ThomsonReuters

SEPTEMBER 7, 2023

Clients are expecting much more than traditional bookkeeping, tax returns, and payroll services. Not only does this require more time spent responding to clients, but also the ability to quickly access the data and information required to respond to those inquiries.

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inDinero Tax Tips

JANUARY 16, 2024

Important Tax Deadlines for Businesses You should always keep in mind the importance of these dates. They represent the filing deadline, the final day for submitting your business tax returns. Missing these tax payment deadlines might result in penalties or interest charges. What Is a Tax Extension?

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xendoo

JULY 20, 2020

If you are self-employed, the fastest way to get your net profit is by getting catch-up bookkeeping done for 2019, including January and February of this year. By receiving catch-up bookkeeping services, your bookkeeper will provide you with an annual income statement that includes your net profit. Your 2019 net profit (max.

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xendoo

NOVEMBER 19, 2020

Thus you would need to create a separate bank account; use a payroll system; and withhold, report, and submit payroll taxes. An LLC, on the other hand, can be treated the same as a sole proprietorship — as long as you choose to be taxed that way, not as a corporation. A lot of hassle for just one person, right?

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xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

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Basis 365

OCTOBER 26, 2022

You can make Basis 365 a part of your company and have your bookkeeping team import transactions, categorizes expenses, generate reports, and reviews your information to ensure it meets IRS standards. Who is eligible to claim the R&D tax credit Any business that spends money while developing new products or processes on U.S.

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xendoo

NOVEMBER 22, 2021

They will provide the financial insight needed to make the most informed decision regarding self-payment in your partnership! . How Do I Pay My Taxes as a Partnership Owner? Partnerships file their taxes using Form 1065, which determines that each partner is reporting their income correctly. Xendoo is Here for You.

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xendoo

AUGUST 2, 2023

Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions.

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Snyder

DECEMBER 28, 2022

percent of small businesses are getting tax audited. What’s interesting is that the less income you have, the higher the chance of a tax audit. This might be explained by the fact that lots of these taxpayers file for a tax return and claim the earned income tax credit ranging from from $560 to $6,935 in the tax year 2022.

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Pooley Accounting Services

AUGUST 5, 2021

The purpose of keeping documents for taxes is to prove your income, expenses, etc. were what you claim on your tax return. Failure to provide documentation can cost you deductions or cause you to pay penalties or additional taxes. . Cash and credit deposit information. A Word About Employment Taxes.

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xendoo

AUGUST 2, 2023

Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions.

Tax 52

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xendoo

SEPTEMBER 10, 2021

You’ll need to partner with an online accountant who has clear experience in preparing tax returns and financial documents for companies that have a similar profile to yours. . This is especially important during tax season, where errors can lead to an audit and potentially result in penalties and fines. . Tax planning.

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xendoo

SEPTEMBER 28, 2021

In order to help, the team at Xendoo has created this guide to tax prep for small businesses. Our goal is to make sure that you have the tools you need to appropriately file your tax return this year. Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021.

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Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. From 2012 to April 2018, according to the criminal information document signed by U.S.

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Shay CPA

DECEMBER 2, 2022

Founders – check out our tips below that can save your Startup thousands of dollars in Income Taxes, Payroll Taxes, Sales Taxes, and foreign taxes. . R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits?

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CPA Practice

JANUARY 19, 2024

Defining CAS Sona Akmakjian, CPA, Avalara ’s global head of strategic accounting partnerships, opened the Accounting Meta Influencers session and welcomed the moderator, Geni Whitehouse, a CPA, consultant and current president of the Information Technology Alliance (ITA). Whether that’s tax advisory, or business advisory.

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xendoo

JANUARY 30, 2023

You must also provide information about newly-hired employees on Form 8850 within 28 days of the hire. Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. You must also include information about your R&D activities and expenses. 3.

