CPA Practice

SEPTEMBER 6, 2023

According to court documents and statements made in court, Sheryl Clanton of Bucyrus, Kansas, owned and operated McCorkendale Construction Inc., a business specializing in the construction and maintenance of underground infrastructure. million in employment taxes or file quarterly payroll tax returns as required by law.

Kansas 52

Kansas Tax payroll tax Construction 52

CPA Practice

NOVEMBER 27, 2023

The Augusta Rule, known as Section 280A by the Internal Revenue Service, allows homeowners in any income bracket to rent out their homes for up to 14 days without the obligation to report the rental income as taxable on their tax return.

tax planning 98

tax planning Tax income tax tax return 98

Mark Lee

APRIL 9, 2024

The primary driver for many clients to engage an accountant is a perceived need for help to satisfy their legal obligations to prepare and file accounts and tax returns. The DIY tax surge There is already a growing trend for ‘simpler’ clients to try to prepare and file tax returns themselves.

Account 104

Account accountant accounted tax return 104

Randal DeHart

APRIL 1, 2022

They will likely find more deductions that can save you money and, in some cases, mean the difference between success and failure in your construction company. Because the QuickBooks file is clean, the Tax Accountant will have fewer questions for you.

quickbooks 77

quickbooks Tax Construction tax return 77

ThomsonReuters

MAY 26, 2022

In addition, the opportunity to elect such contributions usually raises the concern that eligible employees might be taxed on income that could have been donated because the ability to make a donation triggers “constructive receipt.”. see our Checkpoint article ), this notice addresses both tax issues.

Tax 97

Tax Construction income tax tax return 97

ThomsonReuters

AUGUST 19, 2021

Several have asked about making HSA contributions on a pre-tax basis so they can receive income tax savings every payroll period (instead of waiting until they file their tax returns) and avoid paying FICA taxes on those contributions. Our company could also save its share of FICA taxes on the contributions.

payroll 105

payroll Tax income tax tax return 105

CPA Practice

MARCH 10, 2023

million construction loan with Brother B. The construction loan funds were used to build a house and a separate guest house on the property. Brother A made a $392,896 down payment and, along with his wife, obtained a $1,143,750 bank loan from Wells Fargo. In addition, the couple took out a $1.2

Tax 98

Tax income tax Arizona Construction 98

TaxConnex

MAY 11, 2021

Colorado alone has 73 home-rule jurisdictions each requiring their own sales tax return to be filed. Don’t get tripped up by specialty tax rates (non-sales tax rates). When reporting sales tax, most taxpayers will build their compliance process to file and remit the tax that was collected from the customer.

Sales 131

Sales Tax Colorado tax return 131

Reckon

JUNE 13, 2022

The purpose of completing a BAS form is to report the goods and services tax amount you’ve collected on your sales, minus any that you’ve paid on your purchases with the difference being your refund—or what you owe—to the ATO since your last lodgement. 31 October: Individual tax returns due for 2021-22. August 2022.

Tax 98

Tax tax return income tax Start-ups 98

Reckon

JUNE 22, 2023

You can lodge your 2022/23 tax return from now until 31 October. 28 August: If you did not pay your contributions earlier (to receive the 30 June tax deduction) this is the final date to lodge and pay your Q4 (1 April–30 June) Superannuation Guarantee Charge Statement. 31 October: Individual tax returns are due for 2022-23.

tax return 52

tax return income tax Tax bookkeeping 52

MyIRSRelief

MAY 1, 2024

Construction Trades: Smaller construction companies specializing in renovations, repairs, landscaping, or electrical work can be highly successful with a team of skilled workers. 1120S (S Corporations): S corporations offer pass-through taxation, where corporate income is passed directly to shareholders’ personal tax returns.

Tax 130

Tax tax planning audit Non-Profits 130

ThomsonReuters

JULY 6, 2023

In today’s competitive business landscape, accounting advisory means much more than simply preparing tax returns or compiling financial statements. If a client comes to you with a question that goes beyond the scope of their tax return , consider that an opening into a new career. Is accounting advisory a good career?

