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Tax Season to Start January 29, 2024

CPA Practice

However, the tool provides limited information, often leading taxpayers to call the IRS to inquire about their refund status. With the improvements, taxpayers will see clearer and more detailed updates, including whether the IRS needs them to respond to a letter requesting additional information. Improvements to the Where’s My Refund?

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IRS Starts Accepting Returns and Extends Hours at Tax Assistance Centers

CPA Practice

, taxpayers will see clearer and more detailed updates, including whether the IRS needs them to respond to a letter requesting additional information. The IRS plans to continue expanding the information available on Where’s My Refund? Taxpayers will also see other improvements this tax season, including: Phone service.

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4 Ways Small Business Owners Can Stay Tax Compliant

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By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. Pay Self-Employment Tax. Pay Quarterly Estimated Taxes .

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How Long Does It Take an Accountant to Do Taxes?

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How Much Time Does it Take an Accountant to Prepare Taxes? The time it takes an accountant to do taxes depends on the complexity of your return and how quickly you make your tax information and necessary documents available to them. . It is better to plan ahead before the tax filing deadline.

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The Small Business Guide to Revenue vs. Profit

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If you’re running a small business, it’s critical to understand the difference between revenue vs. profit to make informed decisions about how to grow your business. Subtracting this from the gross margin gives you an operating income of $69,916. Provision for income taxes totaled $9,831.