article thumbnail

Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

Tax 130
article thumbnail

Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

Thinking that only dispensaries have to worry about taxes to their cannabusiness? Entrepreneurs, processors, and cultivators in the cannabis industry may be subject to taxation, and it’s important for them to understand the complexities around their tax implications. Do they have to pay tax on all gross revenue? Think again.

Tax 111
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top Remote Accountants of the Week | May 16, 2024

Going Concern

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

article thumbnail

The accountant’s guide to state taxes on retirement income

ThomsonReuters

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

article thumbnail

Healthcare Payments AI, Subscription Churn, Turbo Tax Tool For Stimulus Payments Top This Week’s News

PYMNTS

We have deep dives into healthcare payments artificial intelligence (AI), subscription churn, and a TurboTax tool for stimulus payments. TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Trackers and Reports.

article thumbnail

How are S corporations taxed? Tips for filing and reducing taxes as a pass-through entity

ThomsonReuters

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs).

article thumbnail

Tax Fraud Blotter: Load of CRAT

Accounting Today

This beauty's a steal; what a Lady; medical miscreants; and other highlights of recent tax cases.

Tax 83