xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Overall, LLCs have a more flexible structure, while S corps can save money on taxes in the long run.

Tax 52

Tax income tax Non-Profits tax return 52

xendoo

NOVEMBER 22, 2021

Every partnership owner faces the unique challenges of self-payment, tax filing, and maximizing their tax savings. Although they would rather focus on growing their business, taxes and payroll often take up too much of their valuable time. . How Do I Pay My Taxes as a Partnership Owner? No Double Taxation .

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MyIRSRelief

APRIL 3, 2023

Here are some ways an accountant can help small business owners: Bookkeeping and Accounting Services: An accountant can assist with bookkeeping and accounting tasks, such as recording transactions, reconciling accounts, and producing financial statements. Contact us today for all you tax and accounting needs.

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Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. What exactly are tax deductions?

Tax 98

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xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Overall, LLCs have a more flexible structure, while S corps can save money on taxes in the long run.

Tax 52

Tax income tax Non-Profits tax return 52

SkagitCountyTaxServices

DECEMBER 7, 2023

This is something we specialize in so be sure to get on our calendar to set up your EOY tax planning appointment: app.acuityscheduling.com/schedule.php?owner=19530343 owner=19530343 Making time to look at numbers before January 1 allows us to help you make last-minute adjustments so your tax return works in your favor.

payroll 75

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xendoo

NOVEMBER 19, 2020

Here’s how the owner’s salary and taxes are handled for a single-member LLC. Thus you would need to create a separate bank account; use a payroll system; and withhold, report, and submit payroll taxes. Paying Income Tax. The post How Do I Pay Myself and My Taxes as a Single-Member LLC?

Tax 52

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Pooley Accounting Services

AUGUST 5, 2021

So, what do you REALLY need to keep for taxes, and how long do you need to keep it? . 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. .

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ThomsonReuters

SEPTEMBER 7, 2023

Prepare for the future of accounting with Thomson Reuters Practice Forward® How to turn transactions into connections In today’s economic landscape, roles are constantly shifting and evolving to meet the demands of compliance frameworks, changes in tax laws , and the expectation of more data on demand.

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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?

Tax 59

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CPA Practice

APRIL 12, 2023

Relief that maybe your job as a tax and accounting professional might get marginally easier with added agents available to respond to your calls and responses on behalf of your clients? Or nonchalance, since tax representation isn’t an area that you are particularly interested in as a professional? Not anymore.

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xendoo

JULY 20, 2020

As a business owner, your salary is defined by the way your business is taxed. The fastest way to get these numbers is to download a payroll report through your payroll provider – this is if you have employees and/or pay yourself a salary). You can find this on your 2019 tax return, reported on your Schedule C-line 31.

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xendoo

SEPTEMBER 10, 2021

A small business accountant can provide guidance at every stage of your company’s development, and they can be invaluable when it comes to tax preparation, succession planning, and more. 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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SkagitCountyTaxServices

MAY 26, 2021

But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. (Of Of course, you have MANY more tax-savings opportunities as well.). Some of these penalties are straightforward and simple.

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Basis 365

APRIL 28, 2022

Choosing your entity type really crosses two disciplines, legal and tax. The tax side, which is closer to the accounting side, relates to selecting the appropriate business type that minimizes unintended tax liabilities. You really should review this periodically as laws and tax code do change. Sole Proprietorships 13.1%

income tax 52

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Reckon

JUNE 6, 2023

Reconcile your PAYG withholding payment summary report and payroll tax. Get on the phone with your advisor now Before the new financial year closes in, get in touch with your advisor, accountant, or bookkeeper. It includes a bonus tax deduction of 20% for assets that support electrification and energy efficiency. (So,

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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. If in the eyes of the tax code, your help is not an employee the nanny tax rules DO NOT apply. Who is covered?

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MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations. Get professional help by calling us at 1-877-78-TAXES [1-877-788-2937].

