MyIRSRelief

DECEMBER 15, 2022

Compliance with laws and regulations: SoCal small business owners are required to keep certain financial records in order to comply with various laws and regulations, such as tax laws. Proper accounting and bookkeeping can help them to meet these requirements and avoid potential legal issues.

tax accountant

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance

business tax

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

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

ThomsonReuters

JANUARY 28, 2022

If you spend a lot of time hiring temporary employees just to help with tax season, you could be missing out on a lot of potential talent—those employees who are looking for long-term positions. Having a steady flow of business throughout the year means you can keep great employees on staff. Business tax preparation.

Tax

xendoo

FEBRUARY 15, 2022

Navigation business tax requirements and preparation. Looking for available deductions to lower your tax burden. Helping to manage capital gains taxes. Sorting through tax advantages of life events. A tax consultant may work with individuals, businesses, or both. Helping to Mitigate Business Taxes.

tax consultant

CPA Practice

JUNE 1, 2023

Inconsistent data leads to errors in tax reporting and forecasting, which could result in enormous financial and legal costs if data and process are not aligned. There are four specific steps leaders can take today to prepare for the implementation of Pillar Two, while providing the support their tax teams need: 1.

Tax

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

ThomsonReuters

NOVEMBER 8, 2022

Cloud-based accounting technology offers the ability to share data and documents directly via private accounts, automatically extract data from client source documents, or easily transfer account balances from integrated business tax preparation software. . Shift to an advisory services model .

Technology

Ronika Khanna CPA,CA

MARCH 7, 2025

Want to Simplify Your Taxes? Stay Organized Get your free Small Business Tax Return Checklist to help you gather the key documents and information needed to prepare your return. Reconcile Payments More Easily Access statements of account to reconcile payments between various tax accounts.

business accounting

Withum

JANUARY 8, 2024

Based on this modified guidance, contract researchers should review their legal documents carefully to determine whether they can fall under the excluded product right exception and most likely immediately expense the R&E activity as a trade or business expense.

tax return

inDinero Tax Tips

NOVEMBER 4, 2021

Too many deductions: Deductions are a great way to save money at tax time, but too many deductions can trigger a letter from the IRS. If you have questions, check out our primer on business tax deductions. Excessive expenses: Writing off expenses is standard practice for any business.

audit

Steve Feinberg

SEPTEMBER 20, 2021

The biggest differences between the various business types often comes down to different tax levels and protections in the case that your business is sued or declares bankruptcy. An S or C Corporation offers the most legal protection for business owners, for example, but is also subject to tighter regulations and fees.

Legal

LyfeAccounting

NOVEMBER 9, 2020

In this post, I’m going to explain all of the tax benefits related to LLCs. It is not meant to take the place of legal and accounting advice specific to your business. The tax loopholes associated with LLCs. And maybe you’ve heard that LLCs can help you evade taxes all together. LLCs is not a tax loophole.

Tax

Basis 365

APRIL 28, 2022

Choosing your entity type really crosses two disciplines, legal and tax. The legal side of your entity type relates to your legal protection or future equity expectations for the business. Most business owners pick a type and never look back. Analyzing the Different Business Types According to the U.S.

income tax

xendoo

APRIL 27, 2023

While you may pass off your tax return filing to a professional, it’s helpful to understand what’s going on with your business taxes. If you’re a small business owner trying to understand Form 1065 and its requirements, this guide will clear things up for you. As with any business tax form, there are exemptions.

Non-Profits

xendoo

APRIL 27, 2023

While you may pass off your tax return filing to a professional, it’s helpful to understand what’s going on with your business taxes. If you’re a small business owner trying to understand Form 1065 and its requirements, this guide will clear things up for you. As with any business tax form, there are exemptions.

Non-Profits

Going Concern

JANUARY 19, 2024

Practice Protecting tax accounting information: Best practices for IT professionals in data security and confidentiality [ Thomson Reuters ] Accounting firms are entrusted with a wealth of sensitive financial data, including tax records, income statements, and other confidential information.

Arizona

LyfeAccounting

DECEMBER 1, 2020

Just don’t expect tax or legal advice. A registered agent is an individual or business that accepts tax and legal documents on behalf of your business. And if you need help with your business’ financial management, LYFE Accounting got your back.

bookkeeping

xendoo

FEBRUARY 13, 2023

Everyone—from individuals to business owners—wants to know how to lower their taxes. Tax laws are complicated and they can change each year. Our tax accountants know all the tax breaks for business owners and how to leverage them. It includes earned income from your business or wages from a job.

Tax

inDinero Accounting

APRIL 9, 2021

When you use cash accounting, you can misrepresent revenues (not record deposits) and expenses (show payments after they happened), leading to risky financial practices. We can’t close on accrual accounting without mentioning its effect on SaaS business taxes. Protip: Do not confuse GAAP for an accounting method.

accrual accounting

xendoo

MAY 16, 2023

The worst-case scenario is that the IRS may remove some business tax credits and deductions you claim. Audits aren’t as big a deal as movies and the media make them out to be, especially if you keep organized business records. Depending on your situation, you may need to pay IRS fees.

audit

xendoo

MAY 16, 2023

The worst-case scenario is that the IRS may remove some business tax credits and deductions you claim. Audits aren’t as big a deal as movies and the media make them out to be, especially if you keep organized business records. Depending on your situation, you may need to pay IRS fees.

audit

ThomsonReuters

DECEMBER 19, 2023

Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. That’s why it’s important to understand the complexities of these initiatives and how making eco-friendly choices can maximize tax savings. Risk mitigation. Enhanced reputation and brand value.

Tax

Steve Feinberg

NOVEMBER 9, 2021

If you plan on seeking funding from investors, many might ask to see your business plan—or at the very least, expect you to explain it to them. Once you have an idea of what your business will do, it’s time to familiarize yourself with the formal and legal process for making your company a reality.

New Hampshire

LyfeAccounting

JUNE 17, 2021

A quick disclaimer that this is not legal advice, and you should get your operating agreement checked by an attorney of your choice. An Operating Agreement is a legally binding document that outlines in detail the rights and responsibilities of the members of the LLC and how the business will operate. Tax Write-offs for LLC.

Legal

CPA Practice

JULY 25, 2025

Jason Bramwell Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access , the IRS said on Wednesday. To revalidate, designated officials must log in to their Business Tax Account. Thanks for reading CPA Practice Advisor!

tax accountant