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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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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. This way you avoid double taxation (where the corporation and shareholders pay tax on the same income).

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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. This way you avoid double taxation (where the corporation and shareholders pay tax on the same income).

Tax 52
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Accounting Tips for Start up Freelancers

Cheap Accounting

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. What taxes will I pay? Tax is paid on profits (income less allowable costs) from your business. If your profit is less than that, then operating as a sole trader might be the preferred route.

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The tortured journey of data: How tax technology speeds up tax compliance, provision, and reporting

ThomsonReuters

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. accounting software, payroll, etc.)

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20 Essential Tax Facts for Small Business Owners

Ronika Khanna CPA,CA

Of course if your cat picture website starts to become popular and you decide that you want to actively build this business by advertising on the site or partnering up with cat product resellers, your non commercial hobby could then be considered a business. There are specific rules with respect to tax deductions for clothing expenses.

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How are C corporations taxed? Tips on how to avoid double taxation and reduce taxes

ThomsonReuters

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? How are C corporations taxed? This means that a C corp’s profits are effectively taxed twice.