CTP

NOVEMBER 23, 2023

If you are working with business partnerships or entrepreneurs trying to decide on an entity type, be sure to introduce them to the tax benefits of establishing a partnership. As a pass-through entity, any income, losses, credits, and deductions from the partnership “pass through” to its partners who are taxed at personal income tax rates.

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LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. As a business owner, understanding how to navigate taxes can be extremely overwhelming. I missed payroll tax filing deadlines that cost me thousands of dollars. What are Income Taxes?

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MyIRSRelief

AUGUST 1, 2023

However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Contact us for professional tax help today! However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. Create a plan: Develop a plan for organizing and cleaning up your books. Proper accounting and bookkeeping can help them to meet these requirements and avoid potential legal issues.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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MyIRSRelief

OCTOBER 30, 2023

Income Tax Return for Estates and Trusts, is a complex tax form that is used to report the income and expenses of estates and trusts. Trust tax preparation can be a challenging task, even for experienced tax preparers. Trust tax preparation can be a challenging task, even for experienced tax preparers.

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CPA Practice

JUNE 21, 2023

One crucial aspect of wealth management is creating a holistic financial plan that includes your estate and tax strategy. By employing effective estate and tax strategies, business owners can optimize their financial legacies and minimize tax hurdles. Here are four strategies to consider adding to your financial plan.

Kansas 101

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CPA Practice

DECEMBER 21, 2023

Guy, RICP, Kiplinger Consumer News Service (TNS) Making tax-deductible contributions to your retirement accounts can seem like a luxury. However, they might become a burden in retirement if you don’t plan ahead. An RMD is the minimum amount you must withdraw annually to avoid a tax penalty. Raise your alternative minimum taxes.

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CPA Practice

JANUARY 29, 2024

And yet, investors often overlook the critical role tax efficiency can play in successful retirement planning. This isn’t something you can wait until each year’s tax season to worry about and maybe try to play catch-up. A Roth IRA can provide more flexibility when it comes to paying taxes in retirement.

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Cherry Bekaert

AUGUST 10, 2023

How to Nearshore Your Supply Chain While Capturing Financial Gains and Avoiding Tax Pitfalls Modern supply chains have grown increasingly layered as they account for separate continental end markets, manufacturing facilities and scarce raw materials spread across multiple geographies.

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LyfeAccounting

JUNE 7, 2021

We have 10 tips on how you can avoid paying taxes. Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. But even then, taxes aren’t a big deal. 10 Tips On How To Avoid Paying Taxes.

Legal 59

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MyIRSRelief

OCTOBER 18, 2021

If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? Here’s a look at several different types of IRS federal tax credits and at whether or not you could be eligible. Earned income tax credit.

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MyIRSRelief

MARCH 15, 2023

As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action.

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CPA Practice

MAY 10, 2024

Suzanne Konstance will succeed Dubey as General Manager of Wolters Kluwer Legal & Regulatory U.S, part of the company’s Legal & Regulatory division, effective May 1. Erin Eberly has been named the partner-in-charge of KSM’s tax services. Ecroyd is a licensed CPA in New York and Colorado.

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xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Overall, LLCs have a more flexible structure, while S corps can save money on taxes in the long run.

Tax 52

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xendoo

AUGUST 2, 2023

Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Xendoo does online accounting , bookkeeping, and taxes for businesses, so it’s a question we answer frequently. Overall, LLCs have a more flexible structure, while S corps can save money on taxes in the long run.

Tax 52

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Withum

NOVEMBER 28, 2023

With the year coming to an end, it’s essential to kickstart your 2023 tax preparations and start thinking about tax-saving techniques, potential opportunities, and the recent legal modifications that might impact your tax obligations.

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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.

Tax 52

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ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Read on to find out.

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Menzies

MAY 11, 2023

One of the main aspects you need to think about when becoming a landlord is the tax position and ensuring that you meet the tax reporting requirements. When you start receiving rental income, you must notify HMRC by 5 October following the end of the tax year rental income commenced to register for Self Assessment.

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CTP

NOVEMBER 23, 2023

One of the hidden benefits of setting up your business as a partnership is the ability to use special tax allocations. Because a partnership is a pass-through entity, income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates.

Tax 52

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ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. Which is better, a C corp or S corp or LLC?

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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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MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. Here’s a look at several things to know surrounding R&D tax credits. First off, what are R&D tax credits? Increased ROI.

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. My promise to you is that any question you have about payroll taxes will be answered and the high-level details you need to know about payroll taxes will be shared.

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CPA Practice

FEBRUARY 8, 2023

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. Likewise, clients in these markets will have access to Andersen’s full suite of tax services and extensive global platform.

Real Estate 52

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Anders CPA

AUGUST 30, 2022

The interim Name, Image and Likeness (NIL) Policy has opened many doors for college athletes – including the door that requires annual income tax filings for NIL deals. By using a solo 401(k) for retirement savings, business owners may contribute to the plan from both the stance of an employee as well as the business.

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Going Concern

JUNE 16, 2023

The former slugger, along with former Blue Jay teammates Josh Donaldson and Russell Martin, is embroiled in a cat fight with the Canada Revenue Agency (CRA) over millions of dollars in taxes. No tax is paid by the owner/employee until benefits are received at retirement. Bautista’s lawyers said that the $13.3

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Withum

FEBRUARY 28, 2023

One is the business arrangement agreed to by the parties involved, and the other is the tax planning designed to minimize taxes while allowing the business arrangement to be fulfilled. The majority of corporate transactions typically reflect at least two separate elements.

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ThomsonReuters

NOVEMBER 10, 2020

Are you owed a tax refund? The importance of modeling the GILTI High Tax Exclusion. . Department of the Treasury and the Internal Revenue Service issued the final regulations regarding the election to exclude high-tax Global Intangible Low-Taxed Income (GILTI) from a U.S. shareholder’s gross income.

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xendoo

NOVEMBER 23, 2020

Are you claiming all the income tax deductions you’re entitled to? Real Estate Taxes. Any real estate taxes you pay to your state, city, and even another country are deductible. Money borrowed for investment (if the investment has more interest than income, you can carry forward the overage to next year).

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LyfeAccounting

JANUARY 14, 2021

?. If you are self-employed, congratulations, you now have to make tax payments every quarter of the year or Uncle Sam will pay you a visit to drop off interest and penalties. I myself have to pay quarterly tax payments and here at LYFE Accounting, we help business owners pay theirs. Who has to pay quarterly tax payments.

Tax 52

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CPA Practice

NOVEMBER 29, 2023

There Are 2, No 3, Responsible Taxpayers in Every Sales Transaction The adoption of marketplace facilitator collection responsibilities has complicated sales tax reporting. Going Local Local taxes are proliferating and can be challenging to learn, administer, and challenge. Participants qualify for CPE and CLE credits.

New York 52

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LyfeAccounting

JULY 28, 2021

If you have kids under age 18 and a business, then you have a huge opportunity to save on taxes. All while saving thousands of dollars on taxes. We actually recommend this a lot to our clients as a strategy when they work with our tax planning services. Do you understand now why this is such a valuable tax strategy?

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Withum

MAY 10, 2024

What are the tax considerations I need to think about? Understanding the tax implications of the transition. Options in Transition Planning Below are some options that a business owner can consider, along with a high-level discussion of the tax considerations that apply. How do I successfully transition this company?

Construction 52

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LyfeAccounting

MARCH 10, 2021

Avoid Paying Tax Penalties: Here’s How. Delay taxes for a stimulus check? Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. And we’ve been surprised at the number of people who have no idea how tax penalties and tax interest actually work.

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