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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SUI Tax? The federal tax rate is a flat 6%.

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Decoding the Difference: Tax Planning vs. Advisory

CPA Practice

While chestnuts crackle and we gear up for the annual tax preparation season, it becomes clear that the winter holidays bring more than just festivities and time off; they also mark the beginning of the tax preparation party. Tax preparation has its spotlight, tax planning follows a rhythmic beat … and tax advisory ?

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How to Harness Case Studies in Your Marketing Efforts

CPA Practice

Take this fictional bookkeeping service for a flower shop client. Case Study : Blossoming Profits: How Our Bookkeeping Revitalized Bloom & Petal’s Finances! Challenge : Bloom & Petal, a local flower shop, struggled with disorganized financial records, causing inefficiencies and missed tax deductions.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years

Going Concern

These emerging industries have some unique accounting and reporting issues and tax issues. He said the misconceptions became readily apparent after he retired from KPMG and started teaching at Rowan University near his home in New Jersey. 1 podcast for accountants and bookkeepers. I’d love to hear more.

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10 Ways to Help Gen X Clients Prepare for Retirement

CPA Practice

Toss on the tax savings : Quantify for your client how increased pre-tax retirement contributions (401(k) and/or IRA) could decrease their overall tax liability. You can use a tool such as Intuit Tax Advisor to calculate the impact quickly and easily, and present it in an easy-to-understand format.

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Adventures in Research and Investigations

Withum

Little did I know the path my life would take, leading me to become licensed as a private detective in my home state of New Jersey and overseeing my own team dedicated solely to research and investigations. My career began in a supporting role for Morrison & Company, a 16-person forensics and valuation firm in northern New Jersey.