CPA Practice

SEPTEMBER 19, 2024

The new tax season of 2024 brings multiple changes and updates, which makes it a rather challenging time for all tax professionals. At a minimum, tax professionals need to stay sharp and up to date with the laws and regulatory requirements that change from year to year. By Isaac Bock.

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MyIRSRelief

FEBRUARY 23, 2024

Facing the IRS can be a daunting experience, especially when dealing with unpaid back taxes, unfiled returns, and the looming threat of bank levies. For many, the stress and confusion surrounding tax debt can feel overwhelming. Furthermore, failure to file tax returns can result in hefty fines and legal repercussions.

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tax return Tax CPA accounting and finance 130

MyIRSRelief

MAY 1, 2024

You’re passionate about your product or service, constantly innovating, and striving for growth. Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls.

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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

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payroll tax payroll audit Tax 147

Cherry Bekaert

OCTOBER 10, 2024

Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager In today’s complex tax landscape, businesses must navigate a myriad of regulations that vary by state and region. Properly setting up PTCs maintains compliance and operational efficiency, along with accurate tax management across various states and jurisdictions.

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Tax audit Sales Legal 110

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

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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tax services Tax tax preparation tax planning 130

MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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CPA Practice

AUGUST 14, 2024

A newly updated Written Information Security Plan (WISP) is now available from the IRS, designed to help protect tax professionals against continuing threats from identity thieves and data breaches. 13 as part of their “Protect Your Clients; Protect Yourself” security campaign for tax professionals.

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TaxConnex

JULY 30, 2024

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

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South Dakota Alaska New Hampshire Montana 222

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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payroll tax Tax payroll audit 130

CPA Practice

APRIL 29, 2024

Cytron Filing taxes for your clients doesn’t have to be a drain on your firm’s time, energy, and resources. Wrestling with sky-high tax season burnout and subpar work-life balance. Redundant and draining tasks that eat away at a tax professional’s time and energy. By Scott H. At that point, I said, ‘It’s them or me.’

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CTP

NOVEMBER 15, 2023

Do you feel that you pay too much in tax? The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. You’re not alone.

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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. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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tax accountant Tax Account accountant 130

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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MyIRSRelief

OCTOBER 2, 2023

There are so many things to think about, from developing a business plan to marketing your products or services. You don’t have a lot of money to spend on accounting and tax services. The truth is, accounting, taxes and bookkeeping are essential for all businesses, regardless of size or age. To comply with tax laws.

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CTP

FEBRUARY 29, 2024

American gaming has boomed since sports betting and online gambling were legalized. Complex tax laws for filing and deducting gambling winnings and losses provide new hurdles for taxpayers. Internal Revenue Service (IRS) reporting rules from W-2Gs to 1099-Ks are very confusing for taxpayers to understand.

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MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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ThomsonReuters

JANUARY 8, 2024

Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks. Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks.

Tax 101

Tax Account accountant accounted 101

CPA Practice

APRIL 24, 2023

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities. However, the legally binding partnership agreement may outline a different partnership equity.

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Legal income tax tax return Mississippi 98

MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

tax services 147

tax services California Tax tax preparation 147

ThomsonReuters

JULY 2, 2024

The integration of GenAI into tax-related tasks promises to revolutionize the industry by enhancing efficiency, accuracy, and productivity. Take a look at the current state of GenAI training, the emergence of new job titles and companies influencing the future of GenAI, and how tax professionals should prepare for future expectations.

Tax 96

Tax Technology tax return bookkeeping 96

Cherry Bekaert

OCTOBER 28, 2024

Understanding the available tax relief options is crucial. IRS Disaster Relief The Internal Revenue Service (IRS) offers comprehensive tax relief to those affected by Hurricane Helene and Hurricane Milton across several states. Tennessee : Tax relief measures are detailed on the Tennessee Department of Revenue website.

