Going Concern

SEPTEMBER 1, 2023

The professional and business service sector added 19,000 jobs, including 2,700 in accounting, tax preparation, bookkeeping and payroll services. Despite receiving the completed and accurate tax returns from the accounting firm, Patrick did not file them with the IRS. appeared first on Going Concern.

Account 111

Account accountant accounted audit 111

SingleTrackAccounting

FEBRUARY 7, 2020

Carrying health insurance is still mandatory under the Affordable Care Act and most small business owners can deduct health insurance related expenses for themselves and their employees on their business tax return. On her business tax return, she can deduct the entire $15,000. Let’s dive more into this. Win, win right?

Tax 75

Tax income tax tax return Colorado 75

SingleTrackAccounting

FEBRUARY 11, 2020

Self Employment tax on the entire amount on your 1099 …. on top of your regular income tax! Most self-employed people only find out about this nightmare situation after they file tax returns with 1099s and are then hit with the tax bill. YOU are paying the highest % of tax out there. When Should I convert.

Tax 75

Tax income tax Colorado payroll 75

SingleTrackAccounting

OCTOBER 6, 2020

Yes, you will need to pay social security & medicare taxes on your W-2 income, but by running some of your profits through Owner payroll, the entire remainder of your net income is saved from paying ANY self employment tax. Even better, the business can write off your salary and it’s portion of your payroll taxes.

Tax 98

Tax bookkeeping corporation tax Colorado 98