Account 98

Account accountant accounted accounting and finance 98

Withum

AUGUST 24, 2023

The base energy project 6% can be increased to 30% if the project:  has a maximum net output of less than 1 megawatt of electrical (as measured in alternating current) or thermal energy,  construction began before January 30, 2023, or  meets the prevailing wage and apprenticeship requirements. 

Tax 52

Tax Construction income tax Non-Profits 52

Withum

AUGUST 7, 2023

A taxpayer must ensure that the applicable percentage of the total labor hours of the construction, alteration, or repair work (including such work performed by any contractor or subcontractor) concerning the charging station project is performed by qualified apprentices. How Do I Claim a Qualified Charging Station Federal Income Tax Credit?

income tax 52

income tax Construction Non-Profits Transportation 52

ThomsonReuters

JULY 6, 2023

Some accounting firms choose to focus on serving a particular niche, like construction or M&A advisory , given they are familiar with the related business landscape. Overall, business advisory services take your firm beyond the tax return and into the world of becoming a trusted and strategic partner to the clients you serve.

accounting firms 98

accounting firms Account accountant accounted 98

Dent Moses

MARCH 21, 2024

million in 2024, either during their lifetimes or at death, without incurring federal gift or estate tax. It’s crucial to file a timely estate tax return to elect the portability of the deceased spouse’s unused exemption to the surviving spouse.

tax planning 52

tax planning Tax tax return Construction 52

Dent Moses

DECEMBER 13, 2023

The Internal Revenue Service (IRS) released final regulations on February 21, 2023, requiring organizations to electronically file specified returns and other documents. Organizations filing 10 or more IRS returns of any kind in aggregate will need to file almost all required returns electronically.

tax return 52

tax return income tax Tax Construction 52

CPA Practice

JULY 11, 2023

He provides accounting and assurance services to both public and privately held companies, primarily those within the construction and manufacturing sectors. Ryan is a member of the firm’s Construction Industry Group and serves as the firm’s subject matter expert related to Topic 606 Revenue Recognition for companies within that sector.

Real Estate 52

Real Estate West Virginia Construction Manufacturing 52

Withum

FEBRUARY 22, 2024

179D”), now permanent, pertains to commercial building energy-efficient tax deductions that provide potential ongoing tax benefits for architecture, engineering, and construction companies. 179D allows an alternative method for immediate tax deductions. 179D tax deduction on EECBP: It is depreciable property.

Real Estate 52

Real Estate Tax Construction CPA 52

CTP

AUGUST 11, 2022

If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. It can provide valuable insights such as data extracted from your tax returns, calculation of minimum required estimated tax payments, and even a few tips to save annual tax. .

tax planning 98

tax planning Tax tax return Construction 98

Cherry Bekaert

FEBRUARY 7, 2024

Taxation Considerations Similar to S corps, LLCs (and partnerships) are considered “pass-through” entities in which a business’s income and expenses flow through to the partners and are reported on the partners’ personal income tax returns. This means that the partnership does not pay income tax.

Real Estate 103

Real Estate Tax income tax Legal 103

ThomsonReuters

MARCH 17, 2021

The IRS has issued new Form 8915-E, which individual taxpayers must file with their income tax returns to report coronavirus-related distributions and other qualified 2020 disaster distributions received from retirement plans in 2020, as well as 2020 repayments of those distributions. Instructions. Form 8915-B. Instructions.

Construction 93

Construction Maine income tax Tax 93

Cherry Bekaert

MAY 6, 2024

Generally, taxpayers must identify the replacement property within 45 days of selling the relinquished property and then acquire the replacement property within 180 days of the sale transaction or by the due date of the tax return. Additionally, these transactions require the use of a qualified intermediary to facilitate the exchange.

Real Estate 52

Real Estate Delaware Tax tax return 52

Xero

AUGUST 11, 2022

You will need to use this UTR number to submit tax returns, pay tax bills, or work with an accountant. Meanwhile, self-employed people under the Construction Industry Scheme (CIS) will need a UTR number to register for a tax refund. HMRC automatically issues a UTR number when you register for self-assessment.

income tax 78

income tax Tax tax return tax accountant 78

CPA Practice

JULY 24, 2023

million in taxes. According to court documents, Lohrasb “Jeff” Jafari, 72, of Alpharetta, Georgia, was the executive vice president of PRAD Group, an architectural, design, and construction management firm headquartered in Atlanta that performed services for the City of Atlanta and DeKalb County.

