inDinero Tax Tips

FEBRUARY 10, 2023

Also known informally as a K1 form, a Schedule K-1 is a federal tax document that the IRS requires of partnerships. Two or more partners use a Schedule K-1 to report their share of profits, losses, and dividends. Startup businesses often are not aware of their obligation to provide the K1 tax form to their partners.

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CPA Practice

APRIL 17, 2023

The Readers’ Choice awards also give professionals the chance to see which technologies and workflow systems their peers are using and trust, which can help them build more efficient and profitable workflows for their own practice. We thank the more than 5,000 professionals who participated in voting this year.

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ThomsonReuters

AUGUST 2, 2022

By automating non-billable and low-value activities with a tax technology solution, your staff can shift their focus to proactive, value-added activities like providing advisory services. Plus, improved productivity and more strategic services can lead to increased profit. It enables your staff to: Reduce manual data entry.

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Going Concern

NOVEMBER 3, 2023

After cleaning up his act, Scott rebuilt his life using street smarts and hustle to work his way up at a small tax practice. Over time, he was able to purchase the firm and scale it into a profitable, million-dollar business. Scott leveraged his sales skills to land an entry-level role at a local tax firm. Three options.

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ThomsonReuters

NOVEMBER 15, 2023

Let’s take a look at the critical aspects of tax obligations for charities and nonprofits by shedding light on the key forms and regulations that guide their tax-exempt status and take stock of their financial operations. Do charities get tax exemptions? Donations to non-charity organizations (i.e.,

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xendoo

AUGUST 2, 2021

You may soon discover that tax preparation takes a considerable amount of time and attention, both of which could be better spent on growing your business. Modern CPAs can specialize in a variety of areas, including: Tax preparation. Non-profit or 501(c)3 organizations. What Does a Bookkeeper Cost?

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inDinero Tax Tips

FEBRUARY 10, 2023

Also known informally as a K1 form, a Schedule K-1 is a federal tax document that the IRS requires of partnerships. Two or more partners use a Schedule K-1 to report their share of profits, losses, and dividends. Startup businesses often are not aware of their obligation to provide the K1 tax form to their partners.

Tax 52

Tax tax return Non-Profits income tax 52

inDinero Tax Tips

FEBRUARY 10, 2023

Also known informally as a K1 form, a Schedule K-1 is a federal tax document that the IRS requires of partnerships. Two or more partners use a Schedule K-1 to report their share of profits, losses, and dividends. Startup businesses often are not aware of their obligation to provide the K1 tax form to their partners.

Tax 52

Tax tax return Non-Profits income tax 52

xendoo

APRIL 27, 2023

Form 1065 is an informational form for partnerships to declare their profits, losses, deductions, and business tax credits for the year. To the IRS, an informational form is one that does not calculate any tax due. There is no tax due with this form because partnerships are taxed as pass-through entities in the U.S.

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xendoo

APRIL 27, 2023

Form 1065 is an informational form for partnerships to declare their profits, losses, deductions, and business tax credits for the year. To the IRS, an informational form is one that does not calculate any tax due. There is no tax due with this form because partnerships are taxed as pass-through entities in the U.S.

tax return 52

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Snyder

OCTOBER 13, 2022

It also helps companies determine their profit margins and provides them with more flexibility when recording revenues. Well, previous standards were too broad, and businesses (and accountants, tax preparers) needed more specific guidance to comply with them. You may be wondering why this new standard exists.

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xendoo

OCTOBER 20, 2021

Your profitability depends on your ability to generate revenue and sustain growth over time. Non-profits. Tax preparation. As your business expands, you may discover that rising revenues and a changing customer base can place you in unique tax situations. Scaling as Your Business Grows. Forensic accounting.

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xendoo

AUGUST 2, 2023

Conversely, an online accounting firm can often provide experience in such areas as: Personal financial planning and assistance Forensic Accounting Managerial Accounting IT auditing Non-profits Tax Preparation Some of these tasks tend to be cyclical, such as your annual tax preparation.

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xendoo

AUGUST 2, 2021

Non-profits. Tax preparation. Some of these tasks tend to be cyclical, such as your annual tax preparation. Tax information. But when it comes to tax preparation or other financial audits, accuracy is indispensable. Forensic accounting. Managerial accounting. IT auditing. Procurement.

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Going Concern

JANUARY 4, 2024

Battle provides assurance services to clients in the real estate industry, including real estate funds, public non-traded real estate investment trusts, investment companies, and property management companies. Melton works in all areas of tax preparation and primarily focuses on individual, estate and trust preparation and planning.

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ThomsonReuters

JUNE 15, 2021

As the owner of Wood CPA, Angie brings a unique value above and beyond tax preparation with a specialty in not only tax services, but in business advisory and accounting. Or maybe you’re interested in helping non-profit firms manage their tax strategy.

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inDinero Tax Tips

MARCH 2, 2023

The following states have no state income taxes, and therefore no state capital gains taxes: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming Among the other 41 states, some are more favorable to capital gains than others.

