LyfeAccounting

OCTOBER 21, 2020

So I’d say, learn how to use small business tax deductions to lower your liability. Because you definitely don’t want to spend more in taxes for another year. In these times, whether your business is on the ropes or booming, you want to take advantage of deductions. retirement contributions. health care expenses.

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ThomsonReuters

JANUARY 28, 2022

Companies that only offer tax services have to start over each year building a brand through marketing and advertising. By offering services that last throughout the year, you can keep your business at the forefront of customers’ minds even when they don’t need tax preparation. Business tax preparation.

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ThomsonReuters

APRIL 18, 2022

It’s easy to lose sight of why you’re doing the job you do when things get busy. But accounting is a fundamental part of a business. It helps everything run smoothly on the finance side and ensures that every company you deal with is paying the correct taxes.

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CPA Practice

FEBRUARY 23, 2023

A lot of it comes down to a lack of organization and preparation. The FreshBooks survey found that 43% of small business owners procrastinate when it comes to tax preparation, with the majority saying they do not have enough time, and/or they do not understand what they can do to be better prepared to file.

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Ronika Khanna CPA,CA

MAY 3, 2024

For more significant changes that you have some doubt about, I do always recommend contacting an accounting or tax preparer to help you with the process. For more significant changes that you have some doubt about, I do always recommend contacting an accounting or tax preparer to help you with the process.

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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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ThomsonReuters

NOVEMBER 8, 2022

Use automation to generate tailored document request lists and the retrieval of documents while using APIs to automate integration with your tax, document, and workflow software. . Tax preparation. Automate workpaper preparation and data entry with an option to outsource data verification.

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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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ThomsonReuters

JUNE 15, 2022

Now more than ever, your tax and accounting staff require a robust system or framework that leverages technology so that they can keep up with regulatory developments in a timely manner. Top CPA firms have long understood the need to elevate their staff from being tax preparers to tax advisors.

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Steve Feinberg

OCTOBER 9, 2023

Remember that even as you follow these steps, it’s essential to keep accurate bookkeeping for web designers to monitor your finances, and you may need to seek advice from a financial consultant along the way. To learn more, contact one of our business professionals today!

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xendoo

DECEMBER 13, 2021

When your books are clean and current, your business will benefit in the following ways: Simpler Tax Preparation. Your business taxes depend on your income. Having accurate books ensures that you’ll be able to accurately report your income for the preceding tax year. . Better Strategic Focus.

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Going Concern

JANUARY 19, 2024

Finance ] Step aside, CFOs: New generative AI technology stands to supplant you as your CEO’s best friend. Coss, 54, was arrested Tuesday and is held in the Broward Main Jail on 18 charges stemming from an ongoing Internal Revenue Service tax fraud investigation.

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LyfeAccounting

MARCH 16, 2021

According to a recent KPMG report , you can take a full deduction for business meals provided by a restaurant. So for those of you filing your business taxes for 2020 , you will not be able to take a full deduction on your tax return. We offer various tax services so be sure to get in touch with us today at 470-240-1437.

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xendoo

JULY 6, 2023

Businesses can take steps to avoid triggering an audit. For example, online bookkeeping and business tax services can file accurate returns, on-time for you so you avoid common audit triggers. For many businesses, hiring a professional tax service is the best choice for keeping organized records and filing accurate tax returns.

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xendoo

JULY 6, 2023

Businesses can take steps to avoid triggering an audit. For example, online bookkeeping and business tax services can file accurate returns, on-time for you so you avoid common audit triggers. For many businesses, hiring a professional tax service is the best choice for keeping organized records and filing accurate tax returns.

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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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xendoo

AUGUST 24, 2021

Once your DBA is set up, you can open a business bank account. This ensures that your personal and business expenses stay separate, and creates an accurate picture of your business’s finances. Be aware that sole proprietors are required to withhold self-employment taxes, which contribute to Social Security and Medicare.

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inDinero Tax Tips

NOVEMBER 16, 2021

In most solar tax equity structures, the tax equity investor will put in 40% of the purchase price of the solar panels in exchange for 100% of the tax benefits. Tax benefits vary, usually by state, but almost all of them provide benefits for 3rd party tax equity financing of solar projects.

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inDinero Tax Tips

NOVEMBER 16, 2021

In most solar tax equity structures, the tax equity investor will put in 40% of the purchase price of the solar panels in exchange for 100% of the tax benefits. Tax benefits vary, usually by state, but almost all of them provide benefits for 3rd party tax equity financing of solar projects.

