xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

business tax 98

business tax Tax tax return tax preparation 98

MyIRSRelief

JUNE 23, 2023

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Contact us for professional tax help today!

Tax 130

Tax tax preparation tax return audit 130

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. This argument is misplaced.

Tax 120

Tax tax return Legal Manufacturing 120

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?

tax accountant 130

tax accountant Tax Account accountant 130

Withum

MARCH 7, 2024

The VDP allow taxpayers to keep 20% of the ERC claimed, tax free, as well as the interest received, but taxpayers must apply to the program by March 22, 2024, and agree to extend the statute of limitations. Should I File a Protective Income Tax Refund Claim? To prevent this, taxpayers can file a protective income tax refund claim.

Tax 127

Tax income tax tax return audit 127

Withum

JANUARY 16, 2024

We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need. For the 2023 taxable year, a 179 expense of $1.16

Tax 119

Tax Tennessee New Jersey Massachusetts 119

Going Concern

APRIL 5, 2024

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.

tax preparation 96

tax preparation tax return New Jersey Tax 96

CPA Practice

NOVEMBER 22, 2023

KBKG , a provider of tax services for CPAs and businesses, has identified three changes that the IRS has implemented; each one could have strong impacts on businesses. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG.

Tax 110

Tax cpas tax services audit 110

Withum

FEBRUARY 1, 2024

7024, Tax Relief for American Families and Workers Act of 2024 , by a wide bipartisan vote of 357 to 70 yesterday evening. The refundable child tax credit would continue to increase by $100 per year through Dec. The refundable child tax credit would continue to increase by $100 per year through Dec. Taiwan tax provisions.

Tax 124

Tax Finance tax services business tax 124

Withum

SEPTEMBER 1, 2023

On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period.

Tax 98

Tax tax return Florida payroll 98

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.

Tax 100

Tax income tax tax return business tax 100

PYMNTS

FEBRUARY 6, 2020

Business information firm Thomson Reuters is teaming up with global tax company KPMG to offer Australia businesses a solution to deal with fringe benefits taxes (FBT), Thomson Reuters announced Thursday (Feb. The ONESOURCE FBT software automates the tax calculations necessary to file an FBT return. “Our

business tax 52

business tax Tax Technology income tax 52

inDinero Accounting

JANUARY 22, 2024

In this article, we’ll explain the GAAP-compliant method of reporting deferred revenue, provide bookkeeping examples, and explain how the practice will impact your taxes. Deferred Revenue Tax Treatment Deferred Revenue Example Deferred Revenue Journal Entry FAQs About Deferred Revenue Indinero’s business tax services are here to help.

accounting principles 102

accounting principles accrual accounting Tax Account 102

Withum

JANUARY 12, 2023

The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. The current list of eligible localities is always available on the Tax Relief in Disaster Situations page on IRS.gov. Contact Us. Let’s Chat.

California 122

California Tax tax return payroll tax 122

Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. The IIJA lowered this threshold to 20%.

Tax 122

Tax Manufacturing tax return tax services 122

Withum

JANUARY 31, 2024

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

Rhode Island 73

Rhode Island income tax Tax tax return 73

CPA Practice

OCTOBER 2, 2023

There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG. This impacts the Sec.

Tax 106

Tax cpas audit tax services 106

Withum

MAY 19, 2022

If you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. What Is the Fix?

Tax 125

Tax tax return payroll tax tax services 125

CPA Practice

OCTOBER 3, 2023

There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season. Those still looking to file an ERC claim can continue to do so under the strict guidance of the IRS and through a certified tax professional, like KBKG. This impacts the Sec.

Tax 103

Tax cpas audit tax services 103

Withum

FEBRUARY 28, 2023

If computers can beat a world chess champion, they argue, why can’t they perform as good as or better than my local tax advisor? We’ll explore this issue in more detail below, but the short answer is no, artificial intelligence is not at the point where it can analyze tax issues and reliably produce accurate responses.

Tax 122

Tax tax services business tax 122

xendoo

JANUARY 31, 2022

New Year, New Tax Requirements. In the past, although all business owners were required to report their earnings on their Federal Tax Returns , only those who received payments of $20,000 or more through payment apps also reported their earnings using Form 1099-K. Will this new rule apply to your business? What Changed?

