MyIRSRelief

MAY 22, 2023

In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems. Contact us for tax help today. Tax audits can be time-consuming and require a significant amount of documentation.

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DentalAccounting

JULY 22, 2020

The Provider Relief Program was established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to reimburse eligible providers for healthcare-related expenses and lost revenues attributable to COVID-19. Have filed federal tax income returns for 2017, 2018 and 2019 or be exempt from requirement to file a federal tax return.

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Going Concern

MAY 16, 2024

FTE Senior Accounting and Tax | Candidate ID #5311425 Certifications: CPA, QB ProAdvisor Education: BA Accounting, MS Accountancy Experience (years): 10+ years public accounting Work experience (detail): 2+ with national firm 10 years working with large C-Corp clients 5+ years with SMB and HNWIs tax prep and advisory 4 years with own practice with (..)

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Going Concern

SEPTEMBER 1, 2023

Law & Order Co-Owner of Media Brokerage Firm Pleads Guilty to Filing a False Tax Return [ Department of Justice ] According to court documents and statements made in court, Susan K. Despite receiving the completed and accurate tax returns from the accounting firm, Patrick did not file them with the IRS.

Account 109

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CPA Practice

MARCH 6, 2024

The Solopreneur Accelerator Program Just in time for tax season, Lettuce unveiled its Solopreneur Accelerator program, offering the first 1,000 solopreneurs who join a tailored business assessment to enhance profitability in 2024. To participate, register by March 31 at [link].

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CPA Practice

MARCH 7, 2023

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. For businesses structured as corporations, being an S Corp can help them avoid paying taxes at the corporate and shareholder levels.

New Hampshire 114

New Hampshire Tax tax return income tax 114

CPA Practice

MARCH 8, 2023

Survey respondents operate in nearly a dozen different industries, including: Telecommunications Oil and gas Insurance Finance Healthcare Construction Manufacturing Lodging and Hospitality Beverage alcohol Retail Business professional services The data included in this blog post represents the findings specific to enterprise companies.

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PYMNTS

MAY 1, 2020

Bloomberg reports that if SMBs qualify for loan forgiveness by using 75 percent of the funds to pay workers, they cannot deduct the wages or other business expenses paid for by the cash on their tax return, according to the seven-page IRS notice published on Thursday (April 30).

Tax 70

Tax payroll tax return Healthcare 70

CPA Practice

JULY 11, 2023

James is one of the firm’s leading experts in accounting for income tax, including accounting for mergers and acquisitions, in accordance with ASC 740. He has served clients in various industries, including healthcare, retail, manufacturing, technology and professional services. James is a graduate of Youngstown State University.

Real Estate 52

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MyIRSRelief

MAY 1, 2024

Healthcare Services: This might include dentists, chiropractors, physical therapists, or specialized medical practices. EAs understand the unique tax implications of C corporations and can ensure accurate filing of form 1120, maximizing deductions and credits while minimizing your tax burden.

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Withum

JANUARY 18, 2023

Some of the actions that can result in such a finding include filing a false tax return, two sets of books and the destruction of records. The IRS is currently focused on a number of areas where there is fertile ground for possible criminal referrals.

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Tax Government tax return Healthcare 107

Inform Accounting

JANUARY 4, 2023

However, many businesses such as charities or healthcare services simply cannot afford to recover the VAT incurred, so it is not appropriate (or realistic) to opt to tax. It’s therefore very important to consider the type of business or industry you are planning to rent or sell to before deciding whether to opt to tax.

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tax return Tax Healthcare Sales 52

Cherry Bekaert

AUGUST 25, 2023

There are a few important things to remember when claiming the ERC tax credit. The 2020 and 2021 credit is claimed on Form 941-X, Adjusted Employer’s Federal Quarterly Tax Return. You must understand it is your responsibility to file Forms 941-X with the IRS. Employee ID (Number) Employee Name (Name) Employee is Owner? (Y/N)

Pennsylvania 97

Pennsylvania Government tax return Tax 97

ThomsonReuters

DECEMBER 7, 2022

To help accounting professionals, especially those entering the profession, this article will explore how fiduciary income tax is different from estate tax, who files a fiduciary tax return, what defines estates and trusts, and more. What is fiduciary tax? Who files a fiduciary tax return?

Tax 59

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CPA Practice

DECEMBER 21, 2023

To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and individuals. Make up a tax shortfall with increased withholding.

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Cherry Bekaert

SEPTEMBER 15, 2023

There are a few important things to remember when claiming the ERC tax credit. The 2020 and 2021 credits are claimed on Form 941-X:Adjusted Employer’s Federal Quarterly Tax Return. You must understand it is your responsibility to file Forms 941-X with the IRS. Lastly, remember to mail only the completed form.

Education 98

Education Government Non-Profits Tax 98

ThomsonReuters

APRIL 25, 2024

Stay informed on changes in tax laws and regulations that may impact retirement income. Adapt strategies as needed for effective tax planning. Don’t forget about healthcare. Consider healthcare costs in retirement, including Medicare premiums and potential long-term care expenses. Empower your clients.

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MyIRSRelief

APRIL 15, 2021

What we can do however, is look at a few common examples, including: Healthcare, life sciences, technology, and manufacturing. If you do wish to claim for this particular tax credit, you will need to gather plenty of support for the credit in which you happen to be legally entitled. Can start-ups still benefit?

