CTP

JANUARY 22, 2024

Based on your credentials and experience, are you equipped to handle the tax work that will be involved? Unauthorized Practice of Law When we do tax planning, we need to be aware of activities that could creep into the territory of “practice of law.” tax court, or similar representation work.

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CTP

MARCH 9, 2022

Visit social media or google these days and you’ll most likely see advertisements for Tax Planning. But many taxpayers (and even tax pros) are confused about the differences between tax planning and tax preparation. Why is it impossible to do tax planning at the same time as you prepare a tax return?

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CTP

NOVEMBER 23, 2023

Economic Effect Equivalency Test Typically, the type of business that struggles to pass the first two tests is a limited partnership because limited partners cannot be legally required to restore a deficit balance in their capital account. The post Tax Planning for Partnerships: What Are the Requirements for Using Special Tax Allocations?

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MyIRSRelief

MAY 1, 2024

Hiring a tax professional offers a multi-pronged advantage: Expertise and Accuracy: A qualified EA possesses in-depth understanding of tax codes, deductions, and credits specific to your business structure, be it a C corporation, S corporation, or partnership. Compliance Navigation: Tax compliance goes far beyond just filing.

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DMCL

MARCH 17, 2022

While we can all agree it’s great to pay less tax, it goes without saying that you need to make sure any methods of tax reduction you utilize follow the law. That’s why it’s important to know the difference between tax planning, avoidance and evasion when you’re looking for ways to keep your taxes down.

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MyIRSRelief

MARCH 29, 2024

These experts not only ensure compliance but also strategize to leverage tax benefits, credits, and deductions that businesses might not be aware of. The goal is to optimize a business’s tax position, reducing liabilities while adhering to legal requirements.

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MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations.

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MyIRSRelief

OCTOBER 3, 2022

Whether you’re a striving business owner or an individual taxpayer, you can hire a tax preparer to process and complete all of your tax forms. Once the process is complete, you sign the forms and make a payment to the tax preparer. Los Angeles Tax Planning Services for Individuals and Businesses.

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CPA Practice

DECEMBER 19, 2023

A delay allows business owners to specify a future effective date on their registration forms, granting them control over when their company officially becomes a legal entity. In a delayed filing, the business controls when the company officially becomes a legal entity. Let’s look at both options.

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TaxConnex

FEBRUARY 27, 2024

You have two initial ways to address your need for sales tax expertise: Your outside tax accountant or bringing tax expertise in-house. With the former, you risk that a professional versed in the tax code of the U.S. What resources will they need to handle this new responsibility?

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CPA Practice

APRIL 15, 2024

Meyer, of Davie, Florida, used his skills as an attorney and certified public accountant to promote his fraudulent tax shelter called “The Ultimate Tax Plan.” Over the years, Meyer ignored a chorus of people who advised him that his plan was illegal, including the IRS.

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MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. Here are the top five tax planning concepts every C Corporation should consider.

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CPA Practice

APRIL 16, 2024

Meyer, of Davie, Florida, used his skills as an attorney and certified public accountant to promote his fraudulent tax shelter called “The Ultimate Tax Plan.” Over the years, Meyer ignored a chorus of people who advised him that his plan was illegal, including the IRS.

Florida 52

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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. And that is all legal. Keep reading! piece of art.

Legal 59

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Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. The stakes are high because the tax benefit from getting it right can be huge.

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MyIRSRelief

DECEMBER 1, 2020

Another expense which you are legally entitled to claim a portion of your tax return back from, is travel. The thing to remember, plan for here is that personal travel expenses can NOT be claimed back, and please do not try to beat the system by claiming personal travel expenses as business expenses because the IRS will find you out.

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CPA Practice

JUNE 21, 2023

Sophisticated business owners should work closely with experienced estate planning professionals to structure their estates effectively. This involves drafting wills, trusts and other legal instruments to minimize tax liabilities and protect assets from potential challenges or disputes.

Kansas 101

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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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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. a Top 60 independent CPA firm, recently announced that Erin Wood has joined the firm’s growing Tax practice as a Tax Director.

Tennessee 52

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MyIRSRelief

DECEMBER 1, 2020

Another expense which you are legally entitled to claim a portion of your tax return back from, is travel. The thing to remember, plan for here is that personal travel expenses can NOT be claimed back, and please do not try to beat the system by claiming personal travel expenses as business expenses because the IRS will find you out.

