Xero

MAY 13, 2024

To help you get you through from start to finish, we’ve included some handy steps to guide you through the process. In Xero Payroll, all active and terminated employees (who will be included in the STP finalisation for the financial year) will need an employment type, income type, and tax scale defined in their records.

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ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning.

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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. AT THE IRS “Why are we paying so much tax?” A tax table is the place to negotiate with the IRS.

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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.

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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.

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Going Concern

MAY 3, 2024

That PwC Thing Senate caravan not moving on from PwC [ The Mandarin ] Accounting firm PwC Australia has still a lot of work to do before it can move on from the tax leaks scandal, according to two members of a Senate committee looking into government procurement.

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ThomsonReuters

JUNE 29, 2022

Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. Records on which wage computations are based should be retained for two years.

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Xero

JUNE 7, 2022

It’s no secret that end of financial year (EOFY) comes with its challenges for many self-employed Australians. Whether you’re a sole trader, side-hustler or freelancer, understanding deductions to super and taxes – on top of running your own show – is enough to make anyone’s head spin. Don’t forget to tax plan .

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ThomsonReuters

JULY 11, 2023

That relationship was shifted into higher gear by the onset of the COVID-19 pandemic as many companies turned to their tax and accounting professionals to help keep their businesses afloat. Firms have various situations when working with clients, such as tax planning, tax preparation, or risk management.

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Xero

NOVEMBER 11, 2022

From April 2024, self-employed people and landlords earning over £10,000 annually, will need to follow Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) rules. . You’ll gain access to an on-demand webinar, an in-depth guide and a bespoke one-to-one consultation with an MTD expert. One End of Period Statement .

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ThomsonReuters

APRIL 25, 2023

over the last year, which was the smallest increase since the period ending May 2021. Other regions are only measured twice a year or annually. “We do expect inflation to ease or slow down this year,” Nash-Stacey noted. tax on workers’ wages earned each year up to that year’s wage base.

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Shay CPA

JANUARY 17, 2024

It’s that time of year again. The beginning of a new calendar year means every business owner needs to put some thought into tax filings. Beyond filing for your own company, you also have fast-approaching responsibilities pertaining to your employee’s taxes and their ability to file.

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ThomsonReuters

JULY 6, 2023

accountants and auditors have left their jobs in the past two years, a 17% decline. There are several different areas of advisory to investigate, such as tax advisory , business advisory , M&A advisory , and accounting advisory. Why are so many accountants quitting? According to The Wall Street Journal , more than 300,000 U.S.

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ThomsonReuters

JUNE 29, 2022

APA’s Congress was one of the year’s highest attended payroll conferences with nearly 100 workshops and almost as many vendors spending five days in the desert to talk about a variety of payroll topics and network with other payroll professionals. We’re not going through year-end alone (hopefully!).

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ThomsonReuters

JULY 1, 2022

Payroll Guide ¶18,022 contains a DOL table that can be used to compute overtime on different types of pay that includes commissions. A gross-up is an additional amount of money added to a payment to cover the income taxes the recipient will owe on the payment. The answer is “d. commissions.” ” The U.S.

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ThomsonReuters

APRIL 18, 2024

While the remote work arrangement has decreased since the end of the COVID-19 pandemic, employers are showing a preference for the hybrid arrangement. Challenges presented by the hybrid worker for human resources and payroll With over 30 years of experience in state and local tax laws, Lynn A. This may pose significant issues.

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ThomsonReuters

NOVEMBER 8, 2022

The answer lies in implementing an end-to-end tax workflow automation solution backed by an integrated technology ecosystem. With strong documentation, you can formulate a plan, gain approval, and implement/augment technology to streamline your accounting processes. . Standardize your tax workflow. The result?

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Nancy McClelland, LLC

MAY 6, 2024

Tax season is over. Take a deep breath – whether you’re a bookkeeper or tax preparer, you’ve endured plenty of stress these past months, and now you’re in the perfect space between vacation and conference season to look back and figure out how to make it go better next year. We even vote clients “off the island” together.

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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).

