xendoo

JANUARY 26, 2023

As a business owner, you probably know that you should file taxes on time. However, if you’ve fallen behind on taxes, you’re not alone. Over 33% of Americans procrastinate doing taxes until the last minute. Reasons for procrastinating taxes vary. What happens if a business doesn’t file taxes by the due date?

Tax 52

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CPA Practice

MARCH 10, 2023

That money is expected to be used to modernize the agency’s outdated technology systems, improve taxpayer services, and to increase tax enforcement activities, among other things. Everything the IRS does in coming years will be examined not just as a matter of tax administration, but also as to how it plays out politically.

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LyfeAccounting

NOVEMBER 4, 2020

?. In today’s post, I’ll be going over everything you need to know about tax filings for your small business and how to stay out of trouble with the IRS. Similar to yourself as an individual, your small business has tax requirements that must be met in order to avoid unwanted penalties and interest from the IRS. Sound good?

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LyfeAccounting

JUNE 29, 2021

How to opt-out of monthly child tax credit payments? So if you are someone who does not want an advanced payment on your child tax credits… …maybe because you are worried about your tax liability, or maybe you just like the idea of a big tax refund when you file your taxes, t hen you can opt out.

Tax 52

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LyfeAccounting

FEBRUARY 19, 2021

We will also be discussing a typical operating agreement, how taxes work, and compare it against sole proprietorship. So if you want to start a business and believe that a limited liability company is the best entity type for you, t hen you must go to your state’s business division to gain information about their specific process.

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LyfeAccounting

MARCH 5, 2021

?. Which business entity is going to save you the most money on your taxes? Now, your tax expense can greatly vary based on the entity you select here. So by the end of this post, we hope that you’re saving thousands and not paying thousands more than you have to in taxes. Legal vs Tax Entity. So, you’re taxed twice.

Tax 52

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LyfeAccounting

FEBRUARY 9, 2021

?. What are the tax benefits of S-Corps? And here’s a quick note: We recently saved our client over $95,000 in taxes by making one small change – you guessed it right, helping her switch from an LLC to an S-Corp. Also, the information in this post is solely for educational purposes only. 4 Tax Benefits of S-Corps.

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KROST

JANUARY 14, 2021

Most of these provisions are included in the Additional Coronavirus Response and Relief (“ACRR”) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (“TCDTRA”) Divisions of the Act. The second round of Recovery Rebates authorized by the Act are direct credits against 2020 taxes. Tax , Real Estate. Mortgage Benefits.

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Going Concern

SEPTEMBER 22, 2023

As leader of the Division of Finance, Miller oversees the university’s accounting and financial reporting, procurement and surplus property, budget and financial planning, capital budgeting, financial management, debt and cash management, financial information technology, risk management, and university bursar functions.

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xendoo

MAY 9, 2021

You may have outgrown your current legal status and it’s time to change from an LLC to S Corp to gain additional tax benefits that you’ve earned! The main differences between an LLC and an S Corp are: An S Corporation isn’t a business entity like an LLC—it’s an elected tax status. Tax-preferred retirement savings .

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LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? Now unless you’re an accountant reading this then we know you didn’t go to school to learn taxes and you probably don’t spend your weekends binge reading the tax code. Your tax deduction would be about $17,250. Crazy right?

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xendoo

MARCH 18, 2021

A skilled accountant will keep you tax compliant and ensure that you’re always in-the-know and focused on the big picture when it comes to your financials. Online accounting software provides tracking and up-to-date visibility on your business’s financial health, so you can make smart decisions and be tax-ready all year long. .

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