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Basis 365

APRIL 28, 2022

You really should review this periodically as laws and tax code do change. The Statistics Surrounding Business Types Your business type determines more than just what business tax return you will file. A separate tax return is required to be filed as a partnership is a separate legal entity from the partners.

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Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Burnell did not report any of the money he received from victims in 2011 or 2012 on his income tax returns.

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LyfeAccounting

NOVEMBER 4, 2020

Form Schedule C is not actually a separate business tax return. Instead, it is a form that is attached to your personal tax return. The reason why it has the same due date as personal tax returns, April 15th. In addition, there would be an approximate 15% self-employment tax due on your business profits.

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Steve Feinberg

JULY 2, 2021

Don’t get caught by the nanny tax. This often overlooked bookkeeping and payroll tax requirement can cause a tangle of tax problems if not handled correctly. Nanny tax explained. Determine the payment method and make tax payments. File household employment tax form with your annual tax return.

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Snyder

JUNE 20, 2022

Go through business bookkeeping basics. Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making.

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Snyder

FEBRUARY 7, 2023

However, many SMB owners still remain unaware of them, as the IRS isn’t obliged to inform SMBs about possible tax breaks. Below you’ll find a list of tax deductions that can apply to SMBs. All you need is to determine the taxable profit during the tax year and report it on your personal 1040 form.

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SkagitCountyTaxServices

MAY 26, 2021

There’s lots in here… Steve Padgett’s Three Business Tax Penalties To Avoid When Possible “Tell me and I forget. Your Skagit County business may have a variety of tax return filing requirements. That’s a big check to write to the IRS for a tax return that normally doesn’t have any taxes due!

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Snyder

JANUARY 16, 2023

Whether an error results in underpaying or overpaying on taxes, your business experiences unnecessary losses. But there’s definitely a potential for improvement, as filing taxes and getting tax returns can be streamlined with the right accounting software and professional help from experienced accountants.

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inDinero Accounting

DECEMBER 22, 2021

Credit: Austin Distel Keeping your finger on the pulse of your company’s finances is crucial to making informed spending decisions. With reliable enterprise accounting software, businesses can have up-to-date information about their finances in real-time.

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inDinero Accounting

DECEMBER 22, 2021

Keeping your finger on the pulse of your company’s finances is crucial to making informed spending decisions. With reliable enterprise accounting software, businesses can have up-to-date information about their finances in real-time. Gusto offers a powerful, all-in-one HR resource to help you manage hiring, payroll, and taxes.

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inDinero Accounting

JANUARY 9, 2023

With this information, your accountant can also dig down a little deeper into your operations with unit economics. As a result, the first few years may see negative returns, and hence no income tax liability. However, this doesn’t mean you shouldn’t concern yourself with taxes.

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inDinero Accounting

JANUARY 9, 2023

With this information, your accountant can also dig down a little deeper into your operations with unit economics. As a result, the first few years may see negative returns, and hence no income tax liability. However, this doesn’t mean you shouldn’t concern yourself with taxes. Deferred Tax Credits. Administration.

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Account accountant accounted accrual accounting 52

Steve Feinberg

OCTOBER 31, 2022

And while a good landscaper needs to know their tools, clients, and capabilities, running a profitable business requires detailed bookkeeping—a role that not every business owner might feel comfortable stepping into. Let’s take a look at why bookkeeping for landscape business is so important and what owners can do to keep the books balanced.

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LyfeAccounting

DECEMBER 28, 2020

By the way, the information in this post is solely for informational purposes only. If you need specific accounting or tax advice , then be sure to contact one of our CPAs directly. And I really want you to understand this so that’s why I am dedicating the rest of this post to Tax Credits. But WHY does this exist?

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MyIRSRelief

NOVEMBER 19, 2021

The IRS has put up a wealth of information to assist you determine whether or not you qualify for this childcare tax credit, including criteria, flowcharts, and questions. You may get up to a 40% refund with your tax return if your credit is greater than the total taxes you owe. Small-business tax credits.

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