ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Let’s take a look at some commonly asked questions on retirement income taxes and how your firm can best advise clients as they approach their retirement years.

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Shay CPA

FEBRUARY 15, 2023

Even as you vision-cast for the year ahead, you need to wrap up the year behind you. 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 2022 tax filings. #1: Amazon, Staples) Payroll (e.g.,

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LyfeAccounting

JUNE 11, 2021

Well, it’s a thing because by paying yourself a very low salary in an S-Corporation, you are effectively lowering the amount of taxes you pay. And then, on the backend, you can pay yourself with distribution and not pay self-employment taxes because S-Corporations don’t have to pay them anyway. An S-Corporation is a tax entity.

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ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. Which is better, a C corp or S corp or LLC?

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Snyder

JUNE 20, 2022

So for a small business owner, it’s vital to understand accounting so they can understand their business and also be able to communicate with banks and investors. Get to know small business tax obligations and procedures. So you’ve started a small business and need to go on setting up your accounting system.

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ThomsonReuters

APRIL 18, 2023

The cash flow statement provides business owners, as well as investors, a better understanding of how the company generates cash and meets its financial obligations. The net cash from all three of these sections is then added up to determine the net increase or decrease in cash during the period.

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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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Snyder

JANUARY 8, 2023

For example, if you need to hire employees, then payroll and payroll tax expenses will add up, and so on. Some additional expenses your dropshipping business will incur: Dropshipping fees; E-commerce platforms fees; Sales taxes; Domain; Marketing campaigns. Start a blog. How does dropshipping business work?

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LyfeAccounting

JULY 12, 2021

It was recently determined that nearly 30% of Americans are self-employed, and 100% of the self-employed hate paying taxes. So our goal for this post is to demystify the 70,000-page tax code for the self-employed into a simple post that will help you understand what self-employment tax is. What are Self-employment Taxes?

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LyfeAccounting

JANUARY 19, 2021

That’s why in this post, I want to make sure everyone understands what they need to know about getting approved for the new PPP Loan. And you heard of others giving back PPP loan money because they ended up not needing it. The PPP loan is for payroll and other qualified expenses. Feds recently seize $8.4 That is not the case.

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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. Understand your document packs usage — Global.

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