CPA Practice

JUNE 28, 2023

Benjamin Franklin famously wrote, “[I]n this world nothing is certain but death and taxes.” The governing legal obligations and restrictions may vary from case to case depending on the practitioner’s status as an attorney, CPA, or enrolled agent and where the practitioner conducted their practice.

Tax 98

Tax Legal accounting and finance cpas 98

MazumaBusinessAccounting

DECEMBER 3, 2019

As we approach tax season, it is important to understand different types of tax forms, and why we need them. If you’re hiring a new employee, or trying to report your income tax returns, you have come to the right place! Tax forms are essential for all small businesses and must be filled out properly.

Tax 69

Tax tax return income tax business accounting 69

Ronika Khanna CPA,CA

DECEMBER 2, 2022

Alternatively, some shareholders also take dividends in addition to a salary depending on their tax planning strategy. Use a forms tax software offered by various tax software providers including taxcycle, DTMax, Profile etc. and dividend tax credit of 9.0301% are the same for the years from 2019 to 2022.

tax return 98

tax return Non-Profits income tax Tax 98

Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

Tax 52

Tax tax return business tax accounting and finance 52

LyfeAccounting

JANUARY 13, 2021

People are paying WAY too much in taxes because they are missing out on tax deductions. More than 2 million people overpay on their income taxes every year because they are missing out on tax deductions that can LEGALLY lower their tax liability. How Taxes Work? Without taxes, we’d have no government.

CPA 52

CPA Tax income tax bookkeeping 52

LyfeAccounting

JANUARY 7, 2021

?. Government spending represents over ? Who is profiting from government spending? Government contractors. That’s a lot of money going into the hands of businesses that are set-up to get government contracts. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.

Government 59

Government tax return accounting and finance Start-ups 59

LyfeAccounting

APRIL 4, 2021

So a lot of people already know the personal tax deadline has been extended from April 15 to May 17, 2021, due to some major IRS delays. So basically people are getting an extra 30 days to file their personal tax return. That is so you are prepared for this tax season. Tax Season 2021 New Update. Personal Taxes.

Tax 52

Tax tax return business tax small business accounting 52

LyfeAccounting

APRIL 22, 2021

We’ve all heard it before… Amazon paid $0 in taxes while making over 11 billion dollars in profit. And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. This basically means Amazon got a federal tax refund for millions of dollars. Must be nice, right?

Tax 52

Tax Virginia Georgia income tax 52

LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes.

payroll tax 52

payroll tax payroll Tax tax return 52

LyfeAccounting

OCTOBER 27, 2020

Hey guys, today we’re talking about the estimated tax penalty because it’s a sneaky tax and most people don’t even realize what it is. And of course, we want to make sure that you are doing everything you can to minimize your tax liabilities. Ok now let’s define what is an estimated tax penalty?

Tax 52

Tax tax return income tax Start-ups 52

LyfeAccounting

APRIL 27, 2021

We know there’s a lot of talk about tax refunds and why the IRS is taking forever to process them. But in today’s post, we’ll actually be explaining why having a huge tax refund or any refund at all is not necessarily a good thing and the reasons might surprise you. What is a Tax Refund? What Tax Refunds Are Not Good?

Tax 52

Tax income tax tax return accounting and finance 52

LyfeAccounting

JULY 1, 2021

And we’ll be talking about that in today’s post – the 10 most outrageous things you are taxed on. Top 10 Outrageous Things You Are Taxed On. The first one on our list of outrageous things you are taxed on probably never crossed your mind – illegal activities. Let’s dive in! Illegal Activities.

Tax 52

Tax Gambling tax return income tax 52

LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. – State Income Tax.

payroll tax 52

payroll tax payroll Tax income tax 52

xendoo

MARCH 4, 2022

Ecommerce entrepreneurs and bookkeepers collect sales tax and financial statements. Accountants can use that data to help businesses make future business decisions. Accounting for ecommerce includes the following categories: Bookkeeping (recording of business transactions). Submitting tax returns.

Sales 105

Sales bookkeeping Account accountant 105

Snyder

JANUARY 10, 2023

A business owner must understand how much, on average, business accounting costs. After all, accounting, as an integral part of a business, is something not to put aside. To answer the above question, we’ll need to look at small business accounting as a process. Cost of accounting software.

