CPA Practice

OCTOBER 3, 2023

Tax service providers such as KBKG help clients navigate complex matters including the Employee Retention Credit, 174 Research and Expenses, and Green Building Tax Incentives like the 179D Deduction and 45L Credit. The reason clients continue to partner with us is because their results are reflected in our values.”

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ThomsonReuters

JANUARY 18, 2024

CPA responsibilities to clients As a trusted advisor in an increasingly complex financial landscape, certified public accountants (CPAs) have significant responsibilities for the services they provide to their clients. Accountant vs. CPA vs. tax preparer: What are the differences?

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xendoo

APRIL 3, 2023

For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. Which should you claim to get the most tax savings? You might be unaware that you qualify for multiple credits that will lower your total tax burden significantly.

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xendoo

APRIL 3, 2023

For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. Which should you claim to get the most tax savings? You might be unaware that you qualify for multiple credits that will lower your total tax burden significantly.

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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. . Understanding Deductible Business Expenses.

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Steve Feinberg

DECEMBER 22, 2023

Additionally, seeking the advice of a financial professional or mentor can provide valuable insight and guidance on interpreting financial statements and making informed business decisions. Navigating Business Taxes: It is important to have a good understanding of your business’ tax situation.

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xendoo

SEPTEMBER 10, 2021

Some business owners are leery of outsourcing their sensitive financial data to an online company. Our bookkeepers and CPAs are available by phone, text, and email, so you’re never out of touch with our skilled team. Business Tax Preparation and Filings. Taxes represent a unique SMB bookkeeping demand.

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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. How do you know which tax credits will save you the most money?

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Nancy McClelland, LLC

APRIL 5, 2024

In fact, here’s a great idea for all the bookkeepers reading: run this report for all your clients, prepare a zip file for each of the tax preparation firms you work with, and send them this beautiful present all tied up with a pretty virtual bow.

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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.

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Nancy McClelland, LLC

APRIL 9, 2024

Doing annual clean-ups during tax season simply is no longer sustainable (to be honest I’m not sure it ever was, which is one of many reasons so many CPAs are burned out), and isn’t cost-effective.

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Nancy McClelland, LLC

FEBRUARY 13, 2022

As you may have guessed, this unexpected new guidance will cause additional time, effort, and cost to all our small business S-Corps and Partnerships — almost none of whom actually have any foreign transaction exposure. 2021 Tax Advisor) • AICPA Comment Letter, K-2/K-3 (Sept.

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xendoo

DECEMBER 11, 2022

Corporations and LLCs that are taxed as corporations must use this form to report their income, tax deductions , and credits. Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. Net capital gain income. Tax deductions (These vary by company.

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xendoo

SEPTEMBER 28, 2021

Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021. While it remains to be seen whether they plan to do the same for the 2021 tax year, it is a strong possibility. . The current deadline for business tax preparation and submission is currently April 15, 2022.

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Snyder

JANUARY 19, 2023

Tax season is the time when accounting firms and CPAs earn the biggest part of their profit. Surviving tax season is a skill that any accountant has to develop, and the earlier, the better. But first, let’s ask an expert about the challenges that professional accountants face during this busy season.

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xendoo

JANUARY 26, 2023

However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. When you run a business, it’s easy to fall behind on your books and taxes. Types of Penalties How Long Can You Go Without Filing Business Taxes?

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xendoo

FEBRUARY 13, 2023

The corporation uses Form 1120 to report income and claim credits and deductions each year. A pass-through entity doesn’t file taxes as a separate entity. Instead, the income “passes through” to the owner of the business who pays personal income taxes on their share of the business.

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xendoo

MARCH 14, 2023

The QBI deduction is only available to pass-through entities between the tax years 2018-2025. A pass-through entity is a business that doesn’t need to file a separate business tax return. Instead, the owners report business income on their personal income tax returns.

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xendoo

MARCH 14, 2023

The QBI deduction is only available to pass-through entities between the tax years 2018-2025. A pass-through entity is a business that doesn’t need to file a separate business tax return. Instead, the owners report business income on their personal income tax returns.

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tax return Real Estate bookkeeping Tax 52

Steve Feinberg

JUNE 6, 2023

You can claim the premiums paid on business insurance such as liability, property, and professional liability insurance. Insurance expenses are deductible when filing your income tax return, so keep all records relating to your insurance policies.

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Going Concern

OCTOBER 11, 2022

According to the SBA , small business generates about 44% of GDP in America and 2/3 of new jobs annually. These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide.

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LyfeAccounting

MARCH 5, 2021

And because C-Corporations are subject to double taxation and S-Corporations are not, it shines a bright light on S-Corporations as a good entity choice to save on this tax. So let’s look at each entity closely so you can determine which makes the most sense for your business. Tax Differences: Sole Proprietor vs LLC vs S-Corp.

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inDinero Accounting

JANUARY 9, 2023

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. First of all, there are many other taxes – such as payroll tax, property tax, sales tax, and excise tax – to worry about.

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inDinero Accounting

JANUARY 9, 2023

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. First of all, there are many other taxes – such as payroll tax, property tax, sales tax, and excise tax – to worry about.

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