CPA Practice

JANUARY 18, 2024

In today’s fast-paced world, you are constantly juggling between client needs, regulatory demands, and staying abreast of ever-changing tax laws. I’ve even thrown in a PPC/CPC campaign bonus tip to top things off. Update your social media bios, especially LinkedIn and Google Business. Ready to check taxes of your to-do list?

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CPA Practice

JANUARY 31, 2024

citizen and business owner, I really don’t have a problem with paying the taxes I owe. trillion, net , in federal taxes in 2022) goes toward everything from education, transportation and the country’s defense to Social Security, health care and veterans’ benefits. I understand the money the IRS collects (about $4.3

Tax 126

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Menzies

APRIL 18, 2024

The off-payroll working rules, or IR35 as it’s commonly referred to, have been around for some time. The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee.

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MazumaBusinessAccounting

APRIL 18, 2023

One of the perks of being a small business owner is the tax deductions you can take advantage of, including how to write off a business trip or vacation. To begin, you need to understand your trip needs to have a business purpose for it to be eligible as a tax deduction.

Tax 52

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MazumaBusinessAccounting

SEPTEMBER 2, 2021

The Internal Revenue Service (IRS) understands that office furniture is a vital aspect of running a business, so they allow business owners to deduct those expenses from their taxable income. First, the IRS only allows you to deduct $5,000 worth of furniture if you are just starting your business. Office Furniture.

Tax 97

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CPA Practice

APRIL 11, 2023

Suppose your small business will be short-staffed this summer. Frequently, the spouse of a small business owner pitches in when needed, but without any pay. Frequently, the spouse of a small business owner pitches in when needed, but without any pay. The benefit is tax-free to your spouse.

Education 131

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CPA Practice

FEBRUARY 19, 2024

(TNS) This tax season, more entrepreneurs are looking to cash in on their work-from-home habit. Now, after investing in at-home monitors, standing desks, and Zoom-background-worthy bookshelves, they are discovering there’s a tax break for that—and giving their accountants a call. And nothing else. Everything adds up over time.”

Tax 116

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MazumaBusinessAccounting

JUNE 30, 2021

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. How much will that deduction actually save you on your taxes?

Tax 98

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CPA Practice

JUNE 13, 2023

Last Friday, the IRS’s Chief Counsel’s office released a memo stating that donations made to nonprofit NIL collectives are not tax exempt. Donors could write off their contributions, which the collectives took in then dispersed to athletes in exchange for their work with local charities. Last month, U.S.

Tax 104

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CPA Practice

MAY 7, 2023

This included small business owners who regularly burn the midnight oil. Normally, you may be eligible for home office deductions if you’re self-employed or you operate your business as an S corporation or partnership. The rent is deductible by the company as a business expense. It depends.

payroll tax 124

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Reckon

MAY 9, 2023

What was the mood of small businesses ahead of the budget? As we revealed by our study last week of 290 small businesses: Inflationary pressure is considered the biggest concern for Australian SMBs with 92% seeking relief measures in the 2023-24 federal budget. Let’s unpack it. The budget revealed a $14.6

Healthcare 98

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CPA Practice

APRIL 22, 2024

Host Informative Workshops: Organize free, educational workshops on financial wellness, tax planning, or small business accounting. Enhance Social Media Engagement: Share helpful summer tax tips, reminders for quarterly taxes, or fun posts about your team enjoying summer activities.

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CPA Practice

DECEMBER 19, 2023

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. 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.

Rhode Island 116

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Xero

JUNE 8, 2023

So if you’re looking to do the same (and tackle tax time while you’re at it), below are a few simple tips to consider ahead of the ‘23 year-end. Hire a tax pro to save yourself time and money Every small business owner needs a helping hand at tax time – especially retailers – who are notorious for wearing many hats.

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xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. .

business tax 97

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VetCPA

SEPTEMBER 8, 2022

Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Recording everything is an excellent rule to follow for bookkeeping and accounting for a small business. You don’t record every expense, even the small ones.

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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 is a 100% tax deduction?

Tax 98

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CPA Practice

MARCH 1, 2023

The Tax Blotter highlights recent federal income tax news. Tax Blotter 022423 Generally, small business owners who use their automobile for business driving are entitled to deduct expenses based on the vehicle’s use, but there are plenty of twists and turns along the way. Drive a tax bargain.

Tax 52

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Ronika Khanna CPA,CA

JUNE 23, 2023

One of the more unpleasant aspects of being a business owner is having to chase clients that do not pay. Some of these include: Performing a Credit Check on Customers to ensure that they pay their business and are not regularly delinquent Charging a retainer, which is paid up front.

