CPA Practice

APRIL 24, 2024

A new bill recently introduced by lawmakers in both the House of Representatives and the Senate would improve the IRS’s math error procedures—a power used by the agency to quickly adjust a taxpayer’s federal income tax return if it contains a simple mistake or clerical error.

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ThomsonReuters

JANUARY 28, 2022

If you spend a lot of time hiring temporary employees just to help with tax season, you could be missing out on a lot of potential talent—those employees who are looking for long-term positions. Tax accountants who only need office space for a few months out of the year must spend a lot of time before tax season looking for good options.

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Withum

MAY 19, 2023

The bill, which has been making its way through the New Jersey legislature since May 12, 2022, states, “For cannabis licensees, New Jersey gross income under subsections b. ” This section is intended to apply to all cannabis licensees in the State of New Jersey who are subject to corporate income tax.

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Basis 365

APRIL 28, 2022

Choosing your entity type really crosses two disciplines, legal and tax. The legal side of your entity type relates to your legal protection or future equity expectations for the business. We have worked with a tax professional to outline some key considerations for what entity type you should be looking into.

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Withum

JANUARY 8, 2024

Based on this modified guidance, contract researchers should review their legal documents carefully to determine whether they can fall under the excluded product right exception and most likely immediately expense the R&E activity as a trade or business expense.

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CPA Practice

AUGUST 15, 2023

Understand your legal and regulatory obligations, develop adequate policies to secure client data and protect your practice. She returned to school to study accounting at Illinois State University, earned her CPA, and worked for Deloitte in Chicago for several years as a state and local tax accountant.

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CPA Practice

NOVEMBER 29, 2023

In light of the developments associated with efforts to the increasing digitalization of our economy – which has profound effects on sales taxability, income tax sourcing, and the application of Public Law 86-272, the panel covers the inconsistent interpretations of tangible person Property. There is more behind the curtain to learn.

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ThomsonReuters

SEPTEMBER 7, 2023

The child and dependent care tax credit provides financial relief for families who pay for child or dependent care expenses. To claim the child and dependent care tax credit, taxpayers must file their Form 1040 federal income tax return using Form 2441. If the child’s unearned income (i.e.,

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xendoo

FEBRUARY 15, 2022

If your situation requires specialized knowledge about tax codes, fees are usually commensurate with qualifications. What Does a Tax Consultant Do? A tax consultant is trained in tax law and financial accounting. They also should know recent tax law changes on both a federal and state level. .

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xendoo

APRIL 8, 2022

A tax deduction and tax credit can both save you money on taxes, but they are different terms. . Tax deductions can lower the amount of taxable income. For example, tax brackets–a range of annual income–are used for income tax. Legal, accounting, and professional fees.

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FraudFiles

NOVEMBER 5, 2020

Virtually all civil suits involve issues about money, and a certified public accountant is one of the best resources for sorting out the financial details. As a professional doing income taxes, financial statement audits, benefit plan consulting, or other advisory work, you possess valuable expertise that could help expand your practice.

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Anders CPA

MARCH 25, 2024

Setting a cash target for your legal practice is like deciding how much extra fuel to carry in your car. Mistake #1: Using One Bank Account for Multiple Purposes Solution: Have an operating account, a cash reserve account, a tax account, and a client trust account. Mistake #2: Taxes?

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xendoo

JANUARY 26, 2023

Your tax status – Tax-exempt organizations and non-profits have different filing deadlines than for-profit businesses. The type of return you’re filing – Different returns, including IRS Form 1120 for corporation income tax, have different deadlines. How Long Can You Go Without Filing Business Taxes?

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xendoo

JANUARY 16, 2023

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. For example, you may need to pay self-employment tax.

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Going Concern

JULY 14, 2023

Prior to joining DLA, John served as a Partner with two National professional services firms, where he was the subject matter expert on business combinations, impairment analysis, income tax accounting, stock compensation, revenue recognition, and going concern analysis.

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xendoo

JANUARY 30, 2023

This guide goes over business tax credits that could save you money on taxes. You’ll also learn how to maximize their impact with the help of an experienced CPA or tax accountant. Small Business Tax Credits vs. Deductions Small business tax credits and deductions are valuable tools for reducing your tax bill.

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xendoo

FEBRUARY 13, 2023

Everyone—from individuals to business owners—wants to know how to lower their taxes. Tax laws are complicated and they can change each year. Our tax accountants know all the tax breaks for business owners and how to leverage them. A pass-through entity doesn’t file taxes as a separate entity.

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Steve Feinberg

NOVEMBER 9, 2021

New Hampshire’s tax burden is low for business owners, and there is no general sales or personal income tax either, making it an attractive prospect for potential employees. Once you have an idea of what your business will do, it’s time to familiarize yourself with the formal and legal process for making your company a reality.

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CPA Practice

JULY 27, 2023

Five alumni of Auburn University who teamed together to create the software development company SmartWiz have been awarded $150,000 in developmental funds by Google to advance and distribute their tax accounting software.

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TaxConnex

MARCH 2, 2021

In another possibly trendsetting development, Maryland has greenlighted the country’s first tax on digital advertisements sold by companies such as Facebook, Google and Amazon. Estimates reportedly said the tax will generate up to $250 million but opponents promise legal challenges. Texas sales tax collections totaled $3.07

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inDinero Tax Tips

DECEMBER 13, 2020

If you have capital gains from appreciated investments (that are not tax-deferred like an IRA, 401(k), 403(b) and so on), then you might consider selling some investments before the end of 2020 to save income taxes. There’s a lot to consider, both tax and non-tax-wise. Personal Taxation (including pass-throughs).

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