Withum

MARCH 24, 2022

The Tax Court recently denied a deduction for an expense that the taxpayer thought was an ordinary and necessary business expense. The expense was an educational expense for a non-employee, and even though the tax law allows flexibility to taxpayers in deducting business expenses, it does have limits. Business Tax Services.

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inDinero Accounting

DECEMBER 5, 2023

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

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xendoo

MAY 16, 2023

Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Receipts are records and proof of payment for the income and expenses your small business claims on tax returns.

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xendoo

MAY 16, 2023

Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Receipts are records and proof of payment for the income and expenses your small business claims on tax returns.

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LyfeAccounting

MARCH 10, 2021

CPA services are accounting services that are provided by a Certified Public Accountant, also known as a CPA. CPAs are individuals that passed the hardest professional exam in the world while meeting rigorous educational and experience requirements. Now let’s take a look at some specific CPA services. Tax Services .

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Withum

NOVEMBER 17, 2022

Resident Clients: Resident partners/shareholders participating in a PTET (elective or mandatory) may not receive a credit for taxes paid to another state on their resident state income tax return. Domicile is the place you regard as your permanent home — the place to which you intend to return after a period of absence (e.g.,

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Ryan Lazanis

OCTOBER 24, 2022

It takes a bit more strategy & thought than the billable hour as well as some basic education in price theory. With fixed pricing, you are essentially setting up a service menu and attaching a fixed price to them across the board. Another area to consider when defining scope of services is within financial reports.

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xendoo

NOVEMBER 9, 2021

With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . Get prepared for tax season with these small business tax deductions that may apply to your business. .

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Withum

FEBRUARY 16, 2023

Not exactly the best example of a “flat tax” system, right? But before we worry about the 2023 tax changes, let’s look at some of the major changes impacting your 2022 Massachusetts income tax return. Therefore, starting January 1, 2022, forgiven student loans will be excluded from federal and Massachusetts gross income.

Massachusetts 75

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Snyder

JANUARY 19, 2023

The general workload of the busy period includes getting the end-of-year info from clients, reconciliation, working with tax receipts, income reporting slips, preparing for tax returns, and more. The busiest season for any accounting and bookkeeping firm each year, of course, is the personal tax season – January to April.

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Withum

JANUARY 24, 2023

The penalty can be reduced to 10% for IRA owners who take the RMD within a specified time period and submit a corrected tax return. or how it affects your business, please contact a member of our Business Tax Services Team. Decreases RMD penalty from 50% to 25% starting in 2023. appeared first on Withum.

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Going Concern

NOVEMBER 10, 2023

Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. Earnest and Randell were separately convicted of individual counts of preparing false tax returns.

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MyIRSRelief

DECEMBER 10, 2021

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is. Who can use SALT credits and deductions?

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Going Concern

APRIL 14, 2023

Tax season is particularly appealing to threat actors because not only are people busy and under stress, but it is intrinsically tied to financial information. Considerable research supports that auditors benefit from knowledge spillover gains when they also provide tax services to their audit clients.

Tax 104

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Going Concern

JANUARY 5, 2024

He furthered his education at the University of Tennessee at Knoxville and was a member of the UT Pride of the Southland Marching Band. Based on court documents, Early was a “ghost preparer,” who falsely inflated her clients’ income to maximize the Earned Income Tax Credit and falsely claimed education-related credits on their behalf.

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