Georgia 98

Georgia Tax income tax tax return 98

CTP

AUGUST 11, 2022

The answer to this question may be a similar situation to a semi-regular TikTok viewer of DIY household construction projects. If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software.

tax planning 52

tax planning Tax tax return Construction 52

Mark Lee

APRIL 23, 2024

What they are really buying is someone to deal with their legal obligations to prepare and file accounts and/or tax returns, someone to provide advice on specific issues and who can provide them with good feelings and solutions to their problems. The best approach invites constructive criticism, comments, and feedback suggestions.

Account 52

Account accountant accounted tax return 52

CPA Practice

MARCH 8, 2023

Survey respondents operate in nearly a dozen different industries, including: Telecommunications Oil and gas Insurance Finance Healthcare Construction Manufacturing Lodging and Hospitality Beverage alcohol Retail Business professional services The data included in this blog post represents the findings specific to enterprise companies.

Tax 105

Tax Technology accounting and finance tax return 105

Inform Accounting

JULY 4, 2022

constructive feedback and advice to the trainee. Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Remember to declare COVID-19 grants on your tax return. Taxing cryptoassets: what you need to know. See: Traineeship information for employers - GOV.UK (www.gov.uk).

tax return 52

tax return Construction Government Education 52

CPA Practice

JUNE 19, 2023

A solution can be employing an aggressive tax-loss harvesting strategy with other money in your portfolio, booking the losses and using the losses to offset the capital gain from selling the REIT. Unused losses in the current year can be carried forward indefinitely on your federal tax return (state rules vary).

Tax 111

Tax Real Estate income tax Legal 111

Dent Moses

DECEMBER 19, 2022

To claim a tax deduction, the donor must receive the CWA before the earlier of (1) the date the donor’s tax return is filed or (2) the due date for filing the tax return.

tax return 52

tax return Tax Construction Account 52

Menzies

AUGUST 17, 2023

To determine at what rate the gain is taxed at when you complete the report you will be asked what your anticipated income for the tax year will be. Within the capital gains tax pages, you will need to include the property disposal along with any other gains and losses made in the year.

Tax 52

Tax tax return chartered accountant Maine 52

Going Concern

SEPTEMBER 1, 2023

in accounting [ Accounting Today ] The biggest gains occurred in the health care, leisure and hospitality, social assistance and construction industries. The professional and business service sector added 19,000 jobs, including 2,700 in accounting, tax preparation, bookkeeping and payroll services.

Account 110

Account accountant accounted audit 110

Cheap Accounting

NOVEMBER 29, 2021

Many self-employed people (AKA sole traders) who complete a Self-Assessment tax return for the first time are left somewhat baffled when their tax bill is much bigger than expected. It happens because after they file their first Self-Assessment tax return, they find out they need to make a “ payment on account ”. .

Account 49

Account accountant accounted tax return 49

xendoo

JUNE 25, 2021

Building construction. Your first tax return shows the IRS which one you chose in the beginning — you don’t have to submit any forms for that.). It will save you many hours of work when you need to measure performance, generate a report, locate past transactions, or prepare tax returns. Property management.

Real Estate 98

Real Estate Account accountant accounted 98

Xero

MARCH 7, 2023

Alex talks accounting As for the accounting industry as a whole, Alex tells us misconceptions remain: “If you spoke to a sixth form student and asked them to write an accounting job spec, they’d write what it used to be – sat in front of a computer doing tax returns. It’s not like that anymore, it’s about client relationships.”

Account 86

Account accountant accounted tax return 86

Withum

JUNE 24, 2022

The IRS is expected to begin auditing ERC claims in the coming months and it has 3 years from the filing date of the relevant Form 941 tax return to assert deficiencies, and 5 years in the case of ERC claims for the third and fourth calendar quarters of 2021 ( see §3134(l) ).

Tax 126

Tax audit tax return tax services 126