RogerRossmeisl

NOVEMBER 9, 2023

They generally do research about specific industries and issues on tax returns by using IRS Audit Techniques Guides (ATGs). In other words, your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations.

auditor 130

auditor audit tax return Construction 130

TaxConnex

AUGUST 9, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax holidays fail to live up to the hype. in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Several states tinkered with their sales tax exemptions this summer. Holiday hucksterism? Free for all.

Sales 130

Sales Louisiana Tax Iowa 130

CPA Practice

NOVEMBER 27, 2023

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. Instead and Instead Pro offer seamless Augusta Rule savings estimation to help plan, calculate, document and file a return.

tax planning 98

tax planning Tax income tax tax return 98

Cherry Bekaert

MAY 6, 2024

Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. By deferring capital gains taxes, sellers can potentially reduce their tax burden and reinvest in new opportunities.

Real Estate 96

Real Estate Delaware Tax tax return 96

CPA Practice

SEPTEMBER 12, 2023

A Kansas woman pleaded guilty on Sept 1, 2023, to willfully failing to account for and pay over employment taxes to the IRS. According to court documents and statements made in court, Sheryl Clanton of Bucyrus, Kansas, owned and operated McCorkendale Construction Inc., In total, Clanton caused a tax loss to the IRS exceeding $2.2

Kansas 52

Kansas Tax payroll tax Construction 52

CPA Practice

SEPTEMBER 6, 2023

A Kansas woman pleaded guilty on Sept 1, 2023, to willfully failing to account for and pay over employment taxes to the IRS. According to court documents and statements made in court, Sheryl Clanton of Bucyrus, Kansas, owned and operated McCorkendale Construction Inc., In total, Clanton caused a tax loss to the IRS exceeding $2.2

Kansas 52

Kansas Tax payroll tax Construction 52

TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. Returns are typically due either monthly, quarterly, or annually. Know your Deadlines. Due dates also vary.

Sales 131

Sales Tax Colorado tax return 131

Going Concern

MAY 16, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 59

Real Estate Account accountant accounted 59

CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

Tax 128

Tax Kansas income tax Montana 128

CPA Practice

MARCH 10, 2023

Recent tax legislation has tightened up the rules, but qualified borrowers may still be entitled to generous write-offs. Typically, this is one of the biggest deductions on a personal return. million construction loan with Brother B. Tax outcome : The Tax Court sided with the IRS. The IRS disallowed the deduction.

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Tax income tax Arizona Construction 98

Cherry Bekaert

FEBRUARY 7, 2024

Understanding business entities and tax structures can save you a tremendous amount of time, money and potential headaches down the road. An LLC is one of four main legal business structures, whereas an S corp is a tax classification. This means that the partnership does not pay income tax. That rate is the sum of 12.4%

Real Estate 103

Real Estate Tax income tax Legal 103

CPA Practice

JUNE 19, 2023

By Michael Aloi, CFP, Kiplinger Consumer News Service (TNS) I never recommend an investment solely for the tax benefits. If an investment makes sense as part of a diversified portfolio and can provide tax benefits, then it is a win-win. But it’s the tax advantages of real estate investment trusts that I want to focus on here.

Tax 111

Tax Real Estate income tax Legal 111

Randal DeHart

APRIL 1, 2022

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. Because the QuickBooks file is clean, the Tax Accountant will have fewer questions for you.

quickbooks 80

quickbooks Tax Construction tax return 80

Menzies

MAY 7, 2024

The distinction between capital and revenue expenditure for tax purposes can be difficult to make. As always, if you are unsure then we recommend that you consult a tax advisor. Why this is relevant to UK tax? Tax relief for revenue expenditure is given in the tax year that it is incurred.

tax return 52

tax return Construction chartered accountant Tax 52

ThomsonReuters

MAY 26, 2022

The IRS has announced special tax relief for leave-based donation programs set up by employers to aid victims of the “further Russian invasion of Ukraine” that began on February 24, 2022. see our Checkpoint article ), this notice addresses both tax issues. IRS Notice 2022-28 (May 19, 2022). Available at [link].