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South Carolina North Carolina Tax Alabama 52

MyIRSRelief

JANUARY 3, 2022

With tax season coming up fast, our thoughts will soon be turning to our books and accounts, as we look to get all of our taxes in order so as to appease the wrath of the tax man. If you’re a small business owner, you will likely already be aware that employment 941 payroll trust fund taxes can cause monumental headaches.

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Tax payroll tax payroll Legal 147

TaxConnex

DECEMBER 14, 2023

In sales tax calculation, you deal with the “hard” and the “less-hard.” Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation.

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West Virginia Virginia Kentucky Minnesota 209

TaxConnex

DECEMBER 21, 2021

Staying on top of the ever-evolving sales tax landscape takes constant time and attention. But how does that impact your sales tax compliance and is there a way to lighten the load on your finance teams who may already be feeling the pain of doing more with fewer and fewer resources? What’s ‘Great’ about it?

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Sales Tax cpa firm CPA 176

ThomsonReuters

APRIL 17, 2024

The emergence of g enerative artificial intelligence ( GenAI ) has sparked both excitement and apprehension in the tax industry, with professionals divided on its potential impact. Access full report The new report The Thomson Reuters Institute has released its latest report on GenAI, titled 2024 GenAI in Professional Services.

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Tax tax preparation tax return Technology 98

CPA Practice

FEBRUARY 9, 2024

Taylor, Kiplinger Consumer News Service (TNS) The Kansas City Chiefs, making their second consecutive appearance, are set to play in Super Bowl LVIII against the San Francisco 49ers. However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. By Kelley R.

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Gambling Sports South Carolina Tax 122

CPA Practice

MARCH 29, 2023

The Internal Revenue Service warns that trusting tax advice found on social media can lure otherwise honest taxpayers and tax professionals into compromising tax situations. Social media can circulate inaccurate or misleading tax information, and the IRS has recently seen several examples.

Tax 137

Tax tax return payroll Legal 137

ThomsonReuters

AUGUST 7, 2024

Today’s tax and accounting firms stand on the brink of a transformative era, driven by the rapid integration of Artificial Intelligence (AI). The adoption of AI is expected to automate routine tasks, which could free up to four hours per week for each professional.

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Tax Account accountant accounted 59

CPA Practice

JUNE 5, 2023

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

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income tax Tax Sports Nevada 118

CPA Practice

JUNE 19, 2023

By Michael Aloi, CFP, Kiplinger Consumer News Service (TNS) I never recommend an investment solely for the tax benefits. If an investment makes sense as part of a diversified portfolio and can provide tax benefits, then it is a win-win. But it’s the tax advantages of real estate investment trusts that I want to focus on here.

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Tax Real Estate income tax Legal 111

CPA Practice

JANUARY 31, 2024

By David Faulkner, CFP, RICP, Kiplinger Consumer News Service (TNS) As a U.S. citizen and business owner, I really don’t have a problem with paying the taxes I owe. And yet … I don’t necessarily have an overwhelming desire to pay more in taxes than I absolutely must. I understand the money the IRS collects (about $4.3

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Tax Texas income tax Entertainment 126

Cherry Bekaert

FEBRUARY 7, 2024

Understanding business entities and tax structures can save you a tremendous amount of time, money and potential headaches down the road. An LLC is one of four main legal business structures, whereas an S corp is a tax classification. This means that the partnership does not pay income tax. That rate is the sum of 12.4%

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Real Estate Tax income tax Legal 103

VetCPA

MARCH 16, 2022

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership. Net Earnings.

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Tax income tax tax consultant business tax 130

Withum

JANUARY 31, 2024

Withum’s global advisory and accounting network, HLB International, has been named the Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International (CFI). Withum’s International Services team tailors custom solutions for clients on the international stage. Please click here for further details.

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CPA Practice

OCTOBER 24, 2023

For almost as long as commerce has existed, small business owners have struggled with managing their finances and taxes, while at the same time running the operational side of their businesses. there are more than 13,000 taxing jurisdictions, including states, cities, counties, and a variety of special districts. 2023 sales tax rates.

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