RogerRossmeisl

FEBRUARY 13, 2024

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. That translates into a 0% federal income tax rate on QSBC stock sale profits! The post Tax-Favored Qualified Small Business Corporation Status Could Help Your Thrive appeared first on Roger Rossmeisl, CPA.

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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. . What is a tax deduction?

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CTP

JANUARY 16, 2024

As 2024 kicks off, so do new legal requirements for small businesses. The Corporate Transparency Act took effect on January 1st, which means that many businesses will need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). Tax Identification Numbers.

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Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. What is a 100% tax deduction?

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Withum

MARCH 12, 2024

The cannabis tax community is abuzz with rumor and delight. The giddiness stems from a recent announcement by a publicly traded cannabis company that it obtained large tax refunds from the IRS, even though the company has been tightlipped about the reason for the refunds.

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Ronika Khanna CPA,CA

DECEMBER 28, 2023

As we approach the new year, it will be time soon to start working on everyone’s favourite activity i.e. getting your tax stuff in order :). Below are the deadlines that all small businesses need to know for 2024. Download our free Canada unincorporated business tax deadline calendar for 2024 (both Federal and Quebec).

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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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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA.

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MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

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inDinero Tax Tips

MAY 10, 2023

Tracking expenses and claiming all of the small business tax deductions you’re eligible for can add up to substantial savings, especially for start-ups that reinvest aggressively as they scale. Many popular tax software are, of course, designed to help you through these startup tax deductions.

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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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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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CPA Practice

APRIL 24, 2023

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities. However, the legally binding partnership agreement may outline a different partnership equity.

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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn.

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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inDinero Tax Tips

MARCH 31, 2021

Tax season is here. Did you remember to make estimated tax payments? Are you aware of all the tax deductions for your side hustle? Extra income earned may require additional tax payments throughout the year, otherwise known as estimated tax payments. What are estimated taxes for side hustlers?

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CPA Practice

MAY 10, 2023

New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. The move has been touted as something that can help smaller operators even more.

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RogerRossmeisl

MAY 30, 2022

Adding a new partner in a partnership has several financial and legal implications. Not as simple as it seems Although the entry of a new partner appears to be a simple matter, it’s necessary to plan the new person’s entry properly in order to avoid various tax problems. Here are two issues to consider: First, if there’s a change.

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Ronika Khanna CPA,CA

JANUARY 27, 2023

and it is time for business owners (and individuals) to start thinking about one of their favourite subjects i.e. taxes. I have compiled a list of the deadlines that all of you should know and also updated my annual business tax deadline calendar. These deadlines relate to unincorporated business owners.

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Withum

FEBRUARY 6, 2023

It’s that time of year – welcome to your tax season activities. Struggling With Tax Compliance and Data Management? Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns. Contact Us Good News!

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CTP

JANUARY 16, 2024

As 2024 kicks off, so do new legal requirements for small businesses. The Corporate Transparency Act took effect on January 1st, which means that many businesses will need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). Tax Identification Numbers.

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MyIRSRelief

OCTOBER 18, 2021

If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? Here’s a look at several different types of IRS federal tax credits and at whether or not you could be eligible. Earned income tax credit.

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CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Legal marijuana businesses are an enforcement priority of the IRS.

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Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules.

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LyfeAccounting

DECEMBER 28, 2020

Do you want to know how the rich get away with paying little to no taxes, while many others overpay on their taxes? Well here it is – Tax Credits and Tax Incentives! If you’re anything like me, I’m sure you’ve heard all of these stories about how Jeff Bezos or Donald Trump pays almost little to no taxes.

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VetCPA

MARCH 16, 2022

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership.

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LyfeAccounting

NOVEMBER 10, 2020

And if you own a home-based small based business or thinking about starting one, I can see why. And best of all, you get to save on taxes. That’s right, if you’ve carved out a portion of your home for business use, you can claim more than a handful of tax advantages and deductions. about… now. about… now.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes?

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Ronika Khanna CPA,CA

JANUARY 3, 2022

With the beginning of a new year upon us, tax submission deadlines for individuals and businesses are starting to loom. Every small business owner must adhere to these deadlines or risk facing penalties for late filing of returns plus interest on any overdue balances. Learn more. Available at Amazon.

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PYMNTS

JANUARY 29, 2019

Paying business taxes is a key source of friction for many legal marijuana companies in the nation, particularly for companies that operate on a cash-only basis. Under the state’s tax rules, prescription drug sales are exempt from gross receipt taxes. Most of those companies were forced to pay taxes in cash.

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CPA Practice

OCTOBER 6, 2023

Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.

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LyfeAccounting

OCTOBER 21, 2020

?. In federal taxes you owe $78,435.72. Look, those were like your tax liabilities from last year. 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. Because like clockwork, taxes come due every year.

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CTP

OCTOBER 2, 2023

Every year countless taxpayers overlook money-saving opportunities in the form of tax credits. This provides tax professionals with an opportunity to look like magicians as we whip money-saving strategies out of our proverbial hats in the form of readily available credits that our clients may have never heard about.

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Read on to find out.

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CPA Practice

AUGUST 3, 2023

Supreme Court has agreed to hear a landmark tax law case this fall, highlighting again the ever-changing extreme complexity of federal tax law. The case underscores an unfortunate reality: Businesspeople need a tax mitigation plan just as critically as they do a financial plan, a succession plan or an estate plan.

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ThomsonReuters

DECEMBER 19, 2023

Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? To encourage this shift, the IRS offers a range of renewable energy tax credits for alternative energy sources like solar, wind, and geothermal power.

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CPA Practice

JUNE 21, 2023

One crucial aspect of wealth management is creating a holistic financial plan that includes your estate and tax strategy. By employing effective estate and tax strategies, business owners can optimize their financial legacies and minimize tax hurdles. Here are four strategies to consider adding to your financial plan.

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