Cannabis Tax & Accounting

MyIRSRelief

You need to get EA, CPA help with Cannabis Accounting & Tax if you are going to have a thriving cannabis-based business in Los Angeles or Southern California. Along with the accounting issues, it is one of the most heavily regulated industries in the country. Tax Help

Sales Tax Accounting Basics [+ Journal Entry for Sales Tax Examples] 

Patriot Software

When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting.

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Tax & Accounting Service – Preparation, Planning, Representation

MyIRSRelief

Tax Help? IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Audits. – Tax Liens.

Tax Account Review – TAR or Discovery

MyIRSRelief

For Los Angeles, and all over America, individuals or businesses who are concerned about the information they receive from the Internal Revenue Service (IRS) about their taxes, a tax account review – TAR may be the answer. What is a Tax Account Review or TAR, Discovery?

Nominations Extended to 6/22 for 2022 Tax & Accounting Innovation Awards

CPA Practice

The Tax & Accounting Technology Innovation Awards honor new technologies that help accounting firms and their small business clients operate more efficiently and profitably through improved workflow, increased accessibility, or enhanced collaboration.

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Why You Should Have Separate Bookkeepers and Tax Accountants

Basis 365

You have two options to achieve this goal: hire a professional or have a year-end accounting firm handle your bookkeeping. Technically, it's OK to ask an accountant for help with your daily books. This will allow you and your accountant to make better financial decisions.

Wolters Kluwer plants flag in Metaverse

Accounting Today

Wolters Kluwer Tax & Accounting Blockchain Technology

Kreston adds transfer pricing group

Accounting Today

Corporate taxes Tax strategies International taxes Accounting firm networks Tax

Tech News: Scaling New Heights expands

Accounting Today

Wolters Kluwer Tax & Accounting Technology Integrations Hardware and software

Tech News: OneStream touts machine learning solution

Accounting Today

Wolters Kluwer Tax & Accounting Business intelligence Machine learning Technology

Flinchum and Manchir to Discuss ESOP Tax, Accounting, and Valuation Practices at Annual Great Lakes Regional ESOP Conference

Katz,Sapper&Miller

Katz, Sapper & Miller’s Mark Flinchum and Andy Manchir will present at the Fifth Annual Great Lakes Regional ESOP Conference. Taking place Oct. 17-18 in Sandusky, OH, the conference brings together the Indiana, Michigan, Ohio, and Kentucky chapters of The ESOP Association to discuss current topics pertinent to the ESOP community

Converting From an LLC to a C-corp: Tax Implications to Consider

Shay CPA

We’ll give a brief overview of big-picture things to consider, then drill down into the tax implications. . It’s worth doing some research yourself and talking with your accountant and lawyer if you’re considering converting to a C-corp. What converting to a C-corp does to your taxes.

How to embrace and conquer change in accountancy

Accounting Insight

Change has taken many forms over the years for accountants. Today, the UK government’s mission is to create the most efficient digital tax system, Making Tax Digital (MTD), which has resulted in many accountants having to meet waves of change head-on.

Tax Return Backlog Exceeds 21 Million, Pulverizing the IRS and Taxpayers

KROST

million paper tax returns wait to be processed. million within the last 12 months despite continuous efforts to unclog the excess tax returns. The post Tax Return Backlog Exceeds 21 Million, Pulverizing the IRS and Taxpayers appeared first on KROST.

Tax Benefits for Founders: Qualifying Small Business Stock (QSBS)

Shay CPA

But the amount you’ll be able to pocket hinges on how you handle your taxes. Fortunately for you, Section 1202 of the Internal Revenue Code (IRC), also known as the “Partial Exclusion for Gain from Certain Small Business Stock,” can help you limit your tax liability.

Tax Deductions for Startups

Shay CPA

And tax deductions give you an excellent way to maximize your cash availability by minimizing the check you need to cut to the IRS. That way, if you suddenly have a profitable year, you know how to keep your resulting tax liabilities to a minimum. By Kacie Goff.

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Tech Company Tax Tips – by Akshay Shrimanker, CPA

Shay CPA

Getting ready for tax season isn’t most people’s idea of fun. As a result, a lot of people feel tension at the mere mention of the word “taxes.” If you want to make filing your 2021 taxes a breeze, put these best practices to work. . Leverage an accounting system.

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Get Your Tech Company’s Books Ready for Tax Time in 6 Steps

Shay CPA

You still need to get all of your taxes squared away. . Prepping for doing your taxes isn’t most founders’ idea of a good time. If you’re organized heading into your tax filing meeting with your CPA, things go more quickly and smoothly. Taxes (i.e. By Kacie Goff.

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What Types of Advertising/Marketing Expenses Can Small Businesses Deduct?

Ronika Khanna CPA,CA

You can buy ads on numerous social media outlets that appeal to your target market or if you want to go the free route, you can set up a social account, post regularly and build an audience. The detail in your chart of accounts depends on what line items are important to monitor and analyze.

Accounting Top 100 Social Media Leaderboard

Accounting Web

Sales Tax Accounting Top 100 Social Media Leaderboard

QuickBooks Clean Up To Reduce Taxes And Fees For Contractors

Randal DeHart

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with.

