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.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs).

corporation tax 52

corporation tax Tax tax return income tax 52

ThomsonReuters

MAY 19, 2022

QUESTION: We understand there is a small employer exception to COBRA for employers with fewer than 20 employees. What employees should we count for purposes of this exception? Only common-law employees are counted as “employees” for purposes of COBRA’s small employer exception. Count Only Common-Law Employees.

payroll 98

payroll Tax Account accountant 98

Cheap Accounting

AUGUST 31, 2023

Entering the world of self employment and being your own boss is extremely exciting. Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Sole Trader By far the simplest of structures is that of a sole trader; a self-employed person working on their own.

Start-ups 75

Start-ups Account accountant accounted 75

ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? What is a C corporation? What is an S corporation? What is an LLC? Many entrepreneurs wonder what types of business ownerships are possible and how to determine which one is right for their business. What are the main types of business ownership?

income tax 75

income tax Tax Legal tax return 75

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.

payroll 52

payroll payroll tax income tax quickbooks 52

Xero

JULY 20, 2022

In addition to managing cash flow and getting paid on time, small businesses will need to comply with government legislation Making Tax Digital (MTD) which impacts over four million businesses across the UK. Not only that, we also unveiled new updates to our Xero Payroll integration with Planday. . Adapt to the changing world of work.

bookkeeping 70

bookkeeping payroll income tax accounting software 70

xendoo

AUGUST 24, 2021

Payroll , however, is most likely not their passion. How do taxes factor in? Self-Payment, Simplified. Tax filing is simplified too! In this blog post, we will walk you through paying yourself as a sole proprietor! . They may be changing the world and even their own lives. How much do you pay yourself?

Tax 95

Tax bookkeeping tax return bookkeeping services 95

Xero

MAY 13, 2022

Making Tax Digital for Income Tax Self Assessment ( MTD for ITSA ) requires that landlords earning more than £10,000 use MTD-compatible software to keep records and make submissions to HMRC. This guide looks at what MTD for ITSA means in practice for landlords. . Here’s what that looks like in practical terms: .

Tax 54

Tax income tax corporation tax accounting software 54

LyfeAccounting

JUNE 11, 2021

But what in the world is a reasonable salary? 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. What is an S-Corporation? Let’s start by telling you what it is not. An S-Corporation is a tax entity.

Non-Profits 52

Non-Profits payroll Tax payroll tax 52

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. We, the founders of LYFE, have been self-employed since 2011 and had to learn many of these things on our own. As well as how to calculate your self-employment taxes, and how to pay them.

Tax 52

Tax income tax payroll tax tax return 52

Inform Accounting

SEPTEMBER 23, 2022

The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. In this blog, we take a look at the key highlights from his speech. The highlights are below: Income Tax and National Insurance. Cost of Energy.

income tax 52

income tax corporation tax Tax Government 52

LyfeAccounting

MARCH 5, 2021

?. Which business entity is going to save you the most money on your taxes? Now, your tax expense can greatly vary based on the entity you select here. So by the end of this post, we hope that you’re saving thousands and not paying thousands more than you have to in taxes. Legal vs Tax Entity. So, you’re taxed twice.

Tax 52

Tax Legal tax return Non-Profits 52

LyfeAccounting

JUNE 4, 2021

If you pay yourself too little, you might be overwhelmed by all of the taxes you owe as an LLC. And speaking of taxes, how exactly does that work when you pay yourself? And speaking of taxes, how exactly does that work when you pay yourself? Should it be deducted from your paycheck, paid quarterly at tax time, or what?