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Tax payroll tax tax return Start-ups 100

Nancy McClelland, LLC

DECEMBER 26, 2023

1099-MISC Items such as rent payments, royalties, attorney settlements (as mentioned above, not payments for legal services ), and medical healthcare payments will still be reported on Form 1099-MISC , though the form has been redesigned and the boxes renumbered.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

1099-MISC Items such as rent payments, royalties, attorney settlements (as mentioned above, not payments for legal services ), and medical healthcare payments will still be reported on Form 1099-MISC , though the form has been redesigned and the boxes renumbered.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Snyder

FEBRUARY 12, 2023

From their side, the employer is responsible for: Paying their share of payroll taxes; Depositing tax dollars withheld from the employees’ paychecks; Preparing reconciliation reports; Accounting for the payroll expense; Filing payroll tax returns.

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Withum

JANUARY 18, 2023

Employment taxes. Healthcare. Tax Evasion IRC 7201. Where the government can demonstrate beyond a reasonable doubt that the taxpayer with a deficiency made an affirmative act to evade tax and was willful, a charge of tax evasion may result. Some of these areas include: Abusive preparers. Bankruptcy fraud.

Tax 52

Tax tax return Government Healthcare 52

PYMNTS

SEPTEMBER 20, 2017

It’s an interesting result, considering the current legislation addressing healthcare reform. Analysis by Paychex published last month identified healthcare reform as one of the top five issues impacting payroll in the U.S. Still, health insurance remains most important to U.S. While the U.S. Most respondents (81.24

payroll 40

payroll Healthcare tax return Tax 40

LyfeAccounting

JANUARY 20, 2021

Second, you can use your 2019 and 2020 annual tax returns to confirm the revenue reduction. times your average monthly payroll costs and healthcare costs or. $10 times your average monthly payroll costs and healthcare costs from the prior year or within the calendar year; or. How big of a PPP loan can I receive?

Non-Profits 52

Non-Profits payroll Healthcare Hospitality 52

FraudFiles

JANUARY 26, 2022

The documents should include income tax returns, bank and brokerage account statements, credit card statements, real estate closing statements, mortgage applications and contracts, documentsrelated to major purchases, wills and trusts, and anything else related to the family’s finances. Change beneficiaries and decision-makers.

Real Estate 52

Real Estate accounting and finance income tax tax return 52

SingleTrackAccounting

FEBRUARY 7, 2020

Carrying health insurance is still mandatory under the Affordable Care Act and most small business owners can deduct health insurance related expenses for themselves and their employees on their business tax return. There are other healthcare related expenses you can deduct such as HSA (Health Savings Accounts).

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Tax income tax tax return Colorado 75

Menzies

JANUARY 7, 2024

In order to use this facility however, you will need to have set up a government gateway account, see below if you need details of how to do this.

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Anders CPA

JANUARY 23, 2023

in Workforce Development and Training from Southern Illinois University, Carbondale before achieving her Master’ in Healthcare Administration from Lindenwood University. She is involved in all aspects of client audit engagements, including work paper and tax return review, engagement planning and scheduling.

Missouri 19

Missouri Real Estate Illinois public accounting 19

ThomsonReuters

FEBRUARY 8, 2022

A rise in tax regulations, globalization, an influx of innovative technologies, and a greater demand for “always on” access makes it an exciting time for tax and accounting professionals to be in business. One significant trend sweeping the tax profession is the rise of value-added services. 3) Boost your firm’s reputation.

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Tax Entertainment payroll bookkeeping 105

PYMNTS

MAY 9, 2018

The partners looked at more than 20 million tax returns from the 15 cities studied. However, said Messenger, Fiverr is only a marketplace platform; it’s not its place to offer users the same benefits they would be offered by a formal employer — i.e., healthcare and automatic tax deductions.

Kansas 40

Kansas Healthcare tax preparation tax return 40

ThomsonReuters

JULY 10, 2023

In the United States, it is not a federal tax, but rather a state and local tax. Sales tax revenue is used to fund various government programs and services such as education, transportation, and healthcare. Also, it’s a form of indirect tax, meaning that it is a tax that can be shifted to others.

Sales 98

Sales Tax Michigan Washington 98

ThomsonReuters

JULY 10, 2023

In the United States, sales tax is not a federal tax, but rather a state and local tax. Sales tax revenue is used to fund various government programs and services such as education, transportation, and healthcare. Retail sales taxes are important sources of revenue within the United States.

Sales 97

Sales Tax Arizona Georgia 97

CPA Practice

SEPTEMBER 11, 2023

Universities are exempt from paying taxes on that type of real estate revenue. Acknowledging it does provide medical education as a teaching hospital, the IRS position is that Mayo Clinic is a healthcare organization and is not primarily a school. Nonprofit hospitals are not exempt.

Real Estate 115

Real Estate Tax Education Hospitality 115

CPA Practice

SEPTEMBER 12, 2023

Universities are exempt from paying taxes on that type of real estate revenue. Acknowledging it does provide medical education as a teaching hospital, the IRS position is that Mayo Clinic is a healthcare organization and is not primarily a school. Nonprofit hospitals are not exempt.

Real Estate 95

Real Estate Tax Education Hospitality 95

inDinero Tax Tips

MAY 24, 2023

You need to have a clear picture of what you’re spending on your business, not to mention the IRS requires documentation for all business expenses claimed on tax returns. Beyond that, certain industries, such as healthcare or businesses receiving government funding, also have legal documentation requirements.

Tax 52

Tax income tax tax return Legal 52

ThomsonReuters

FEBRUARY 10, 2021

While many of those provisions impact tax years 2021 and later, some affect 2020 returns. Here’s a rundown of what you need to know about the CAA as you prepare 2020 business and individual tax returns. Individual Returns. Amendments to CARES Act Economic Impact Payment Rules.

Tax 98

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ThomsonReuters

FEBRUARY 8, 2024

LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns. This is how LLCs avoid double taxation (i.e.,

Tax 52

Tax income tax payroll tax Healthcare 52