MyIRSRelief

AUGUST 1, 2023

However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Contact us for professional tax help today! However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

payroll tax 130

payroll tax Tax payroll audit 130

AdviceForTaxpreparers

SEPTEMBER 8, 2020

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time. My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. by Bill Meador, CPA, JD.

tax preparation 246

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ThomsonReuters

OCTOBER 19, 2023

This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings. According to a recent Small Business Administration report , 27,104,006 small businesses were termed “nonemployer firms” and had no employees.

Non-Profits 111

Non-Profits Tax accounting firms Account 111

TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. Why exemptions matter.

Sales 165

Sales Tax Connecticut Idaho 165

SMBAccountant

JUNE 21, 2023

In this blog post, we will explore the differences between these two essential financial statements. The income statement summarizes the following components: Revenue: This section outlines the total amount earned from the company's primary business operations, such as sales of goods or services.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

TaxConnex

APRIL 15, 2021

The United States has possibly the world’s most complex sales tax regime. This is because each state sets its own sales tax rules, and states often take widely varying approaches. On top of this, local area tax jurisdictions also have power over some aspects of taxation and can set different rules for their area.

Sales 131

Sales Tax 131

TaxConnex

SEPTEMBER 15, 2020

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side. Determine Nexus.

Sales 225

Sales Tax tax consultant cpa firm 225

Xero

AUGUST 29, 2023

This guest blog post was written by the team at financial management app, Expensify. Finding the right balance between automation and compliance in any business process can be challenging. Instead, small businesses should look for a compliance solution that makes it unnecessary for employees to tote around a pocket full of paper.

Approval Workflows 84

Approval Workflows general ledger audit Expense Management 84

Shay CPA

FEBRUARY 28, 2024

Don’t shoot the messenger: it’s time to do your taxes. Very few founders enjoy doing their taxes. If that sounds good, follow these steps to get your books ready for your 2024 tax filings. #1: You need to do your part, too, so make sure you’ve properly recorded any business expenses you made with your personal account.

Tax 52

Tax CPA bookkeeping tax preparation 52

Mark Lee

DECEMBER 12, 2023

My advice in this blog post about safeguarding your practice largely concerns only what I might call ‘simpler’ clients. I had thought this might not happen until MTD for income tax becomes a reality. I had thought this might not happen until MTD for income tax becomes a reality. But I have already started to see a change.

tax return 94

tax return Tax bookkeeping bookkeeping services 94

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

Tax 52

Tax income tax Manufacturing corporation tax 52

ThomsonReuters

NOVEMBER 15, 2023

Jump to: Which donations are tax deductible? Charitable contributions from IRAs How much of a donation is tax deductible? In addition to helping our communities, these donations can also lead to significant tax benefits. Which donations are tax deductible? Stock or securities donations.

Tax 94

Tax tax return tax planning income tax 94

Ronika Khanna CPA,CA

SEPTEMBER 28, 2023

When starting your new Canadian small business or launching into self employment, it is essential to determine whether you are required to register for GST/HST (and QST if you have a started a business in Quebec ). This can be a substantial benefit for businesses and freelancers.

quickbooks 98

quickbooks Tax Sales Healthcare 98

ThomsonReuters

DECEMBER 8, 2022

DCTC – Dependent Care Tax Credit. FITW -Federal Income Tax Withholding. FUTA – Federal Unemployment Tax Act. MCC – Merchant Category Code. RRTA – Railroad Retirement Tax Act. SLOB – Separate Line of Business. COB – Coordination of Benefits.

income tax 105

income tax Tax Account accountant 105

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. Income tax isn’t so different: the more you earn, the bigger your tax bill. Instead, there are three different tax bases. Unfortunately, no.

Tax 52

Tax New York Technology Manufacturing 52

ThomsonReuters

SEPTEMBER 30, 2022

The IRS has announced the special per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2022. Employees must still substantiate the time, place, and business purpose of their travel expenses.) Contributing Editors: EBIA Staff.

Expense Reimbursements 93

Expense Reimbursements Transportation Tax Account 93

Xero

JUNE 30, 2022

Our teams have been busy adding lots of value across our platform over the past month, including enhancements to Hubdoc, short-term cash flow, tax updates in the UK and more. This will ensure your short-term cash flow projection is as accurate as possible and will help you make informed decisions about your business.

general ledger 98

general ledger Non-Profits tax return Tax 98

ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Florida Sales Tax Holiday.

