LyfeAccounting

MARCH 10, 2021

CPAs are individuals that passed the hardest professional exam in the world while meeting rigorous educational and experience requirements. So for example, if you’re self-employed and are applying for a loan, the lender might require you to see financial statements that are prepared by a CPA. What is a CPA? Tax Services .

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ThomsonReuters

FEBRUARY 8, 2022

Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need. While each of these areas involve tax strategy, they also require a more holistic approach to planning. 3) Boost your firm’s reputation.

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LyfeAccounting

FEBRUARY 14, 2021

In order to become licensed as a CPA, you must pass rigorous requirements. First, you have to meet educational requirements. Then lastly, you have to meet certain experience requirements. A CPA is required to do continuing education each year in order to keep their license status active. million taxpayers.

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ThomsonReuters

NOVEMBER 15, 2023

Appraisal requirements. For certain non-cash donations , such as property or assets other than cash, donors may be required to obtain a qualified appraisal to determine the value of the contribution. The IRS has specific guidelines for obtaining appraisals, and donors must adhere to these requirements to support their tax deductions.

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ThomsonReuters

JUNE 6, 2022

Private foundations file Form 990-PF , Return of Private Foundation. Along with the specific line items, the Form 990-PF instructions provide guidance as to the filing requirements, definitions, payment of taxes, penalties, and public inspection requirements. billion today. Form 990-PF and Form 990-PF Instructions.

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Snyder

DECEMBER 11, 2022

Such a form of communication is also an opportunity for a nonprofit organization to express their gratitude to their donors and provide them with the necessary documentation for claiming a tax deduction. Benefits for recipients (nonprofits): Legal requirements. Donation receipts are required by the IRS in certain situations.

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Going Concern

NOVEMBER 20, 2023

Additionally, the profession requires ongoing study and exams, flexible working patterns, and the pressure of delivering accurate and timely financial information. As a senior accountant, his primary responsibilities are professional tax preparation and auditing services for individuals, commercial clients, and nonprofit organizations.

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ThomsonReuters

FEBRUARY 10, 2021

Under the CARES Act, EIPs started to phase out at $75,000 of adjusted gross income (AGI) for single taxpayers and $150,000 for married taxpayers filing joint returns. Taxpayers married and filing jointly with a spouse without a Social Security number were not entitled to an EIP under the original CARES Act rules.

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ThomsonReuters

JULY 28, 2021

The Consolidated Appropriations Act 2021 (CAA, 2021) included the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) that authorizes additional funding to the program and extended the program until March 31, 2021. Second Draw PPP loan borrowers are required to demonstrate a 25% revenue reduction.

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AdviceForTaxpreparers

JULY 29, 2019

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. He created this blog to make Big 4, national, and local tax preparers lives easier. Required fields are marked * Comment Name *. No tax or accounting experience required. Accounting Jokes, Videos, Puns and Humor. by Bill Meador, CPA, JD.

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