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4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO

Ronika Khanna CPA,CA

(Expenses can also be entered directly, without a corresponding bill, through the transactions that are downloaded) Bank transactions that are entered directly through the banking section Payroll that is entered through the employee section The transactions listed above have their own separate “ledgers” since these are common transactions.

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What exactly is direct tax?

ThomsonReuters

To help companies better understand the nuances, this article will take a deeper dive into the layers of direct tax and the tools and resources to help firms better serve their clients. What is direct tax? Direct tax is a tax paid directly by the taxpayer to the government and cannot be shifted, like federal income tax.

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LLC vs. S corp: Which is right for your business and taxes? 

xendoo

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. The manager can be a member or a non-member.

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LLC vs. S corp: Which is right for your business and taxes? 

xendoo

Taxes Taxed as a pass-through entity. Subject to self-employment taxes. Taxed as a pass-through entity. Saves on payroll taxes by paying owners a salary and distributions. Instead, they pass through their tax liability to the business owners. The manager can be a member or a non-member.

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How Do I Pay Myself and My Taxes as an S-Corporation?

xendoo

When businesses are born, business owners are likely not daydreaming about taxes and payroll. Yet, they still face the unique challenge of figuring out how to pay themselves, file their taxes, and maximize their tax savings. How to Pay Yourself as an S-Corporation: Salary and Distributions. Distribution history.

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Accounting Tips for Start up Freelancers

Cheap Accounting

What taxes will I pay? Tax is paid on profits (income less allowable costs) from your business. The business structure (sole trader or limited company) that you operate under will determine the taxes that are paid. If your profit is less than that, then operating as a sole trader might be the preferred route.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered The Place to establish your corporate entity. The first state to ratify The Constitution levies a franchise tax and a gross receipts tax on companies to generate tax revenue.