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Using an Income Tax Preparation Service: Is It Worth the Cost?

MyIRSRelief

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

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How to Expand a Business to Another State

CPA Practice

Wayfair case in 2018, expanding a business to make sales in another state establishes economic nexus for your clients and extends their compliance requirements. Sales tax regulations and economic thresholds vary by state, so ensure your client knows what is expected. Paying Employees in Another State.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. 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.

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Top Remote Accounting Freelancers of the Week: November 16, 2023

Going Concern

Top Freelance Accounting Candidates of this week: PT/FT Tax Contractor | Candidate ID #F19022786 Years of tax experience: 6 years of tax experience Hours available per week: 20-40 Tech Stack: ProConnect, Pro-Series, UltraTax and Go and Pro System Prefer Individual or Business Clients: no preference Business Return Experience: most comfortable with (..)

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How Much Is a Tax Consultant?

xendoo

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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Last Week in Payroll: Keeping Up with Taxes

ThomsonReuters

To illustrate the point that there are a lot of taxes to keep up with, even back in Colonial times. For payroll, in particular, there are a number of taxes. Then, there’s how to pay and file these taxes. Using sales tax to fund unemployment trust fund. State and Local News.

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20 Small Business Tax Deductions You Need to Know

xendoo

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. Employee benefits. Conventions and trade shows.