MyIRSRelief

MAY 22, 2023

In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems. Contact us for tax help today. Tax audits can be time-consuming and require a significant amount of documentation.

payroll tax 147

payroll tax payroll audit Tax 147

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.

Tax 104

Tax tax planning cpas CPA 104

ThomsonReuters

JANUARY 18, 2024

Preparing tax returns. 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?

Account 59

Account accountant accounted tax preparation 59

xendoo

MAY 16, 2023

However, forgetting or misplacing receipts happens, especially when you’re busy running a business. The IRS regularly deals with missing receipts, so there are guidelines for what businesses can do if they don’t have receipts. Also, Xendoo’s bookkeepers and CPAs have years of experience managing business record keeping.

audit 52

audit bookkeeping tax return cpas 52

xendoo

MAY 16, 2023

However, forgetting or misplacing receipts happens, especially when you’re busy running a business. The IRS regularly deals with missing receipts, so there are guidelines for what businesses can do if they don’t have receipts. Also, Xendoo’s bookkeepers and CPAs have years of experience managing business record keeping.

audit 52

audit bookkeeping tax return cpas 52

xendoo

DECEMBER 3, 2021

Once January arrives, your accountant will request certain forms in order to close your books and file your small business taxes. Form W-2 is used by business owners to report salary information for their employees, as well as the taxes that are withheld from their paychecks. CPAs provide the Schedule K-1.

bookkeeping 98

bookkeeping Account accountant accounted 98

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.

Tax 52

Tax tax preparation business tax bookkeeping 52

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.

Tax 52

Tax tax preparation business tax income tax 52

Nancy McClelland, LLC

APRIL 9, 2024

There’s good news, too, however — the state of Illinois — and many other states, used legislation to create a loophole for getting around a pesky TCJA limitation on the State And Local Tax (SALT) deduction.

Illinois 52

Illinois Tax tax preparation tax return 52

inDinero Tax Tips

AUGUST 29, 2023

Don’t Even Try Deducting These 13 Non-Deductible Business Expenses Frequently Asked Tax Deduction Questions Conclusion What Are the IRS Rules for Non deductible Business Expenses? There are many ways businesses can lower their tax liability. Are CPA Fees Tax Deductible?

Tax 95

Tax Entertainment Real Estate bookkeeping services 95

Nancy McClelland, LLC

APRIL 5, 2024

Not only did we end up using these reports for our own tax clients, but we also sent them over to our colleagues who prepare the tax returns for certain bookkeeping clients of ours, to help them out. Who do you think they’re going to recommend when a tax client needs accounting and bookkeeping assistance?

tax preparation 52

tax preparation Tax bookkeeping payroll 52

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?

business tax 52

business tax Tax tax return income tax 52

inDinero Tax Tips

NOVEMBER 15, 2021

Understanding Deductible Business Expenses. After subtracting deductions, you’ll only need to pay taxes for your net revenue. The current business tax rate is 21% at the federal level, plus state corporate taxes that range anywhere from 0-11.5%. Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

Tax 52

Tax income tax Legal Entertainment 52

Nancy McClelland, LLC

FEBRUARY 13, 2022

In all seriousness, here’s the story: 1) The IRS, in an attempt to deter fraud, for 2021 began requiring all pass-through entities to disclose foreign transactions as part of the tax returns and the K-1 package to shareholders and partners. 2021 Tax Advisor) • AICPA Comment Letter, K-2/K-3 (Sept.

tax preparation 52

tax preparation Tax CPA tax return 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.

business tax 52

business tax Tax income tax payroll 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? So we’re not going to use a bunch of tax jargon you will read on other blogs. Instead, we are going to do our best to make this a very simple guide so that you can follow and implement this yourself on your next tax return.

Tax 52

Tax quickbooks Real Estate accounting and finance 52

xendoo

MAY 16, 2023

Difference between filing and paying taxes There is a difference between filing and paying your taxes. While you file tax returns once a year, businesses must also pay estimated taxes quarterly. The deadline for both is the same in Q1 of 2023, but quarterly taxes have different due dates throughout the year.