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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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Ronika Khanna CPA,CA

APRIL 14, 2022

Unlike a simple personal tax return with no business income, this information is generally not simply provided to you on a tax slip, such as a T4 or T5, but must be compiled and calculated. This is also true for spouses of small business owners who may only have a regular(non small business) tax return.

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ThomsonReuters

NOVEMBER 15, 2023

Form 990 is a key document that tax-exempt organizations, including charities and nonprofits, must file annually with the IRS. It provides comprehensive information about the organization’s activities, governance, and finances, ensuring transparency and accountability. Fill out the chosen tax form accurately and thoroughly.

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Snyder

DECEMBER 27, 2022

Remember, this is your business and you can say yes or no to reach a mutually acceptable agreement with your clients. Finance and work stability are other elements that need to be spoken about. During the busy tax season every accountant has their hands full , so that shouldn’t be discounted. Specify your services.

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Ronika Khanna CPA,CA

FEBRUARY 10, 2023

NAICS Code When preparing your tax return, all small business owners have to select a North American Industry Classification System Code (NAICS) that most accurately describes their main revenue generating activity. The code is available as a dropdown in most tax preparation software.

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LyfeAccounting

NOVEMBER 13, 2020

We’ve helped companies with preparing their financial statements. And we’ve helped companies save a lot of money with tax preparations. So if you’re in a business, then understanding your financials are really important. Whereas an accountant can help you out with tasks that include: Tax preparation.

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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.

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LyfeAccounting

MAY 18, 2021

The first tax mistake that we see new business owners make is not having a separate bank account for just their business. It is so important to do this so you can clearly keep track of all of your business income and expenses. After all, you want to write off as many business tax deductions as possible.

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LyfeAccounting

APRIL 27, 2021

Based on the average financing rate of a vehicle, which is 5%, you just paid $175 more in interest on your car payments. Other Reasons for Tax Refunds. Well, if you need help with your business tax planning and tax preparation to make sure you’re not paying more than you need to, then get in touch with us today.

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Snyder

NOVEMBER 14, 2022

When a CPA is in the zombie zone, you can’t perform well during the tax filing season. Will your clients be satisfied with loosely done books auditing and tax preparation in the end? That’s why the busy season is all about setting boundaries. For the upcoming tax season, do your planning and stick to it.

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LyfeAccounting

DECEMBER 7, 2020

However, if you need help with your business taxes, LYFE Accounting is just one click away. We provide a number of financial solutions to businesses like yours- from tax preparation , to tax planning , to accounting , to bookkeeping , and to CFO services , we’re here to help! Contact us now at 470-240-1437.

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LyfeAccounting

APRIL 22, 2021

Business Energy Tax Investment Credit. Here’s a full list of business tax credits from the IRS website. Amazon makes business decisions that will provide them with the biggest tax benefit. How to Write Off Taxes Takeaways. How to write off taxes and pay $0.00 Let us explain. like Amazon!

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LyfeAccounting

FEBRUARY 19, 2021

Now because SMLLC can be classified as a disguised entity, the responsibility for paying income taxes is passed through to the owner. This way of taxing profits is known called pass-through taxation which then references LLCs as pass-through entities. Self-employment Taxes. Get in touch with us today!

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Regardless, your record keeping should be as accurate and detailed as possible as this will help your tax prepare to properly reflect your data. Ronika Khanna is an accounting and finance professional who helps small businesses achieve their financial goals.

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xendoo

JANUARY 17, 2022

As a business owner, how do you go about filing personal and business taxes with the IRS? The answer to this question actually depends on the way your business is structured, so there’s not a one-size-fits-all approach to filing small business taxes. Are Business Taxes and Personal Taxes FiledTogether?

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CPA Practice

JANUARY 12, 2024

the technology company that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , has integrated TurboTax into Credit Karma and QuickBooks Online, allowing customers to prepare and file their 2023 taxes within those programs’ interfaces. Intuit Inc. ,

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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 tax enquiry / hmrc corporate enquiry ?

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LyfeAccounting

NOVEMBER 4, 2020

Sole proprietorship small business tax filings are actually the same as single-member LLCs. For tax purposes, there isn’t a difference between the two and they require the same tax forms filed and taxes paid. Form Schedule C is not actually a separate business tax return. Partnerships. Corporations.

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