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Dates and Deadlines: When You Can File Small Business Taxes in 2022

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You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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IRS Announces Broad-Based Penalty Relief

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Penalties under §§6038, 6038A, 6038C, 6039F, and 6677 for tax forms in series 5471 and 5472 (both of which relate to foreign corporations) and 3520 (foreign trusts and gifts). Penalties under §6699(a)(1) for form 1120-S (S corporation tax returns). Contact Us. Let’s Chat.

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New York City’s Tax Code Adopts Significant Changes

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Corporations that file as part of a combined group and have more than $10,000 of NYC receipts are deemed to satisfy the receipts threshold if the in-state receipts of all members of the group that separately exceed $10,000 meet the $1 million threshold in aggregation. New York City Pass-Through Entity Tax. Contact Us. Let’s Chat.

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FAQs on Tax Treatment for COVID Relief Programs

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From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

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Tax Problem Resolution in the Inland Empire, CA

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Why Focus on Tax Services in the Inland Empire, California? The Inland Empire, including Corona, CA, has a diverse economic landscape with numerous small to medium-sized businesses. Tailored tax services in this region help businesses and individuals navigate complex tax landscapes effectively.

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What is tax advisory?

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research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do?

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S Corporations Should Be Jaded That 1202 Only Applies to C Corporations

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The magical application of Section 1202 for C corporation shareholders seems too good to be true, with millions of tax dollars being saved. Section 1202 was enacted in 1993 and excludes certain percentages of gain triggered on the sale of Qualified Small Business Stock (“QSBS”) provided the stock is held for more than five years.