Rhode Island 105

Rhode Island Delaware Oklahoma Tax 105

Xero

OCTOBER 3, 2022

This includes new earnings categories in Xero Payroll to support Single Touch Payroll (STP) Phase 2 in Australia, as well as the launch of document packs in the UK to help advisors easily collate documents and get them electronically signed by clients. Use new earnings categories in Xero Payroll — Australia.

tax return 88

tax return payroll bookkeeping accounting apps 88

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are green taxes? How are environmental taxes calculated? Current ESG tax credits and initiatives What are the benefits of an ESG tax strategy? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. What are green taxes? In the U.S.,

Tax 52

Tax Account accountant accounted 52

Shay CPA

MARCH 6, 2024

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. It’s a key component in keeping things running, of course.

payroll tax 52

payroll tax payroll Tax tax return 52

AdviceForTaxpreparers

JULY 29, 2019

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. I put together this post to bring together any funny and entertaining accounting and tax videos, puns, jokes, pictures, etc. Sharing a laugh brings us all together (especially during any busy season). by Bill Meador, CPA, JD.

tax preparation 212

tax preparation Account accountant accounted 212

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. It is particularly useful, as mentioned above, for summarizing your accounting data by category that can then be entered on to the T2125.

accounting software 65

accounting software accounting and finance tax return Start-ups 65

Snyder

OCTOBER 31, 2022

In this article, we’ll answer all your questions so you can have a better picture of what it’s like — to start your own small business with Shopify. A guide to e-commerce business with Shopify: 1. How to start a Shopify business: setting a goal and choosing product ideas for your store. How to add a blog to your Shopify store?

E-commerce 97

E-commerce Start-ups Tax Sales 97

Xero

JUNE 21, 2023

For Graeme Tennick and his team that belief paid off, with the firm taking home the Small Firm of the Year award, the most hotly contested category of the programme. “We Through this process they have made it their job to understand the mental load that business owners bear and have gone the extra mile to support them.

Account 118

Account accountant accounted accounting and finance 118

PANALITIX

JULY 21, 2020

Distinguishing your Accounting Business. What makes your business stand out? Unique business approach? If you are competing on your ‘tax and compliance’ capabilities, it will be difficult to persuade prospects that you are different. Infographics, charts and other visual guides fit this category. Did you try them?

Account 130

Account accountant accounted accounting basics 130

Xero

JULY 20, 2022

Along with helping sole traders streamline the manual, time-consuming elements of online accounting while being self-employed, Xero Go will empower them with the tools they need to meet digital record keeping requirements as part of the upcoming overhaul of the UK tax system: Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). .

bookkeeping 104

bookkeeping accounting and finance bookkeeping services income tax 104

Xero

MARCH 16, 2023

Small businesses in the UK have shown tremendous resilience over the last few years. We know it can be hard to run a small business, even without all the global and economic uncertainties. Preparing your final pay run Before you reach your final pay run for this tax year, there are a few important tasks needed to get you there.

payroll 81

payroll Tax corporation tax Construction 81

Mark Lee

NOVEMBER 21, 2023

I have long encouraged accountants to think of 4 categories for their clients: A – These are your best (A grade) clients – whatever that means to you. These clients are ‘Ready AND COMMITTED’ to growing their business right now. Forever Doubtful Business Owners You will recognise a number of your clients who fit this description.

Account 94

Account accountant accounted Tax 94

Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Upwork or Fiverr Short term accommodations e.g. Airbnb Task based platforms e.g. taskrabbit or pet sitting services E-commere selling e.g. ebay, Amazon and affiliate programs Writing/Blogging which generates revenue either by selling articles to publications or via ads on their website Virtual assistants, online surveys, tutoring etc.

Tax 52

Tax E-commerce audit income tax 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.

tax return 52

tax return Tax accounting software business tax 52

ThomsonReuters

NOVEMBER 4, 2021

If your company is part of a group of related businesses, you will need to determine whether testing must be performed on the group as a whole. If the plan fails one or both tests, employees who are HCIs will be taxed on a portion of their plan benefits. appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Tax 97

Tax Account accountant accounted 97

Accounting Insight

JANUARY 5, 2024

Despite how common VAT is, the tax is difficult at the best of times to understand. Knowing who pays VAT – the buyer or the seller – is straightforward, though, if you take the time to learn about the tax or have help. With this specific blog, we explain who collects VAT and what governments expect of businesses.

audit 52

audit Tax Maine Government 52

ThomsonReuters

AUGUST 15, 2022

These employers must provide a count of their employees by job category and then by ethnicity, race, and gender. The data is referred to as Component 2 data and includes employee wage data from Box 1 of the Form W-2 (Wage and Tax Statement). This is called Component 1 data. EEO-1 Component 2 data. States and pay data reporting. .

Illinois 97

Illinois payroll California Government 97

Snyder

OCTOBER 27, 2022

When you’re an e-commerce business owner, setting up your online store with Etsy sounds like a great option for creating an additional revenue stream, with over 96 million active buyers across the world purchasing goods on the platform. This blog will teach you how to receive payments on Etsy , both including and apart from PayPal.

E-commerce 98

E-commerce accounting and finance Tax Sales 98

ThomsonReuters

JUNE 23, 2022

The associated User Guide notes that the target audience for the SRA Tool is small and medium healthcare providers—but observes that health plans and business associates must also conduct risk analyses and implement technical, physical, and administrative safeguards to protect electronic protected health information (PHI).

Healthcare 98

Healthcare Tax Technology Account 98

ThomsonReuters

JANUARY 26, 2023

Whether the work performed is an integral part of the employer’s business. Whether the worker uses specialized skills to perform the work and whether those skills contribute to business-like initiative. Lebowitz explained that a DOL determination would have “no direct impact on tax withholding.”

Legal 59

Legal California Tax New Jersey 59