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SkagitCountyTaxServices

JANUARY 28, 2021

The second round of the PPP, the expanded and more profitable “Employee Retention Credit” and various other options are all getting debated within business social groups, and that’s fine. The post Six Options For Skagit County Small Business Aid And Tax Savings appeared first on Padgett & Padgett, PLLC CPA's.

Tax 97

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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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Nancy McClelland, LLC

DECEMBER 23, 2022

As a result, many who sold personal items at a non-deductible loss might end up with unexpected tax filing requirements. Both would receive a 1099-K, but the second person isn’t running a business, and the loss isn’t deductible.

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xendoo

MARCH 17, 2022

The ecommerce platform that you use depends on your unique needs, but some features are non-negotiable. . A platform with features that allow you to centralize your business operations will significantly impact the stability and profitability of your business. Cost of Merchant Fees. For instance, returns can be expensive with Stripe.

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xendoo

AUGUST 30, 2023

You also retain all the profits and debts. If you’re borrowing higher amounts (over $50,000), you may need to show: Annual revenue and cash flow Years in business (some require two years minimum) Business plan Financial statements (balance, profit and loss, etc.) They also have specific requirements you must meet to be eligible.

bookkeeping 52

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xendoo

AUGUST 30, 2023

You also retain all the profits and debts. If you’re borrowing higher amounts (over $50,000), you may need to show: Annual revenue and cash flow Years in business (some require two years minimum) Business plan Financial statements (balance, profit and loss, etc.) They also have specific requirements you must meet to be eligible.

bookkeeping 52

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Going Concern

MARCH 24, 2023

Tax The IRS plans to tax some NFTs as collectibles — and the rich would pay up to 28% on profits [ CNBC ] The IRS said it plans to tax some non-fungible tokens, or NFTs, as collectibles akin to art or gems — an approach that would tax profits for wealthy owners at a higher rate relative to assets such as stocks, real estate and cryptocurrency.

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Nancy McClelland, LLC

DECEMBER 26, 2023

NEC” stands for “non-employee compensation”. Legally, no business should be using the non-business versions of these payment types… but in real life, many do. My recommendation (for many reasons) is to only use the business versions, and then the 1099-NEC is a non-issue (because Venmo and PayPal will issue a 1099-K instead).

bookkeeping 52

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Nancy McClelland, LLC

DECEMBER 26, 2023

NEC” stands for “non-employee compensation”. Legally, no business should be using the non-business versions of these payment types… but in real life, many do. My recommendation (for many reasons) is to only use the business versions, and then the 1099-NEC is a non-issue (because Venmo and PayPal will issue a 1099-K instead).

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Pooley Accounting Services

OCTOBER 7, 2021

When preparing job quotes, contractors should look at: Labor. Labor is the largest expense; misjudge labor costs, and your project moves from profit to loss. Indirect costs are non-project-specific costs such as office equipment and supplies. Factor in pay increases and overtime hours. Completed Contract.

Account 52

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inDinero Tax Tips

MARCH 2, 2023

The following states have no state income taxes, and therefore no state capital gains taxes: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming Among the other 41 states, some are more favorable to capital gains than others.

Tax 52

Tax income tax South Dakota tax return 52

SkagitCountyTaxServices

NOVEMBER 18, 2020

While I often address my “for profit” clients with these Notes, many of the same strategies (cost controls, marketing, growth, management) apply equally to those who are organized as non-profits. Many non-profit boards only meet once or twice a year. Ruth Gendler.

Non-Profits 53

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Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. As such it is important for business owners to take care that there is a reasonable expectation of profit.

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Accounting Today

APRIL 16, 2024

Clock ticks on 2020 returns; remembrances; what's ahead for marketing tech; and other highlights from our favorite tax bloggers.

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Ronika Khanna CPA,CA

APRIL 14, 2022

This is also true for spouses of small business owners who may only have a regular(non small business) tax return. It is important to keep in mind that while you will not incur any penalties as long as you submit your tax return by June 15th, CRA starts charging interest on any amounts payable after May 2nd.

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Accounting Today

SEPTEMBER 12, 2023

Future of contactless prep; reverse convenience; importance of the invoice; and other highlights from our favorite tax bloggers.

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Accounting Today

OCTOBER 24, 2023

The cost of free file; ERC withdrawals; making money year-round; and other highlights from our favorite tax bloggers.

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Going Concern

FEBRUARY 26, 2024

Check out the last one LOL: During its inspection, EY Canada disclosed to the PCAOB a number of potential areas of non-compliance related to independence, particularly related to financial relationships. Some related to non-audit services (such as legal services) to the audit client. million in tax loss to the IRS.

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xendoo

AUGUST 9, 2021

Accurate information from bookkeeping is not only necessary to know where your business stands financially at a given moment, but it is also essential for strategy planning, managing cash flow, and predicting profitability. . It is also necessary to meet government regulations and for proper tax preparation. Payroll and more.

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ThomsonReuters

JANUARY 9, 2024

The following is a guide to the most common questions current and prospective business owners have about C corp taxation and strategies for lowering a C corp’s tax burden. How are C corporations taxed? This means that a C corp’s profits are effectively taxed twice. What is “double taxation”?

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