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. But, any mid-year regulatory changes will not be included in the exam. Department of Labor regulations, record retention, federal payroll tax forms, payroll systems, and accounting. Next testing period .

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Menzies

FEBRUARY 3, 2023

If you’re coming to the end of your first six and are self-employed, the following tips on how to set up as a self-employed barrister may be of use. You’ll need to register with HMRC as self-employed for self-assessment by the end of the October following your first year of trading. How to check your self-employment status.

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Ryan Lazanis

APRIL 4, 2022

Great news, because this step-by-step guide will cover the critical 7 steps you’ll need to follow to set up a modern bookkeeping practice and to land your first clients. In fact, these are the very steps that I followed to help take my heavily bookkeeping-focused accounting business from scratch to sale in only 5 years.

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ThomsonReuters

JULY 6, 2023

In today’s ultra-competitive business landscape, being an accountant means far more than preparing tax returns or compiling financial statements. Instead, they can shift their focus to more value-added activities like providing financial insights and helping clients navigate the complexities of tax law.

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Ronika Khanna CPA,CA

JUNE 30, 2023

I have addressed some of them in my blog posts on the factors to consider when choosing salary or dividends and the types of ways to structure your remuneration. At the end of the year T4s (RL1s in Quebec) have to be prepared and submitted to CRA (and RQ). The amount is then reported as dividend income on your tax return.

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ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. Form 941 is a tax report due on a quarterly basis.

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ThomsonReuters

MARCH 9, 2023

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Breeze through tax season easily with our comprehensive year-end tax season toolkit.

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ThomsonReuters

MARCH 6, 2024

So, what are users searching for this tax season? According to our most recent analysis, some of the most searched terms within Checkpoint Edge are tax credits, Employee Retention Credit (ERC) , and the Inflation Reduction Act (IRA). It should be noted that planned changes are coming in June of 2024.)

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DuctTapeMarketing

JULY 31, 2018

Guides Local Marketing. Marketing Strategy Plan. Since the software is built with non-accountants in mind, there are also often a plethora of help guides and videos available for you to consume at your leisure. Simplifies taxes. The dreaded “t” word: taxes. Marketing Training for your team. Paid Search.

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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.

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ThomsonReuters

OCTOBER 31, 2023

While 51% of accounting professionals believe that ChatGPT and generative AI should be applied to tax, accounting, and audit work, opinions are divided about the usefulness of AI tools. One of the primary concerns centers on how AI will affect accounting jobs and the career outlook for tax professionals. Can AI do accounting?

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ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Preparing tax returns. According to Pilar Garcia, CPA , Tax and Accounting Executive Editor for Thomson Reuters, “AI, especially generative AI, can propel the accounting profession forward like no other technological advancement since Excel.

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ThomsonReuters

AUGUST 22, 2023

company expanding its footprint to a global scale should keep in mind the differences in the tax code when looking to hire employees abroad, as well as accommodate for the many cultural or labor norms in different countries. businesses are losing $1 trillion every year due to voluntary turnover. Many considerations when going global.

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Ryan Lazanis

APRIL 10, 2022

In this guide, I’m going to outline what the future of accounting looks like for accounting firms and how to best prepare for it in 2022. This guide will cover trends that are happening at this very moment and specific strategies that you can use right now to better prepare you and your firm for the future. Let’s go.

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ThomsonReuters

JANUARY 12, 2023

For those of us in the tax and accounting profession, we’ve witnessed the amazing time savings and efficiency automation can bring—and audit is no exception. . With the rise of accounting automation , tax inputs and workflow processes are streamlined and standardized, resulting in more accurate results in less time.

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Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

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LyfeAccounting

DECEMBER 31, 2020

Or have plans on doing so? Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. And have noticed that taxes were withheld from their paychecks.

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ThomsonReuters

SEPTEMBER 1, 2022

Imagine this: An advisory-focused conference built by advisory experts that helps tax and accounting practitioners capitalize on the success of their business. “And And the topics of conversations were wide-ranging and meaningful to today’s tax and accounting firms. “ Connecting beginners and old pros. Managing a hybrid office.

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