CPA 52

CPA income tax Tax accounting and finance 52

LyfeAccounting

NOVEMBER 4, 2020

In today’s post, I’ll be going over everything you need to know about tax filings for your small business and how to stay out of trouble with the IRS. Similar to yourself as an individual, your small business has tax requirements that must be met in order to avoid unwanted penalties and interest from the IRS. Sound good?

business tax 52

business tax Tax tax return payroll tax 52

Xero

JULY 21, 2022

What an incredible couple of days it’s been at Xerocon London, kicking off the product update with the launch of our exciting new product for sole traders, and watching as our teams share the latest tools and features in Xero. And that’s a wrap! Preparing your clients for MTD for ITSA. Preparing your clients for MTD for ITSA.

bookkeeping 67

bookkeeping Start-ups Tax payroll 67

Ryan Lazanis

SEPTEMBER 1, 2023

1) QuickBooks Online A true juggernaut in the small business accounting software space, QuickBooks Online is widely known across firms and self-employed business owners alike as one of the best accounting software products. With 100’s of 3rd party apps integrations as well, automation is what they’re about. 4) Kashoo I like simple.

accounting software 98

accounting software quickbooks Account accountant 98

LyfeAccounting

FEBRUARY 4, 2021

Now, what has changed? Perhaps the most important part of the December 2020 stimulus surrounds the ability to deduct the expenses that the PPP loan was used to cover for federal tax purposes. This is a big deal for your business and will potentially save you a lot of money at tax time. For loans of $50,000 or less.

payroll 52

payroll Tax small business accounting accounting and finance 52

LyfeAccounting

JULY 20, 2021

You see, everyone talks about getting an LLC but not many people talk about what to do after you start an LLC. And this is kind of scary if you don’t know what to do. So in this post, we’re going to tell you what to do after you start an LLC. What to Do After You Start an LLC. We wish it was that easy, right?

income tax 52

income tax payroll tax accounting and finance Tax 52

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.

Tax 52

Tax tax return business tax accounting and finance 52

LyfeAccounting

NOVEMBER 25, 2020

So we’re going to immediately assume that you know what the PPP or the Paycheck Protection Program is and you already have a loan. And that is exactly what I’m going to cover in this post. After that you’ll get into some more questions such as: What is your payroll schedule? Along with any phone numbers.

payroll 52

payroll accounting and finance cpas bookkeeping 52

Snyder

JUNE 20, 2022

What is small business accounting? Get to know small business tax obligations and procedures. What is small business accounting? What is small business accounting? Let’s start with defining what small business accounting is. Accounting is the language of numbers. Contents: 1. Open a business bank account.

accounting basics 52

accounting basics general ledger Account accountant 52

LyfeAccounting

NOVEMBER 2, 2020

This is because selecting between these two options will determine your tax outcomes for both you and your employees. Because if we’re being honest, your payroll is the number one reason why people would even consider working with you. Okay, so here’s what we’re going to cover. #1 What is a 1099 Worker? Things get real.

payroll tax 52

payroll tax Tax Legal payroll 52

ThomsonReuters

JANUARY 9, 2024

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? But what does that mean for your taxes? How are C corporations taxed?

corporation tax 52

corporation tax Tax income tax Non-Profits 52

MazumaBusinessAccounting

AUGUST 12, 2021

In this blog, we will review 5 different types of business entities along with their advantages and disadvantages so you can decide which works best for your business. When it comes to your business taxes, filing is quick and easy. You can file your business taxes with your personal taxes using a Schedule C form.

tax return 98

tax return Tax Legal business tax 98

ThomsonReuters

DECEMBER 3, 2020

The IRS has issued a draft of the 2021 version of Publication 15 ((Circular E), Employer’s Tax Guide). 116-127) requires certain employers to provide paid leave to workers who are unable to work or telework due to circumstances related to COVID-19 (Qualified Paid Leave). Background. Publication 15.

income tax 78

income tax Tax payroll tax payroll 78

ThomsonReuters

DECEMBER 20, 2022

Next year’s notable wage base increase is significantly greater than the wage base forecast by the SSA’s Office of Chief Actuary in June 2022 and means that many employers will pay up to $818.40 more in payroll taxes in 2023. What is Social Security tax? . Payroll is expensive for a business. .

Legal 59

Legal payroll payroll tax income tax 59