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CPA Practice

JANUARY 19, 2024

The Role of Accounting in CAS Donny Shimamoto, a CPA and founder of IntrapriseTechKnowlogies , was curious as to where client bookkeeping functions factored in. Where do you fit the tax side, and how do you interface with the tax team in your model of CAS,” Tallyfor founder Peter Wen asked.

accounting firms 78

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xendoo

APRIL 20, 2022

If you have a business with many employees, sales, and tax considerations, an app is ideal. As you may know, you’re required to file taxes each year. Come tax time, no one wants to sift through old receipts to account for each expense. . Moreover, up-to-date records ensure that you file tax returns accurately.

accounting and finance 119

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inDinero Tax Tips

JANUARY 16, 2024

Due dates for business taxes can change from year to year based on a variety of factors, including weekends and federal holidays. So, if you’re wondering when are taxes due in 2024, you’re asking the right question at the right time. They represent the filing deadline, the final day for submitting your business tax returns.

Tax 52

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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.

bookkeeping 52

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Snyder

DECEMBER 28, 2022

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. 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. What is a tax audit? Meeting a tax auditor is as frightening as meeting a ghost.

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xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. However, there are many types of business tax credits and the IRS has strict eligibility requirements.

business tax 52

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xendoo

JANUARY 16, 2023

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.

business tax 52

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MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

Tax 100

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xendoo

SEPTEMBER 28, 2021

If you want to make sure that you and your small business are ready for the 2021 tax season, then it is essential to remain well organized throughout the year. Lastly, you need to know about all of the various tax deadlines that might apply to your business throughout the year. Excise Tax. State Income Tax.

tax preparation 52

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SingleTrackAccounting

OCTOBER 6, 2020

An alarming amount of business owners are not taking advantage of a major federal tax saving filing status, s-corporation. You are probably overpaying your taxes. . The key feature that makes an s-corp different is the tax advantages it offers. An s-corp is a tax filing status with the IRS. . We’ll unpack this for you.

Tax 98

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Snyder

JANUARY 16, 2023

Accounting errors and mistakes in taxes. Clutch report states that 95% of small businesses are confident in the accuracy of their financial statements, and 30% of business owners also believe that they’re overpaying taxes. Whether an error results in underpaying or overpaying on taxes, your business experiences unnecessary losses.

Account 52

Account accountant accounted bookkeeping 52

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.

accounting basics 52

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LyfeAccounting

NOVEMBER 4, 2020

?. In today’s post, I’ll be going over everything you need to know about tax filings for your small business and how to stay out of trouble with the IRS. Similar to yourself as an individual, your small business has tax requirements that must be met in order to avoid unwanted penalties and interest from the IRS. Sound good?

business tax 52

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inDinero Accounting

JANUARY 9, 2023

With teams in different jurisdictions, there will be different tax and labor laws you will need to follow. Filing Taxes If you’ve been in business for any amount of time as a startup, you know that you don’t start out profitable. As a result, the first few years may see negative returns, and hence no income tax liability.

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Account accountant accounted accrual accounting 52

inDinero Accounting

JANUARY 9, 2023

With teams in different jurisdictions, there will be different tax and labor laws you will need to follow. Filing Taxes. 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.

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Account accountant accounted accrual accounting 52

inDinero Accounting

DECEMBER 22, 2021

Enterprise accounting software can have some complex capabilities – for example, it might integrate with a variety of business processes such as CRM, purchasing, or payroll – so it’s important to work with a trained professional for assistance. It also offers access to external apps through NetSuite Marketplace.

accounting software 52

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inDinero Accounting

DECEMBER 22, 2021

Enterprise accounting software can have some complex capabilities – for example, it might integrate with a variety of business processes such as CRM, purchasing, or payroll – so it’s important to work with a trained professional for assistance. Simplified tax filing. Accounting and Tax Solutions Guide From inDinero.

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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. Without any further ado, IRS-CI’s top ten cases of 2022: 10. government. He was also ordered to pay nearly $9.7

Tax 64

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LyfeAccounting

DECEMBER 28, 2020

Do you want to know how the rich get away with paying little to no taxes, while many others overpay on their taxes? Well here it is – Tax Credits and Tax Incentives! If you’re anything like me, I’m sure you’ve heard all of these stories about how Jeff Bezos or Donald Trump pays almost little to no taxes.

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