Remove payroll Remove payroll tax Remove tax return Remove Transportation
article thumbnail

Trucking Tax & Accounting by Mike Habib, EA Los Angeles, CA

MyIRSRelief

Tax professionals, such as certified public accountants (CPAs), EAs enrolled agents and tax attorneys, can help you navigate the complex tax laws and negotiate with the IRS on your behalf. They can also help you prepare and file your tax returns, ensuring that they are accurate and complete.

article thumbnail

Business Expenses and Tax Deductions: Indinero’s Ultimate Guide

inDinero Tax Tips

Payroll Taxes : The employer portion of social security and Medicare payroll taxes are deductible business expenses. If you live in one city but commute to another for work, your tax home is the city where you work. Instead, these premiums may be eligible for deduction on an individual’s personal tax return.

Tax 80
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Small Business Tax Deductions Checklist: All You Need to Know About Tax Deductions

Snyder

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. According to statistics, the U.S.

Tax 98
article thumbnail

Tax Relief provided by CARES Act

MyIRSRelief

Tax filers must have provided, on the relevant tax returns or other documents (see below), Social Security Numbers (SSNs) for each family member for whom a rebate is claimed. Delayed payment of employer payroll taxes. Taxes that can be deferred include the 6.2% Employee retention credit for employers.

Tax 100
article thumbnail

Understanding Bookkeeping for Landscaping Business

Steve Feinberg

Many business owners make the mistake of considering bookkeeping only when taxes are due, but saving all of your important financial work for a single time during the year can lead to costly mistakes, incorrect tax returns and refunds, and missed opportunities for savings and effective budgeting throughout the year.

article thumbnail

Tax Credits You May Claim Now

MyIRSRelief

The American Opportunity Tax Credit (AOTC) is a tax credit that allows people who pay taxes to deduct up to $2,500 per year for four years of post-secondary education. You may get up to a 40% refund with your tax return if your credit is greater than the total taxes you owe. Small-business tax credits.

Tax 100
article thumbnail

Friday Footnotes: Looking Elsewhere For Talent; MPs Talk Private Equity Concerns; The Burnout Queen | 8.25.23

Going Concern

Grant Thornton appoints two new industry leaders [ Consulting.us ] Grant Thornton US has appointed Andrea Schulz as leader of its technology industry practice and Russell Norris as leader of its transportation industry practice. The mid-market accountancy also appointed new leaders for seven metropolitan markets.