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Will Congress Say Bah Humbug To Small Businesses?

Withum

More recently, tax writers were meeting on a regular basis and the news reported on a rough outline of a plan, but that came to nothing. So now Congressional leaders have departed for winter recess and will return to a full plate of financing the government when they return. appeared first on Withum.

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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

Withum

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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Guide to accountant responsibilities

ThomsonReuters

Types of accountants and niche practice areas There are, of course, various types of accountant jobs and areas of specialty. Requirements to become a CPA Those accountants interested in becoming a CPA must earn at least a bachelor ’ s degree and pass a state licensure exam. However, this is no longer the case.

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Business Tax Credits to Lower Your Tax Bill

xendoo

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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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

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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Nexus 101: How Remote Employees Impact Your Taxes

Shay CPA

Director, New Jersey Division of Taxation , the decision validated that an out-of-state employer could be subject to New Jersey’s corporation business tax because just one remote worker resided and worked within state lines. Again, this hinges on state law, and it can get complicated. In other words, you could face double taxation.

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What Happens if a Business Doesn’t File Taxes?

xendoo

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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