Deep Dive: How Not To Lose A Bundle On Bundled Taxes

PYMNTS

Merchants’ marketing departments may find bundling useful, but their accountants are less likely to see it positively — determining individual items’ tax obligations in the different states into which they are sold can be challenging, and putting offerings into bundles only magnifies complexities.

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Startup Tax Preparation Resources for 2021

BurklandAssociates

A new tax season is underway, and Burkland’s startup tax accountants are working with our clients to prepare. In this article, we share a roundup of helpful 2021 tax preparation Read More. The post Startup Tax Preparation Resources for 2021 appeared first on Burkland.

Tax & IRS Audit Help

inDinero

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. Some of them are easily avoidable with diligence and care in tax reporting. Help With an IRS Tax Audit.

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Choosing the right firm for your Business Bookkeeping Services

MyIRSRelief

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs.

Sales tax and accounting services

TaxConnex

It’s that time of year again when everyone suddenly thinks about preparing their income taxes. But does tax preparation incur sales taxes – and if it does, where and how? For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921).

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Los Angeles Business Bookkeeping Services – Choosing the right firm

MyIRSRelief

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Hopefully, by the time you get to the end of this article, we provided you with enough reasons to choose to go with a tax/accounting firm that offers the best Business Bookkeeping Services. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs.

Whittier 911 Urgent accounting help

MyIRSRelief

This article is for business owners who need emergency bookkeeping, accounting services to catch up on back years and unprepared books. When it comes to your business finances no one knows better than an accountant what you are going through. Bookkeeping & Accounting

Accounting Software for Accountants 2022: What to Look For

Accounting Seed

If you get a queasy feeling from thinking about adopting new accounting software as an accountant, you’re not alone. But remember, software and artificial intelligence (“AI”) haven’t eliminated the need for human accountants. Accounting Software For Accountants: The Benefits.

Connecting Timekeeping with Practice Management for Law Firms

KROST

KROST CPAs and Consultants, a tax, accounting, and consulting firm based out of Los Angeles, has launched KROST Business Intelligence (KBI) , offering dynamic insights into realization, staff utilization, project turnaround, and more. Pasadena, CA.

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Three Team Members Named to The Washingtonian’s Best Financial Advisers List

Withum

As tax accountants, their specialties include business tax , private client services , and estate planning and trusts. Withum is proud to share that The Washingtonian selected team members Joel Susco , Brian Wynne and Billy Thomas for their DC’s Best Financial Advisers list.

Tax Planning for a Business Sale: Factoring in Goodwill

CTP

However, in the world of tax accounting, goodwill refers to intangible assets that increase a company’s value. The post Tax Planning for a Business Sale: Factoring in Goodwill appeared first on certifiedtaxcoach.

Lost Accounting Data – Emergency Plan for Limited Company Contractors

Cheap Accounting

Some times accountancy data can be lost. They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. Company Accounts and Corporation Tax Return – annual filing. How to get a Business Tax Account.

Understanding use tax

TaxConnex

One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. Two types of use tax.

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KROST Predicts Another Record Year of M&A Advisory in 2022

KROST

KROST provides M&A expertise in valuation, deal negotiation, structuring, and financing, plus advice on the tax, accounting, and wealth management consequences of a transaction. “We

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Making Tax Digital for Income Tax Self Assessment: Our guide to Unique Taxpayer Reference numbers

Xero

It would be no surprise to learn that many accounting practices and their small business, landlord and sole trader clients are currently suffering from confusion from overuse of acronyms (CFOA). You need a UTR number to submit your tax return online for the current self-assessment process.

NJCPA Names Joe Breen a 2022 Emerging Leaders Ovation Award Winner

Withum

The New Jersey Society of Certified Public Accountants (NJCPA) has named Joe Breen a 2022 Ovation Award winner in the Emerging Leaders category. The Ovation Awards honors professionals who go above and beyond to advance the accounting profession in New Jersey.

What's new in May for state sales and use taxes

TaxConnex

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting.

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Letters to the Editor: CPAs Give Their Perspectives on Why No One Wants to Be an Accountant Anymore

Going Concern

Last week, we published a letter written to Fortune by a former CPA who pivoted to driving 18-wheelers and found far more career happiness than he ever would have in accounting (good for him). It wasn’t until 2015 that a woman became CEO of a Big 4 accounting firm for the first time.

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Press Release – KROST Posts Record Year of M&A Advisory in 2021, Expects Trend to Continue in 2022

KROST

KROST provides M&A expertise in valuation, deal negotiation, structuring, and financing, plus advice on the tax, accounting, and wealth management consequences of a transaction. “We

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Sales and Use Tax Updates from February

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The Sunshine State previously bet a lot on tourism revenue making up for not taxing internet sales – but the pandemic has wrecked that industry. Texas sales tax collections totaled $3.07

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Beyond tax season: creating revenue stability year-round

ThomsonReuters

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. Why revenue stability is important for small and mid-sized tax and accounting firms.

State Sales and Use Tax Update

TaxConnex

There’s always something changing or new going on in the world of tax, especially sales tax. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov.

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