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Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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Finding Your Financial Compass: Why Small Businesses in Los Angeles Thrive with Specialized Tax and Accounting Support

MyIRSRelief

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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Ethical Issues in Tax Planning: Conflicts of Interest

CTP

What does it look like to operate ethically in the world of tax planning? Circular 230 regulations are intended for those who “practice” before the IRS, but the ethical standards of conduct can apply to any tax professional. Say the company itself wants to hire you to do its yearly tax plan.

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Bipartisan Senate Tax Plan Would Expand Credits for Businesses, Children, and Low Income Housing

CPA Practice

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. Wyden, D-Ore., and Smith, R-Mo.,

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Business Tax: Property matters

Menzies

Businesses operating within the property and construction sector may have specific needs and requirements that are not commonly found in other sectors. This may include for example complying with the Construction Industry Scheme. Whatever the issue, our sector team has the relevant specialist to assist.

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Tax Credits You May Claim Now

MyIRSRelief

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.

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The Tax Break Commercial Real Estate Investors Might Need After COVID-19

Withum

Favorable rules, which were put into place for taxable years after 1992, could allow the cancellation of debt income to be deferred for federal income tax purposes even if the taxpayer is not in bankruptcy or insolvent—as is normally the case. How coronavirus hit commercial real estate – GREEN STREET ADVISORS.