Tax 105

Tax bookkeeping tax return business tax 105

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

Tax 98

Tax tax return income tax audit 98

CPA Practice

JANUARY 18, 2024

In today’s fast-paced world, you are constantly juggling between client needs, regulatory demands, and staying abreast of ever-changing tax laws. 10 Quick Tips Here are 10 quick tips to market your services efficiently, even when time is a luxury you don’t have. Helping [your niche] stress less this tax season! Inflation Pinch?

CPA 111

CPA income tax quickbooks Tax 111

Withum

JUNE 6, 2022

This second point is particularly helpful to selling shareholders who want clarity on whether their business is a QTB so they can calculate how much tax will be due on their sale of stock. Conversely, if the business is not a QTB, then the shareholder will owe federal income tax of roughly $2,380,000 ($10 million times 23.8%).

Tax 127

Tax income tax Pharmaceutical Manufacturing 127

inDinero Tax Tips

NOVEMBER 7, 2023

If you know how to use net operating losses to your advantage, you can strategically time investments to save money on your taxes. In this guide, we’ll present the rules and limitations of net operating losses and demonstrate how to use them to save money and grow your business. Not to worry. What is a Net Operating Loss?

accrual accounting 105

accrual accounting Tax accounting and finance tax services 105

ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

Withum

SEPTEMBER 22, 2022

The IRS ruled that the PPP loan forgiveness amount is not tax-free, even if the SBA and lender granted the borrower full loan forgiveness, if the taxpayer did not satisfy the factual requirements for loan forgiveness. The rest of the analysis in the CCA is a relatively straightforward application of the tax law. Contact Us.

Tax 125

Tax payroll audit tax services 125

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. CFO services?

Tax 52

Tax tax preparation business tax bookkeeping 52

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. What is Form 3800?

Tax 52

Tax tax preparation business tax income tax 52

Withum

SEPTEMBER 2, 2022

New York City’s tax code was amended on August 31, 2022, to harmonize a number of the City’s provisions with New York State. The enacted legislation aligns New York City with New York State’s economic nexus provisions, now applying a factor-based standard, for tax years beginning on or after January 1, 2022. Let’s Talk. Contact Us.

New York 83

New York Tax tax return corporation tax 83

Withum

MAY 16, 2022

Favorable rules, which were put into place for taxable years after 1992, could allow the cancellation of debt income to be deferred for federal income tax purposes even if the taxpayer is not in bankruptcy or insolvent—as is normally the case. Business Tax Services. Contact Us. Contact Us.

Real Estate 131

Real Estate Tax income tax tax return 131

Withum

JUNE 8, 2022

The IRS’ “Dirty Dozen ” is an annual list warning taxpayers of abusive tax arrangements, schemes, scams, and shams. If challenged by the IRS, accuracy-related and civil fraud penalties could amount to 75% of any underpayment of tax. Business Tax Services. What if I do nothing? Contact Us. Contact Us.

Sales 120

Sales tax services business tax audit 120

Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. PPP EIDL ERC FFCRA SVOG R R F. Paycheck Protection Program (PPP).

Tax 126

Tax tax return income tax corporation tax 126

inDinero Tax Tips

JUNE 7, 2023

Recently, the agency revealed they’ll use some of those funds to hire thousands of agents to audit the filings of wealthy individuals and corporations to close “the tax gap.” Let’s look closer at where these funds will go and what implications the changes may have for taxpayers and business owners. How Will the IRS Use the $80 Billion?

Tax 52

Tax tax return audit income tax 52

Snyder

NOVEMBER 10, 2022

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. What is tax software? Online tax preparation + IRS forms.

tax preparation 52

tax preparation Tax tax return accounting software 52

Withum

JUNE 29, 2023

Ryan Brandt is a seasoned tax compliance expert specializing in manufacturing, distribution and logistics, real estate, cannabis and private client services. Devin Desmond is an expert in audits of insurance organizations and not-for-profits and is a leader on the Firm’s Not-for-Profit Tax Team.

audit 106

audit E-commerce Real Estate Healthcare 106

Withum

JUNE 24, 2022

One unfortunate side effect of the ERC explosion has been the proliferation of tax credit companies offering dubious advice in exchange for outsize fees. The memos are so generic that they would not even qualify as tax advice that clients can rely on to assert a reasonable cause defense to penalties.

Tax 126

Tax audit tax return tax services 126