ThomsonReuters

MARCH 1, 2024

Itemize business deductions Like most businesses, S corps can reduce their tax burden by deducting expenses related to operation of the business. Unfortunately, IRS guidance is notoriously obtuse, so consulting a tax professional familiar with the type of business you have can help immensely.

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ThomsonReuters

JULY 6, 2023

research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do?

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KROST

JULY 15, 2021

2021 Tax Planning for Tech Companies: Employee Retention and R&D Credits By Guest Contributor Mike Kniss. Bob has 40 years of experience providing tax advice and compliance services to clients in a variety of different businesses and industries. Tax , Technology Industry. David Troost, CPA, Senior Manager.

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ThomsonReuters

MARCH 9, 2023

In this post, we will highlight 3 of our top resources included in our Tax Season Toolkit : Year-End Tax Planning for individuals and businesses, How APIs can help transform your practice, and a Case Study detailing how GoSystem Tax RS and GoFileRoom helped a firm. What’s new? •

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CPA Practice

SEPTEMBER 19, 2023

The business owners received a letter of intent on April 2015 from a buyer who would pay $92 million for their company. The business owners wished to make a contribution to utilize the type of tax planning referred to above, but only if the sale of the company actually closed or was completed.

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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

JULY 28, 2021

And we mean why not involve your kids in your business, show them the ropes, and teach entrepreneurship? All while saving thousands of dollars on taxes. We actually recommend this a lot to our clients as a strategy when they work with our tax planning services. But there are rules and a proper way to do it.

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LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? Like a lot of real estate agents, product owners, and content creators, they want to purchase a vehicle for business purposes and just write off all the expenses. ” But hold on, what if we told you, you can get it for free.

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MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC). Small-business tax credits.

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ThomsonReuters

FEBRUARY 8, 2024

Tip : The QBI also has up to a 20% deduction, calculated separately, for Real Estate Investment Trusts (REITs) and publicly traded partnerships (PTP), but there are certain limitations. Indeed, calculating QBI can be quite complex, so consultation with a tax professional is advised. It’s also surprisingly affordable.

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Withum

JANUARY 25, 2023

For example, it is not uncommon for operations to be placed in a separate business entity from real estate operations. Oftentimes, real estate operations are engaged in financing arrangements to purchase the property. Let’s Chat The post Congress Fails To Pass Key Tax Extenders, Now What?

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LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. Individual Tax Rates. Why does it matter?

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