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ThomsonReuters

MAY 14, 2024

While the technology acts as a springboard to accelerate the learning process, there’s no substitute for the pragmatic strategic guidance, assistance navigating complex and nuanced legal issues, and deep understanding of client needs and business objectives that a more senior colleague can provide, one-to-one.

Tax 52

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Cherry Bekaert

AUGUST 10, 2023

Overlay Operational Supply Chain, Tax and Legal Structure Maps Unfortunately, these increasingly complex supply chains can create potential tax liabilities that can impact a company’s financial performance as it makes fundamental changes to its operational footprint. Cherry Bekaert assists with this coordination and planning.

Finance 98

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CPA Practice

JUNE 5, 2023

But some states don’t have a jock tax, including Florida, Nevada, Texas, Washington, and Tennessee. It’s no coincidence that those are five of nine states with no personal income tax.) Are jock taxes legal? Jock taxes have faced legal challenges from players over the years.

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MyIRSRelief

DECEMBER 15, 2022

Compliance with laws and regulations: SoCal small business owners are required to keep certain financial records in order to comply with various laws and regulations, such as tax laws. Proper accounting and bookkeeping can help them to meet these requirements and avoid potential legal issues.

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PYMNTS

OCTOBER 19, 2020

However, the OECD cautioned about the potential of an international trade war brought by different nations rolling out digital services taxes on their own to assist in their economic rebounds from COVID-19 in the event nations don’t all agree on the new tax regulations. France Will Proceed With Controversial Digital Services Tax Plan.

Technology 57

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Accounting Insight

MAY 1, 2024

Matters such as tax planning, auditing, and providing specialised financial advice are areas where human accountants excel. Professional accountants consider various factors, including legal and regulatory requirements, industry-specific knowledge, and client-specific circumstances, to provide customised solutions.

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Going Concern

JANUARY 4, 2024

Tax Credits & Incentive Services). Sund assists clients with asset-related tax planning and helps them assess the impact of tangible property regulations on their business. Swartos advises real estate clients in all phases of audits, reviews and other attestation engagements, as well as in employee benefit plans.

Real Estate 59

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Going Concern

MAY 2, 2024

QuickBooks, Go-Systems, Oracle Remote Work Experience: Y Goal: Remote Senior Tax opportunity, CPA support, promotional opportunity Salary: $90K Time Zone: Eastern Sign up to learn more about this candidate FTE Tax and Accounting | Candidate ID #20076015 Certifications: QuickBooks Online ProAdvisor Education: BS Accounting Experience (years): 30+ (..)

Real Estate 59

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MyIRSRelief

AUGUST 1, 2023

Employment Tax Issues : Employee classification, especially for owner-operators, poses a significant compliance risk, as misclassification can lead to unpaid taxes, fines, and legal consequences. Misclassifying drivers can lead to significant payroll tax issues, penalties, and even legal disputes.

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Accounting Today

OCTOBER 10, 2023

Significant tax and legal issues may be triggered with some types of estate planning arrangements.

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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. Partnership A partnership retains the simple setup process but also comes with expanded accounting and tax reporting requirements.

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Ryan Lazanis

SEPTEMBER 19, 2023

L&H CPAs & Advisors L&H CPAs & Advisors is a Dallas-based firm that offers a range of services, including accounting, tax planning, CFO services, business consulting, and wealth advisory solutions.

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DentalAccounting

NOVEMBER 12, 2019

Certified Tax Coaches know how to proactively save thousands of dollars that would otherwise be wasted on unnecessary taxes. Certified Tax Coaches are tax professionals with advanced training in proactive tax planning who specialize in finding deductions, credits, loopholes, and strategies to help their clients pay less tax legally.

New Hampshire 100

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CPA Practice

DECEMBER 13, 2023

The following five strategies can help firms leverage tax season and increase client retention throughout the year. Integrating guiding questions into your tax planning sessions can tease out information that identifies areas where you can offer your client advisory services that help them meet their goals.

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CPA Practice

DECEMBER 21, 2023

Cause your Social Security to be taxed at a higher rate. Raise your alternative minimum taxes. Managing your RMDs is the key to advanced tax planning and may save you significant taxes in retirement. Creative One Wealth, LLC and Tax & Investment Advisor are unaffiliated companies.

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CTP

OCTOBER 2, 2023

Most taxpayers would say they want to take every legally permissible step to lower their tax bill. Yet each year taxpayers fail to claim tax credits they are fully eligible to receive. Taxpayers may be understandably overwhelmed by how often tax laws change or appear and disappear.

Tax 97

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LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of.

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