Account 59

Account accountant accounted bookkeeping 59

Ronika Khanna CPA,CA

MAY 26, 2023

While submitting your tax return is accompanied by a significant sense of relief, one cannot completely relax until you receive the notice of assessment from Revenue Canada (and Revenue Quebec for those of you lucky enough to file two tax returns). It also provides information pertaining to future years.

tax return 52

tax return income tax Tax corporation tax 52

Accounting Insight

FEBRUARY 1, 2024

A large business tax enquiry / corporate tax enquiry is carried out by HMRC’s ‘Large Business’ directorate and ‘Wealthy & Mid-sized Business Compliance’ directorate. This calls for increased resources being required at the business’ end (i.e. What is a business risk review in LB?

corporation tax 52

corporation tax tax return accounting and finance business tax 52

LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? Now unless you’re an accountant reading this then we know you didn’t go to school to learn taxes and you probably don’t spend your weekends binge reading the tax code. Your tax deduction would be about $17,250.

Tax 52

Tax quickbooks Real Estate accounting and finance 52

LyfeAccounting

JANUARY 31, 2021

If you are a business owner that does ANY work from home, and you’re NOT taking the home office deduction… then you’re probably paying more than you have to in taxes to the IRS. If that’s you, and you work from home, then get ready to lower that tax payment to the government. property taxes. HOA expenses.

Tax 52

Tax tax return accounting and finance small business accounting 52

xendoo

MARCH 21, 2022

Tracking your financial matters helps you understand the health of your business and ultimately allows you to make decisions based on real numbers, not just feelings. Ecommerce businesses face their own unique set of challenges—retaining customers and finding the right mix of technology, to name a few. Types of accounting software.

Account 115

Account accountant accounted bookkeeping 115

Ronika Khanna CPA,CA

JANUARY 13, 2023

For those of you who are starting a new business, it is essential to know your tax obligations. Every business owner must report their net profits on a either their personal tax return if they are unincorporated or a corporation tax return if they are incorporated. What are input tax credits?

tax return 52

tax return income tax Tax Sales 52

xendoo

MARCH 16, 2022

They can use their personal accounts for business, but we strongly advise against it. Here’s why: It will make it easier to file taxes for your business (since they are separate from your personal accounts). Your accountants and bookkeepers can monitor the account more freely. Business license.

accrual accounting 52

accrual accounting Account accountant accounted 52

LyfeAccounting

DECEMBER 1, 2020

C-corps are taxed once at the company level, and distributions of profits (aka dividends) to shareholders are taxed again on shareholders’ personal tax returns. Now here are the steps on how you can incorporate a business. Steps on How to Incorporate a Business. Step 3: Putting together your governing documents.

bookkeeping 52

bookkeeping accounting and finance Georgia Tax 52

LyfeAccounting

OCTOBER 12, 2020

I just saved one of my clients over $95,000 in tax expenses from making a simple entity change from an LLC to an S-Corp. We found out that they have been overpaying in taxes for years. And here’s the kicker, if they would have chosen the right entity to start with, they’d have hundreds of thousands in tax dollars in their pocket.

income tax 52

income tax Tax Legal CPA 52

LyfeAccounting

SEPTEMBER 15, 2020

I will tell you the business reasons in determining how to pay yourself. I will also tell you some of the tax implications you need to consider so you can avoid those painful IRS audits. I’m going to show you how I pay myself in my own business, and what you need to consider. You’re receiving money that has not been taxed.

Tax 52

Tax accounting and finance tax planning CPA 52

Ryan Lazanis

APRIL 4, 2022

This will ensure that you only admit the right small businesses into your accounting firm. 4) If you provide tax preparation services, they’re a great way to avoid a crazy tax season. Monthly accounting and bookkeeping services? Tax services that you’ll provide in tax season? Advisory Services?

bookkeeping 98

bookkeeping bookkeeping services accounting firms Technology 98

PYMNTS

OCTOBER 11, 2016

government inquiry called into question RBS’ tactics in dealing with its SME clients. Treasury Committee Chairman Andrew Tyrie is urging the FCA to “get on with publication as soon as possible” and is calling on the government regulator to commit to a publication date. ” Government’s Role.

Government 80

Government accounting and finance Finance Legal 80

PYMNTS

MARCH 19, 2018

Tax reform is likely to lead small businesses (SMBs) in the U.S. to pay more for accounting services, according to new analysis from the Senate. Reports in Accounting Today said Senator Ron Wyden (D-Ore.), ranking Democrat on the Senate Finance Committee, released a report on the impact of tax reform on small businesses.

Tax 40

Tax Account accountant accounted 40