IRS. So if you want to keep doing that, then don’t read the rest of this post. What is the Home Office Deduction?

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LyfeAccounting

JUNE 4, 2021

Today’s post is all about how to pay yourself as an LLC. So now, we want to walk you through how we pay ourselves as LLC owners, and how we advise our clients to pay themselves through an LLC. So now, we want to walk you through how we pay ourselves as LLC owners, and how we advise our clients to pay themselves through an LLC.

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LyfeAccounting

JANUARY 30, 2021

?. Tax season 2021 is here! And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. Tax Season 2021: 6 Very Important Dates to Know. The main thing you need to have is your bookkeeping done.

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LyfeAccounting

JUNE 7, 2021

We have 10 tips on how you can avoid paying taxes. Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. But even then, taxes aren’t a big deal. Keep reading!

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LyfeAccounting

FEBRUARY 14, 2021

Today we’re talking about three letters: C-P-A. And who needs one? CPAs are trusted advisors that help businesses with all sorts of business matters, which ultimately have financial implications. In order to become licensed as a CPA, you must pass rigorous requirements. In one word – business.

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LyfeAccounting

APRIL 27, 2021

In one of our previous posts, we talked about the SEP IRA , which has some incredible tax benefits. Like being able to deduct up to $58,000 on your taxes and put that money in an investment vehicle to fund your retirement. Well, today’s post is all about the Solo 401K, which allows you to do the same exact thing and MORE!

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LyfeAccounting

JULY 16, 2021

We know a lot of you are waiting on tax refunds, stimulus checks, and even child tax credit payments. And this is related to the millions of people who were wrongfully taxed last year on their unemployment compensation. For this round, the IRS identified about 4.6 Unemployment Tax Refund Recap.

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inDinero Tax Tips

NOVEMBER 16, 2021

There are many tax benefits to installing solar panels, some of which will be well in excess of your tax liability. However, a small business cash flow doesn’t have to be an obstacle to going green. For small businesses looking to go solar, it makes sense to partner with a tax equity investor in solar.

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inDinero Tax Tips

NOVEMBER 16, 2021

There are many tax benefits to installing solar panels, some of which will be well in excess of your tax liability. However, a small business cash flow doesn’t have to be an obstacle to going green. For small businesses looking to go solar, it makes sense to partner with a tax equity investor in solar.

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ThomsonReuters

SEPTEMBER 7, 2023

Jump to: What is the child tax credit? Who qualifies for the child tax credit? How much is the child tax credit? What is the advance child tax credit? What is the difference between the child tax credit and the child and dependent care credit? Are there any recent changes with child tax credit legislation?

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