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Tax Construction income tax tax return 97

Dent Moses

MARCH 21, 2024

For the past five years, taxpayers have enjoyed historically high gift and estate tax exemptions, thanks to the Tax Cuts and Jobs Act of 2017. million in 2024, either during their lifetimes or at death, without incurring federal gift or estate tax. How many estate tax returns are filed annually, and how much tax is paid?

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tax planning Tax tax return Construction 52

CPA Practice

MARCH 8, 2023

Anyone who deals with property tax knows firsthand how complex it can be to manage, especially given how tax laws differ not only between states but even among local jurisdictions within the same state. Ask three organizations how they manage their property taxes, and you’ll get three different answers.

Tax 105

Tax Technology accounting and finance tax return 105

Reckon

JUNE 13, 2022

EOFY 2022 is coming up fast which means tax time is looming…. If you’re a business owner, the ATO requires entities of all sizes to file their tax documentation before 30 June 2022. Key tax dates. 25 June : (If lodging electronically) tax agents must lodge and pay their 2022 Fringe Benefits Annual Tax Return.

Tax 98

Tax tax return income tax Start-ups 98

Withum

FEBRUARY 22, 2024

The act expands existing clean energy tax credits and enhances tax deductions to further incentivize the development and use of clean energy products and technologies. 179D allows an alternative method for immediate tax deductions. The modified legislation also allows specified tax-exempt entities to allocate any Sec.

Real Estate 52

Real Estate Tax Construction CPA 52

CTP

AUGUST 11, 2022

Have you asked yourself, do I really have to study tax planning? 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! I’ve even got the pictures to prove it! .

tax planning 98

tax planning Tax tax return Construction 98

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

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

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

CPA Practice

FEBRUARY 27, 2024

Local public officials are trapped in a no-win situation, which pits their residents’ love for local teams against the perverse economics of tax-privileged stadium financing. The team owners love being tenants, and especially love it when the rents they pay are chiseled lower by the use of tax-exempt bonds issued by public agencies.

Sports 98

Sports Tax income tax Non-Profits 98

Xero

AUGUST 11, 2022

Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). The government legislation with the goal of digitising the tax process has been underway for some time, and the next step is looming large on the horizon.

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. million in taxes. Polite, Jr.

Georgia 98

Georgia Tax income tax tax return 98

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. However, there are many types of business tax credits and the IRS has strict eligibility requirements.

business tax 52

business tax Tax tax return income tax 52

Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

tax planning 98

tax planning Tax Construction income tax 98

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

Sales 98

Sales Tax Michigan Washington 98

CTP

JANUARY 22, 2024

What does it look like to operate ethically in the world of tax planning? Circular 230 regulations are intended for those who “practice” before the IRS, but the ethical standards of conduct can apply to any tax professional. Say the company itself wants to hire you to do its yearly tax plan. This would be a conflict of interest.

tax planning 52

tax planning Tax tax return Construction 52

Cherry Bekaert

JULY 25, 2023

The Inflation Reduction Act (IRA) provided two new mechanisms to facilitate the utilization of certain clean energy tax credits that were authorized and expanded by the IRA. The elective pay provisions are available for tax years ending after December 31, 2022, and are claimed on the income tax return that claims the underlying credit.

Tax 59

Tax income tax tax return Manufacturing 59

Dent Moses

APRIL 22, 2024

If you are still writing checks to make tax payments, there is a much better (and safer) alternative. A process to verify your identity requires access to a previous tax return. This may be overkill for small payments but certainly not for more significant balances due or estimated tax payments.

Alabama 40

Alabama Tax tax return Account 40

CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? 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.

tax planning 52

tax planning Tax tax return Construction 52

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

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. How coronavirus hit commercial real estate – GREEN STREET ADVISORS.

Real Estate 131

Real Estate Tax income tax tax return 131

Menzies

AUGUST 17, 2023

UK residents disposing of residential property where a chargeable gain arises need to report and pay any Capital Gains Tax (CGT) due within 60 days of completion of the sale. You may need to seek guidance from your accountant or tax advisor on which expenses can be deducted. Menzies LLP - A leading chartered accountancy firm.

Tax 52

Tax tax return chartered accountant Maine 52

MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

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Tax CPA Education business tax 100