LyfeAccounting

JANUARY 30, 2021

The next date/deadline is like our own recommendation that we made up to help businesses prepare. We recommend that by March 1, 2021, you have everything in place to actually file your taxes. The main thing you need to have is your bookkeeping done. This is because bookkeeping can take a lot of time to complete.

Tax 52

Tax tax return bookkeeping bookkeeping services 52

Xero

DECEMBER 20, 2022

HMRC has announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been delayed until April 2026. With small businesses, accountants and bookkeepers facing challenging times, we understand and support the delay from HMRC – giving you more time to prepare. .

Tax 15

Tax bookkeeping small business accounting income tax 15

LyfeAccounting

NOVEMBER 9, 2020

If your tax rate is 25%, then you would only pay $25,000.00 in taxes as a LLC. However, on the other hand, let’s say you’re a C Corporation. If you made $100,000 as a C Corporation, your business would be taxed on that income first. If the corporate tax rate is 20%, then you would pay $20,000 in taxes.

Tax 52

Tax CPA tax return accounting and finance 52

LyfeAccounting

NOVEMBER 4, 2020

C-corporations are required to pay corporate tax on the profits of the business. Currently, the corporate tax rate is 21%. Shareholders only pay tax if they receive dividends from the corporation which would be calculated on their individual tax return. Not to be confused with 1120S.

business tax 52

business tax Tax tax return payroll tax 52