Tax 52

Tax tax return bookkeeping cpas 52

xendoo

MAY 16, 2023

Difference between filing and paying taxes There is a difference between filing and paying your taxes. While you file tax returns once a year, businesses must also pay estimated taxes quarterly. The deadline for both is the same in Q1 of 2023, but quarterly taxes have different due dates throughout the year.

Tax 52

Tax tax return bookkeeping cpas 52

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?

Tax 52

Tax tax return Non-Profits Legal 52

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.

Tax 52

Tax cpas bookkeeping quickbooks 52

xendoo

MARCH 14, 2023

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. As a pass-through entity, business owners pay taxes for their business on their personal tax returns.

tax return 52

tax return Real Estate bookkeeping Tax 52

xendoo

MARCH 14, 2023

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. As a pass-through entity, business owners pay taxes for their business on their personal tax returns.

tax return 52

tax return Real Estate bookkeeping Tax 52

Steve Feinberg

JUNE 6, 2023

While more complicated, paying quarterly taxes can help small businesses and freelancers avoid the burden of a single, larger tax bill at the end of the year, and stop them from overpaying. Self-employed designers must fill out a tax return, much like all businesses should, on or before the deadline.

Tax 52

Tax tax return bookkeeping accounting and finance 52

xendoo

DECEMBER 11, 2022

Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. It helps businesses report their yearly profits and losses to determine their tax liability. Businesses can also use Form 1120 to report the gains or losses from the sale of assets and any taxes due from foreign income.

Tax 52

Tax income tax tax return bookkeeping 52

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.

Education 102

Education Account accountant accounted 102

xendoo

SEPTEMBER 28, 2021

Our goal is to make sure that you have the tools you need to appropriately file your tax return this year. Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021. The current deadline for business tax preparation and submission is currently April 15, 2022.

tax preparation 52

tax preparation Tax income tax bookkeeping 52

xendoo

MARCH 18, 2021

We also keep you IRS compliant and take care of your tax returns. You can see your revenue and profitability trends over time, which can help you grow your business. Plus Xendoo’s in-house CPAs prepare and file your business tax returns all under the same roof as Xendoo bookkeepers who are located in the U.S.

accounting software 52

accounting software online accounting Account accountant 52

LyfeAccounting

JULY 23, 2021

If you’re looking for credible CPAs to help you with this, contact us today. So you would report the 1031 transaction on Form 8824 and include it with your tax return. If you have a business entity set up for your real estate deals, then 8824 would be included with your business tax return.

Real Estate 52

Real Estate Tax tax return cpas 52

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.

Tax 52

Tax Legal tax return Non-Profits 52

LyfeAccounting

DECEMBER 28, 2020

Yes, even many accountants I know aren’t aware of the tax incentives that small and large businesses are taking advantage of to DRAMATICALLY reduce their tax liability. So in this post, I’m going to uncover and fully breakdown small business tax credits and incentives that can put tax dollars back into your pockets.

business tax 52

business tax Tax tax return Government 52

inDinero Accounting

JANUARY 9, 2023

It’s Time to Get Serious About Your Taxes Our Entrepreneur’s Business Tax Pack eBook will tell you all you need to know about making the most of your tax filings at your startup. indinero has been providing businesses like yours with expert financial operations services for over a decade.

Account 52

Account accountant accounted accrual accounting 52

inDinero Accounting

JANUARY 9, 2023

It’s Time to Get Serious About Your Taxes. Our Entrepreneur’s Business Tax Pack eBook will tell you all you need to know about making the most of your tax filings at your startup. inDinero has been providing businesses like yours with expert financial operations services for over a decade. Get it Now.

Account 52

Account accountant accounted accrual accounting 52

Going Concern

DECEMBER 2, 2022

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. McCabe — happened after their tax returns were randomly selected for inclusion in the initial pools from which the agency drew to carry out the examinations.

public accounting 98

public accounting audit Account accountant 98