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Professionals on the Move – Nov. 2023

CPA Practice

With more than 20 years of brand-building and marketing experience, Ball brings a deep understanding of the small business accounting landscape and will ensure Bookkeep’s solutions align with the urgent needs of bookkeepers and finance teams. She is a member of the American Institute of CPAs and the California Society of CPAs.

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How to Change from an LLC to an S Corporation

xendoo

When you’re ready to change from an LLC to S Corp, we recommend that you consult an accountant or tax preparation services to make sure there are no mistakes that could cause you to lose your money-saving tax status. Whether it’s the 1120S, 1120, or 1065, Xendoo’s CPAs will file the right return for you, right on time.

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How to Write Off Your Dream Car Tax Free in 2021

LyfeAccounting

So if you had a $150,000 tax liability, the money you would have to pay the government anyway, this would allow you to get a $150,000 tax write-off. And this can be a tax savings of 30-40%! Now, this is the power of leveraging the tax code and why accountants and CPAs get paid so much money.

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The Best Online Accounting Software for Small Businesses

xendoo

Additionally, if you wait until tax time to get it together, it can end up giving you a real headache – hiring an accountant at the last minute with books full of errors could cost you more than you set aside in the first place. What does online accounting software do?

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Tax Benefits & Differences: Sole Proprietor vs. LLC vs. S-Corp vs. C-Corp | Which Business Entity is Best?

LyfeAccounting

And if you get this wrong, the IRS can go back and reclassify payments listed as distributions as W-2 wages that must be taxed. This intimidates a lot of business owners. According to many CPAs we know, the unofficial rule is that a reasonable salary is equal to ? of the business profits. What is a Reasonable Salary?

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