CPA Practice

APRIL 8, 2024

Bloomberg Tax & Accounting has launched its next generation suite of integrated solutions that modernize the corporate tax process, from data collection to tax calculations that power key deliverables. Bloomberg Tax changes the way tax professionals source and prep data using automation.

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ThomsonReuters

FEBRUARY 9, 2024

For corporate tax professionals, the emergence of ambient AI promises a future where ordinary tasks become extraordinary, and the unnoticed becomes an essential part of their work experience. Wong forecasts that in the next year, AI assistants will become more deeply integrated into the daily work of corporate tax professionals.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. Are you really doing everything you can to reduce your tax burden? How are S corporations taxed? When are S corps taxes due?

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Accounting Today

MARCH 15, 2024

Tax filing season can be an extremely trying time for corporate tax and accounting professionals as they have to navigate countless forms and compile extensive amounts of information without errors.

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ThomsonReuters

MARCH 6, 2024

In the corporate tax space, just as the regulatory compliance landscape becomes more challenging and reporting requirements become more demanding, technology is advancing rapidly to crunch vast amounts of data in no time and streamline labor-intensive processes. AI is adept at supporting both.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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MyIRSRelief

JULY 17, 2023

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. Section 1: The Importance of Tax Planning 1.1. Section 2: Tax Planning for Individuals 2.1.

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ThomsonReuters

APRIL 21, 2024

For corporate tax professionals, navigating the ever-evolving landscape of tax codes and regulations is often a daunting task. This straightforward task becomes a monumental challenge when dealing with complex tax codes, global operations, and time constraints. To illustrate the scale of the challenge, in the U.S.

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Menzies

APRIL 4, 2023

To allow HMRC to check that the correct amounts of tax have been paid by taxpayers, they have been afforded formal legal powers to request information and documents from taxpayers. Taxpayer safeguards Paragraph 21 lists only four scenarios where HMRC are able to make an information request under Schedule 36.

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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.

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TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. Back to court.

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ThomsonReuters

JULY 6, 2023

Tax teams prepare tax provisions by gathering data, performing calculations, and entering the results into forms. However, corporate tax teams find it difficult to automate this process. What are the benefits of tax provision software? How can tax provision APIs streamline calculations?

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xendoo

JANUARY 25, 2021

Wage and Tax Statement for Full- and Part-Time Employees). Information Return by Employers to the IRS on Form 1099s Issued to Independent Contractors). S Corporation Tax Filing. for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year).

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ThomsonReuters

DECEMBER 22, 2023

As emerging technologies continue to reshape industries, tax departments are not exempt from the transformative power of innovation. In this era of rapid change, corporate tax professionals must stay ahead of the curve and leverage the latest tools and strategies to navigate the complex landscape of tax compliance.

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Ronika Khanna CPA,CA

APRIL 19, 2024

Residents of Canada are required to reflect all sources of worldwide income on their personal tax returns. not TFSA, RRSPs or FHSAs), to ensure that you have received all tax documents and report them. If you do make a withdrawal during the year, you will receive a T4RSP slip which is to be reported on your tax return.

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Ronika Khanna CPA,CA

MAY 26, 2023

While submitting your tax return is accompanied by a significant sense of relief, one cannot completely relax until you receive the notice of assessment from Revenue Canada (and Revenue Quebec for those of you lucky enough to file two tax returns). It also provides information pertaining to future years.

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Withum

JANUARY 5, 2024

The NYC Biotechnology Tax Credit offers a valuable financial incentive to investors and owners of qualified biotechnology companies. This credit can offset various taxes including business corporation tax, general corporation tax, and unincorporated business tax.

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ThomsonReuters

OCTOBER 24, 2023

Data is king in today’s fast-paced world of finance and tax. Yet, for many companies, the journey of data from disparate sources to financial close, tax returns, and reporting can be torturous. Fortunately, tax departments are not powerless. based CFO Consultants, in a blog post. based CFO Consultants, in a blog post.

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ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. Other deadlines are: January 17, 2022 : 4th quarter 2021 estimated tax payment due.

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ThomsonReuters

JANUARY 30, 2023

As the burden of corporate tax compliance mounts, companies are increasingly turning to tax and accounting firms for help in complying with direct tax requirements. How can direct tax software help tax reporting?

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ThomsonReuters

MARCH 4, 2024

Preparers have the following perfection periods to correct and retransmit tax returns or extensions that were filed on time but were rejected by the filing deadline. What is the e-file rejection grace period for federal tax returns? What is the e-file grace period for state returns?

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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. For more information, see our article on this change in law.

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Xero

MARCH 16, 2023

That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. Preparing your final pay run Before you reach your final pay run for this tax year, there are a few important tasks needed to get you there.

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CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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Inform Accounting

JUNE 27, 2022

Following the increase in the Bank of England base rate to 1.25% earlier this week, HMRC has confirmed that it will raise interest rates on late tax bills by a further 0.25%. The corporation tax pay and file rate also increases to 3.75%. Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

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CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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ThomsonReuters

JANUARY 19, 2023

Leveraging a powerful workflow engine can deliver the intelligent tax automation , control improvement, and greater visibility tax teams need to make more strategic decisions, mitigate risk, and successfully orchestrate the entire direct tax process.

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Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns). Contact Us.

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Inform Accounting

MARCH 21, 2023

In this blog we set out some of the main tax rates. INCOME TAX The personal allowance and basic rate band threshold are now frozen in place until 5 April 2028. As earnings increase, individuals will move into higher tax bands. These allowances are in addition to the personal allowance and attract a 0% rate of income tax.

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? With less than a week left before the federal tax filing deadline, Doug Blattman is in panic mode.

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Cherry Bekaert

JULY 14, 2023

Many of these startups are set up as pass-through entities (PTEs), which provide an easy conduit for one layer of flow-through taxation and often retain favorable exit opportunities from a tax perspective. As these startups grow and take on investors, it’s important that financial managers understand the state tax ramifications of growth.

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Inform Accounting

OCTOBER 14, 2022

In this press conference, the September tax cuts as promised in the mini-budget have been watered down even further. What we know so far is that: The Corporation Tax will rise from 19% to 25% in April 2023. What is still, apparently, going ahead from the mini-budget is: The income tax basic rate cut by 1p to 19p in April 2023.

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Going Concern

JULY 6, 2023

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not.

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Menzies

SEPTEMBER 2, 2022

For example, if an energy-efficient vehicle cost £100,000, this would lead to a deduction against the taxable profits of £100,000, generating tax relief of £25,000 (assuming corporation tax paid at the new 25%, as from April 2023 corporation tax rates are due to increase). Donna Kenyon. View profile.

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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.

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