Ronika Khanna CPA,CA

MAY 3, 2024

If you are a small business owner, you may have omitted or misstated some revenues or expenses, your calculations for home office expenses or car expenses that you can deduct may be incorrect or perhaps you forgot to include assets that can be depreciated eg. the new home buyer’s credit or the hybrid car tax credit.

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tax return Tax income tax tax preparation 98

CPA Practice

JANUARY 18, 2024

[Your credentials] with [#] years of experience helping individuals and small businesses with tax filings and compliance. Saving [your niche] money one tax write-off at a time! Accepting new tax preparation clients for the 2024 filing season. Tax Filing Deadlines – Avoid An Extension c. Inflation Pinch?

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xendoo

FEBRUARY 23, 2022

In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. How do you know when to bring in a tax professional? How Much Time Does it Take an Accountant to Prepare Taxes? State or local property tax.

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Tax tax preparation tax return Account 94

ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Accountant vs. CPA vs. tax preparer: What are the differences? Accounting professionals may find that some outside of the profession do not fully understand the differences between an accountant and a tax preparer. So, what are the differences?

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Account accountant accounted tax preparation 59

ThomsonReuters

JULY 6, 2023

Let’s take a look at what tax advisory is and how you can take advantage of this approach to serving clients. What are tax advisory services? Typically, tax advisors have more experience and education than accountants and are well-versed not only in accounting, but in tax law, finance, and business strategy.

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Tax tax return income tax audit 98

ThomsonReuters

MARCH 1, 2024

To the IRS, S corporations (S corps) are considered “ pass-through entities ”, which means any deductions, losses, income, credits, and profits pass through directly to shareholders, who report their share of the business’s performance on their own personal tax returns. What IRS tax forms do S corps file?

corporation tax 52

corporation tax Tax tax return income tax 52

Nancy McClelland, LLC

APRIL 9, 2024

For years, we have stressed the importance to our clients of making quarterly estimated tax payments. And unlike many tax preparers, we also do bookkeeping, accounting, and consulting for our small business owners — so we’ve also encouraged them to have us do a quarter-by-quarter calculation of how much to pay.

Illinois 52

Illinois Tax tax preparation tax return 52

LyfeAccounting

APRIL 27, 2021

But as a CPA who prepared at least hundreds of returns, we can tell you that a tax refund is usually the result of a mistake. A tax refund is a refund of the taxes you OVER paid. So in actuality, you paid more in income taxes than was necessary by law. The Child Tax Credit or CTC.

Tax 52

Tax income tax tax return tax preparation 52

LyfeAccounting

JANUARY 30, 2021

On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on. Regardless of where you are our team at, LYFE Accounting specializes in business tax returns and we’re ready to help you this year. Find all your qualified business expenses or deductions for 2020.

Tax 52

Tax tax return bookkeeping bookkeeping services 52

Nancy McClelland, LLC

FEBRUARY 13, 2022

The good news is that — as frustrating and arduous as this new IRS K-2 and K-3 reporting requirement is — no one is likely to die while attempting to complete it, and therefore I think we should just all keep this extremely challenging K-2 mountain in mind before we get too frustrated about additional complexities in tax preparation.

tax preparation 52

tax preparation Tax CPA tax return 52

Nancy McClelland, LLC

DECEMBER 26, 2023

The IRS is now planning a phase-in of $5,000 for tax year 2024. As a bookkeeper, accountant or tax preparer, it’s important to protect your small business clients by making sure all taxable income is being reported on their books/returns.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

The IRS is now planning a phase-in of $5,000 for tax year 2024. As a bookkeeper, accountant or tax preparer, it’s important to protect your small business clients by making sure all taxable income is being reported on their books/returns.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

MyIRSRelief

NOVEMBER 19, 2021

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. My name is Mike Habib and I’m here to tell you about tax credits for this year that can help save you some money. Tax credits to look out for.

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xendoo

SEPTEMBER 2, 2021

Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . To help business owners with their tax preparation , we’ve prepared a business tax filing guide to walk you through the process.

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Tax income tax tax return tax preparation 52

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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Tax income tax Non-Profits Legal 59

Nancy McClelland, LLC

DECEMBER 28, 2022

The S-corporation deducts the expense as compensation and includes the amount on the shareholder’s W-2 — in Box 1, but not in Boxes 3 or 5, which means they are not subject to Social Security or Medicare taxes (commonly known as “payroll taxes” or “employment taxes”).

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payroll payroll tax Tax tax preparation 52

ThomsonReuters

JUNE 16, 2023

To further illustrate, consider the following example: When President Trump was elected, he ran on a political ticket that he was going to simplify the individual income tax return so that computing individual income taxes was so easy it could fit on a postcard.

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Tax tax return audit income tax 97