ThomsonReuters

JUNE 29, 2022

We attended American Payroll Association’s (APA) annual Congress in Las Vegas, Nevada. It’s a nice feeling to share, learn, and, yes, sometimes commiserate, over all things payroll. More information on employment taxes, the lookback period, and deposit schedules can be found in Payroll Guide ¶4285.

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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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inDinero Tax Tips

JUNE 24, 2023

Business tax deductions – three words that can cause stress and confusion for even the most seasoned entrepreneurs. It’s no wonder that tracking and claiming tax-deductible business expenses falls by the wayside. In general, the IRS has this to say: “To be deductible, a business expense must be both ordinary and necessary.

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Snyder

FEBRUARY 7, 2023

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. What exactly are tax deductions?

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PYMNTS

MAY 1, 2020

Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal Revenue Service (IRS). . This treatment prevents a double tax benefit,” the agency said in the notice. This conclusion is consistent with prior guidance of the IRS.”.

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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?”. Digital download (ebook) Available at Amazon Tax Deductions: What types of expenses are deductible? There are specific rules with respect to tax deductions for clothing expenses.

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CPA Practice

JULY 19, 2023

A 529 is a tax-advantaged account into which parents – and anyone, really – can deposit money in anticipation of one day paying college expenses. Contributions are not federally tax-deductible, but many states do offer a state tax deduction. You can’t double-dip by getting the tax credit while paying with 529 money.

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