ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Accountant vs. CPA vs. tax preparer: What are the differences? Accounting professionals may find that some outside of the profession do not fully understand the differences between an accountant and a tax preparer. So, what are the differences?

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Going Concern

JANUARY 4, 2024

Dion provides audit, review and attest services to public and private companies in a variety of industries including technology and life sciences, government, not-for-profit, hospitality and corporate social responsibility. International Tax Services). Tax Credits & Incentive Services). International Tax Services).

Real Estate 59

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LyfeAccounting

FEBRUARY 14, 2021

In Fortune 500 corporations, CPAs might help prepare annual reports for shareholders and record very complex financial transactions. In small businesses, CPAs might help you select the best entity, hire your first employee, tax plan, create a budget, set your pricing, prepare financial projections, or oversee your books.

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ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? Claiming children on taxes Choosing the best tax preparation software As all working parents know, the cost of child and dependent care can be a significant financial burden. What is the adoption tax credit?

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ThomsonReuters

NOVEMBER 15, 2023

For accountants, understanding the ins and outs of tax deductions for charitable contributions , including how to properly report monetary donations using Schedule A, is an essential part of tax planning for clients. Which donations are tax deductible? Limits and specific rules.

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LyfeAccounting

MARCH 10, 2021

Audits are services where CPAs are required to audit your financial information in accordance with accounting and auditing standards set by the government. They know the rules of accounting and can act as a trusted advisor to help you plan for taxes, manage your finances, and overcome business challenges that you’ve never experienced before.

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SkagitCountyTaxServices

DECEMBER 8, 2021

Year End Business Tax Strategy #1: You’re the boss. If you have employees, you have some special tax preparations to think about concerning tax preparation this year. This brings us to a key concept of tax planning. Examine tax breaks for whether they’ll continue: Will they be around next year?

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business tax Tax tax preparation payroll tax 52

ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. tax return for foreign income taxes paid to a foreign government. Foreign property taxes. tax return. tax liability on the same income.

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ThomsonReuters

OCTOBER 12, 2023

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. government is necessary for compliance with tax and financial disclosure requirements, and it can involve several forms and reporting mechanisms.

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Real Estate tax return Tax tax preparation 40

LyfeAccounting

APRIL 27, 2021

But in today’s post, we’ll actually be explaining why having a huge tax refund or any refund at all is not necessarily a good thing and the reasons might surprise you. What is a Tax Refund? Well, it’s not just free money from the government (though it might feel that way). Treating yourself is not always a bad idea.

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LyfeAccounting

APRIL 22, 2021

Let’s start by understanding the number one thing Amazon does to write off taxes. How to Write Off Taxes Like Amazon. See, credits provide a dollar-for-dollar reduction of your income tax and are given by the government to reward certain types of behavior that benefit the US economy. How to write off taxes and pay $0.00

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LyfeAccounting

DECEMBER 7, 2020

Combined, 7.65% in FICA taxes. Federal Unemployment Tax Act. Not to be confused with FICA, FUTA taxes are paid only by the employer to help the Federal government assist states with their unemployment program if needed. FUTA is a 6% tax based on the first $7,000 of wages you pay each employee. More specifically, 6.2%

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payroll tax payroll Tax income tax 52

LyfeAccounting

MARCH 10, 2021

To elaborate further, our taxes help pay for government funding, which the government helps provide so many benefits for our country. So when you owe money and you’re late filing taxes, the government has less funding and you’re penalized for that. Owing Interest.

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Tax tax return Real Estate Government 52

LyfeAccounting

JULY 7, 2021

In most cases, your local government will send out a notice with your property tax assessment. And then, you can look at what they are paying in property taxes in comparison to you. Most local governments have public databases that allow you to see this information. Read your assessment letter.

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Tax CPA New Jersey Pennsylvania 52

LyfeAccounting

MAY 27, 2021

Just keep in mind that though the IRS can help clear up your questions, their main job is to collect taxes on behalf of the US government. The last thing you want is to end up in a tax court against the United States government. Or, contact us today to talk to one of our tax experts! Remember again to be timely.

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tax return audit Tax accounting and finance 52

LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

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LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

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South Carolina Hawaii West Virginia Delaware 52

MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC). Small-business tax credits.

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Tax CPA Education business tax 100

LyfeAccounting

AUGUST 10, 2021

But no, literally, just to pay taxes to the government. It was written to grow the economy, boost jobs, provide affordable housing, and promote many initiatives that the government relies on to provide for its citizens. Therefore, if you can make the tax code your friend, then you will be able to benefit from how it was written.

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Real Estate Tax tax return tax preparation 52

LyfeAccounting

DECEMBER 30, 2020

If you earn a paycheck from an employer, odds are you elected to have your taxes withheld. This means you are basically paying taxes that you will owe in advance. So for every paycheck, your earnings are being reported to the government and some, or all, of your taxes are being paid. Contact us today!

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