DMCL

JANUARY 31, 2020

We are excited to announce Fraser Ross, CPA, CA as the new DMCL Office Managing Partner, effective January 1st, 2020. We are excited to announce Aaron Thompson, CPA, CMA as the new DMCL Chief Operating Officer, effective January 1st, 2020. Fraser has been a partner in our Private Enterprise group since 1999.

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LyfeAccounting

NOVEMBER 9, 2020

In this post, I’m going to explain all of the tax benefits related to LLCs. Lastly, although I am a licensed CPA, the information in this post is solely for informational purposes only. If your tax rate is 25%, then you would only pay $25,000.00 in taxes as a LLC. in W-2 wages and this puts you in a 20% tax bracket.

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Withum

MAY 4, 2022

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

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income tax New York Tax New Jersey 112

MyIRSRelief

APRIL 22, 2024

Contacting a qualified tax professional, such as a certified public accountant (CPA) or enrolled agent (EA), who specializes in audit representation can help ensure that your rights are protected throughout the audit process. Tax Preparation and Planning: Looking beyond immediate problems, Mike Habib can help prevent future issues.

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xendoo

SEPTEMBER 10, 2021

Corporate tax preparation . You can feel confident when you’re working alongside a CPA who is familiar with businesses ranging from partnerships to LLCs to S Corps and beyond. . Additionally, consulting a CPA can also help you to take advantage of existing tax codes, maximizing your deductions and ultimately saving money.

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Ronika Khanna CPA,CA

DECEMBER 2, 2022

This post and the T5 calculator have been updated to reflect If you are the owner of a Canadian corporation, you can choose to pay yourself (and other shareholders) dividends instead of a salary. Alternatively, some shareholders also take dividends in addition to a salary depending on their tax planning strategy.

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CPA Practice

JANUARY 22, 2024

If $2 million is instead allocated to personal goodwill, then this amount is taxed to the business owner as a capital gain, resulting in a savings of over $1 million because the personal goodwill is not subject to the corporate tax rate of over 30% and is taxed at the individual level only as a capital gain.

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LyfeAccounting

NOVEMBER 4, 2020

Also, please keep in mind that every business is different so it’s important that you consult your CPA for specific advice regarding your situation. Types of Business Structures and Tax Filings For Each. C-corporations are required to pay corporate tax on the profits of the business. Sound good?

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CPA Practice

JUNE 20, 2023

Outside groups including the NAACP, National Urban League, the Leadership Conference on Civil and Human Rights and UnidosUS sent a letter to lawmakers last week pressing them not to extend or expand corporate tax breaks unless they’re paired with an expanded child tax credit that’s paid in monthly installments and lacks earnings requirements.

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CPA Practice

MAY 9, 2024

trillion cost of the original Trump tax cuts — a more expansive bill which also included permanent reductions in corporate taxes. The anticipated cost of extending the tax cuts could move lawmakers to seek ways to offset the deficit impact through spending cuts or by scaling back the size of the rate reductions.

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