CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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CPA Practice

JUNE 1, 2023

Before early 2024, tax teams must learn how to balance the additional requirements of the Base Erosion and Profit Shifting (BEPS) 2.0 Pillar Two will impose new data reporting requirements and additional global tax compliance challenges for multinational business with turnover greater than 750M EUR. By David Woodworth.

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Menzies

JANUARY 20, 2023

We’re devised this ‘Finance Directors’ tax toolkit’ to highlight the ways in which Menzies often help large and multinational companies including business tax, employment solutions and innovation incentives (e.g. Transfer pricing Transfer pricing is not only a tax compliance requirement.

Finance 52

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Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

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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.

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inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware has a long history of being a preferred state for business incorporation.

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ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

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xendoo

MAY 30, 2021

Florida is among the most tax-friendly states in America. If you have a small or midsize business in the state of Florida, you may be shielded from many typical forms of small business taxes. But how can you know which tax laws apply to your business? income tax. Florida has a sales tax rate of 6%.

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ThomsonReuters

NOVEMBER 12, 2021

Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . They may be sole proprietors, partnerships, LLCs, LLPs, or S corporations.

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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?

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Inform Accounting

MARCH 15, 2023

Increasing the pensions lifetime allowance from £1.07m to £2m Increasing the amount people can pay into a pension tax free, i.e. from £40k per year to £60k per year. What was hoped was that the chancellor was going to stop the planned corporation tax rise from 19% to 25% for businesses earning between £50k and £250k in profits.

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Non-Profits Tax tax return corporation tax 52

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.

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Cheap Accounting

FEBRUARY 4, 2022

They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. Company Accounts and Corporation Tax Return – annual filing. You would do this in two places: Via your Business Tax Account with HMRC for VAT, Self Assessment, PAYE and Corporation Tax.

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Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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Inform Accounting

NOVEMBER 18, 2022

We already knew that he was going to raise taxes and reverse most, if not all of the Truss Budget. The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. What this means is that we are back in Austerity 2.0

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ThomsonReuters

NOVEMBER 11, 2021

The practice is being increasingly regulated to ensure that profits are taxed at the place where value is created. In fact, a global effort is underway to tighten the restrictions and increase the documentation requirements for this practice, adding a significant amount of work and responsibility to the task of the corporate tax professional.

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Ronika Khanna CPA,CA

NOVEMBER 18, 2022

Once you have decided to establish a new corporation, there are certain best practices that you should implement to ensure that your corporation runs smoothly right from the beginning. Maintain all your incorporation documentation, either physically in a file folder or scan it to accounting/corporate folder on your computer.

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Menzies

MARCH 6, 2023

Stephen Hemmings – Business Tax Partner The Apprenticeship Levy has been with us for over five years but there remain employers unaware of what this is all about, whether it is payable, what action is available to mitigate the cost and what benefits are available to the business? It is a levy of 0.5%

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ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. What is a C Corporation?

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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?

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DMCL

APRIL 11, 2022

While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was undoubtedly influenced by the recent announcement of a coalition with the NDP. of GDP for 2022/23.

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Non-Profits Real Estate Tax Construction 52

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.

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Ronika Khanna CPA,CA

SEPTEMBER 28, 2021

Note that there are no fees to sign up for GST/QST, deductions at source or corporate taxes. Any expenses incurred to generate business income are then deductible. For everything you need to know about starting your Quebec (or Canada) based sole proprietorship , check out our Starting Your Business Ebook.

Legal 52

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inDinero Tax Tips

MAY 24, 2023

However, gross vs net income is slightly different for tax purposes depending on whether you’re an employer or an employee: Employers pay tax on net income Employees pay tax on gross income Because the law requires employers to withhold taxes from employees, business owners need to keep both perspectives in mind.

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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

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inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered The Place to establish your corporate entity. Delaware does tax companies. With so few taxes, how does Delaware rake it in? The Delaware franchise tax. and 11:59 p.m.

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Withum

MARCH 21, 2022

Careful analysis of the employee retention credit (“ERC”) provided under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the 199A limitations set forth under the Tax Cuts and Jobs Act of 2017 (“TCJA”) may lead to unexpected tax consequences this tax season.

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CPA Practice

MARCH 15, 2024

He said the moves would reverse many large tax breaks enacted by the Trump administration. The president said he would like to see the corporate tax rate rise to 28%, and what’s known as the corporate minimum tax rate increased to 21%. Q: Is President Biden on the right track with his tax increase proposals?

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ThomsonReuters

MARCH 2, 2021

Business leaders are looking for opportunities in disruptions as they prepare their companies for the future, and tax technology should be a part of their plans. With the right tax data software, your tax department can save money by automating and standardizing processes across the organization and enhancing accuracy and timeliness.

Tax 52

Tax corporation tax Technology audit 52

ThomsonReuters

DECEMBER 14, 2020

Business Tax Professionals. The tax rules and regulations U.S. We’re left to approach tax-filing season with a great deal of uncertainty,” said Melissa Oaks, a Thomson Reuters tax specialist who presented the webinar. 20 with an ambitious tax agenda and a singular priority. Recent Changes.

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