Withum

NOVEMBER 29, 2023

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.

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MyIRSRelief

APRIL 22, 2024

The process involves submitting an application to the IRS with a detailed explanation of your financial situation, often with the help of a tax professional. How Can I Resolve Unfiled Tax Returns in Corona, CA? Failing to file tax returns can lead to penalties and potential legal issues.

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inDinero Tax Tips

JUNE 12, 2023

Drawing the Line Between Personal and Business What Are the Consequences of Commingling Business and Personal Funds? Quite a few issues can arise if you mix your business and personal funds— from minor inconveniences to high financial costs and even legal trouble. Last quarter? What are you allowed to deduct?

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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.

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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.

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xendoo

MAY 16, 2023

Table of contents Why do businesses need receipts? Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Depending on your situation, you may need to pay IRS fees.

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xendoo

MAY 16, 2023

Table of contents Why do businesses need receipts? Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Depending on your situation, you may need to pay IRS fees.

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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. However, they can only audit each tax year once, unless you or the IRS request a new audit in writing.

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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. However, they can only audit each tax year once, unless you or the IRS request a new audit in writing.

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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.

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inDinero Tax Tips

NOVEMBER 15, 2021

If you are wondering whether legal fees are tax-deductible or need help with miscellaneous itemized deductions , this guide will give you some clarity. . Understanding Deductible Business Expenses. After subtracting deductions, you’ll only need to pay taxes for your net revenue. Are Legal Fees Tax Deductible in 2020?

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inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex.

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inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex.

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ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. Business tax preparation. That includes: Preparing federal and state income taxes. Filing quarterly employment taxes.

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LyfeAccounting

JULY 20, 2021

An operating agreement is a legal document that outlines the rights, rules, and obligations for the internal operations of your LLC. It is there to lay ground rules and procedures for how the business owners and the managers of the business will handle decisions. Open a Business Bank Account. Our Uncle Sam doesn’t play.

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inDinero Tax Tips

JUNE 7, 2023

Additionally, the funding will be used to modernize and improve the customer service experience of all tax filers who interact with the IRS. The IRS will only increase audit frequency for individuals or legal entities reporting over $400,000 in income annually. The post The IRS is spending $80 billion to close the tax gap.

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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?

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Steve Feinberg

FEBRUARY 28, 2022

Deductions can only be claimed under the right circumstances, and there are strict penalties for business owners and individuals who claim tax write-offs with no evidence that they qualify for them—and the IRS doesn’t take tax fraud lightly.

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Withum

FEBRUARY 1, 2023

After the excise tax was enacted, many feared the utilization of SPACs would decrease due to the mandatory excise tax decreasing the pro rata distributions upon liquidation and questioned a trust’s legal ability to distribute related funds to the excise tax liability.

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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.

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LyfeAccounting

APRIL 27, 2021

You might encounter administrative fees, investment fees, legal fees, and more. But of course, fees will vary based on who you choose to do business with. In our opinion, the tax benefits of the contributions and the flexibility to take advantage of Roth contributions or take loans when you need money outweigh the cons here.

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xendoo

JANUARY 26, 2023

The Internal Revenue Service (IRS) can send you a bill for penalties and additional fees. 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. Types of Penalties How Long Can You Go Without Filing Business Taxes?

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inDinero Tax Tips

MAY 24, 2023

You need to have a clear picture of what you’re spending on your business, not to mention the IRS requires documentation for all business expenses claimed on tax returns. Beyond that, certain industries, such as healthcare or businesses receiving government funding, also have legal documentation requirements.

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xendoo

JANUARY 31, 2022

The IRS Schedule C is used by sole proprietors and single-owner LLCs to report your small business taxes and is part of your personal tax return. We understand that business taxes can seem confusing, if not overwhelming. In this instance, the couple will use two Schedule C forms when filing small business taxes.

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xendoo

FEBRUARY 13, 2023

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. With some guidance, you can legally reduce your tax liability and avoid paying more than you owe. What is taxable income?

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Going Concern

NOVEMBER 10, 2023

Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. One customer says their business tax documents haven’t been filed since 2019.

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