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xendoo

NOVEMBER 2, 2021

When making a major purchase for your business, you are expected to spread the tax deduction out over the lifespan of that purchase, which provides small tax savings over the years. Business owners can take advantage of Bonus Depreciation and Section 179 to invest in their businesses, resulting in an enormous tax break!

Tax 98

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Patriot Software

NOVEMBER 8, 2022

Sometimes, it’s hard for small business owners to catch a break. But, if you made large purchases for your company this year, you might be able to deduct them on your tax return. You can write off expenses by choosing the safe harbor election for small taxpayers. What is a safe harbor?

tax return 52

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Accounting Insight

MARCH 8, 2024

No matter how well-prepared you and your clients are, the end of the tax year is always a busy time. Here’s a quick rundown of what you need to know and what you need to sort out before the new tax year begins. So the new tax year will require a cut in class 4 from 9% to 6% – quite a move.

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Xero

MARCH 2, 2023

There’s still an old-fashioned perception, with little understanding of how you support small businesses and the wider economy. Our report found the biggest of these to be an uncertain regulatory landscape, the need for increased digital agility and demonstrating value to small businesses.

Account 96

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xendoo

JUNE 30, 2021

As a small business owner, you juggle multiple roles… bookkeeping, human resources, marketing, and all that goes into running your business every day. At Xendoo, we love bookkeeping, accounting, and tax. We are honored and love the opportunity to work with small business owners across America. .

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? While the average mean salary for accountants in the U.S. Tesla Korea was subjected to 25.1

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MazumaBusinessAccounting

JANUARY 27, 2022

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. How much will that deduction actually save you on your taxes?

Tax 52

Tax Education Transportation Finance 52

Reckon

MAY 2, 2022

In this year’s federal budget, amid the headlines and electioneering, came some important tax breaks for small businesses to incentivise the uptake of new technology. There were in fact two separate tax incentives announced, one designed for business technology purchases and one for skills and training.

Technology 98

Technology Tax Education CPA 98

LyfeAccounting

APRIL 22, 2021

We’ve all heard it before… Amazon paid $0 in taxes while making over 11 billion dollars in profit. And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. This basically means Amazon got a federal tax refund for millions of dollars. Must be nice, right?

Tax 52

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LyfeAccounting

APRIL 30, 2021

Today, we’ll be going over the top 5 write offs you could be taking for your LLC this year, next year, and the next year after that. All to save you the most on your taxes. Top 5 Tax Write Offs for New LLCs. Most small business owners run their business from their home anyway.

Tax 52

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LyfeAccounting

NOVEMBER 3, 2020

Every year, more than 2 million taxpayers overpay their income taxes. This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. In this post, I’m going to give you BIGGEST tax write-offs for small businesses.

Tax 52

Tax tax return business tax accounting and finance 52

SkagitCountyTaxServices

AUGUST 26, 2021

One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. This week is no exception. ” – John W.

business tax 64

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inDinero Tax Tips

NOVEMBER 16, 2021

There are many tax benefits to installing solar panels, some of which will be well in excess of your tax liability. However, a small business cash flow doesn’t have to be an obstacle to going green. For small businesses looking to go solar, it makes sense to partner with a tax equity investor in solar.

Tax 52

Tax accounting and finance business tax tax preparation 52

inDinero Tax Tips

NOVEMBER 16, 2021

There are many tax benefits to installing solar panels, some of which will be well in excess of your tax liability. However, a small business cash flow doesn’t have to be an obstacle to going green. For small businesses looking to go solar, it makes sense to partner with a tax equity investor in solar.

Tax 52

Tax accounting and finance business tax tax preparation 52

SkagitCountyTaxServices

AUGUST 11, 2022

Before I dive into discussing the pros and cons of a C corp , I briefly want to touch on some other things relevant to you as a Skagit County small business owner. And as you anticipate it, you don’t have to wait idly for it to hammer your business. Now, last week, I gave you an overview of the various business entity types.

income tax 80

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CTP

MAY 10, 2023

The Internet abounds with incorrect interpretations of the rules around vehicle tax deductions. Saving on taxes by using your car for business sounds convenient and appealing, but understanding the actual guidelines is key for this strategy to be effective. This can unfortunately affect tax planning down the road.

Tax 52

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Steve Feinberg

FEBRUARY 28, 2022

What Is A Tax Deduction? . Tax deductions (sometimes referred to as “write-off’s”) are expenses you make on behalf of your business throughout the year, the total of which can be subtracted from your final tax payment. Business Meals. . Advertising. . Home Office. .

Tax 52

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Ronika Khanna CPA,CA

SEPTEMBER 15, 2023

Investment in capital items such as computers, furniture, equipment and cars can cause confusion for small business owners. Since these are purchases that affect the cash flow of the business, it seems that they should be accounted for as expenses similar to office supplies or rent.

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