RogerRossmeisl

FEBRUARY 23, 2022

If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest tax. Therefore, even if a joint return results in less tax, you.

tax return 245

tax return Tax CPA 245

RogerRossmeisl

MAY 15, 2023

If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still crop up about the return. At a minimum, keep tax records related to your return for as long as the IRS can audit your return or assess additional taxes.

tax return 241

tax return Tax audit CPA 241

RogerRossmeisl

AUGUST 4, 2023

But there may be an advantage: You may qualify for a tax break for paying the premiums. Premiums count as medical expenses For purposes of claiming an itemized deduction for medical expenses on your tax return, you can combine premiums for Medicare health insurance with other qualifying medical expenses.

tax return 241

tax return Tax CPA 241

RogerRossmeisl

MAY 1, 2022

In Fact Sheet 2022-25, the IRS has provided information about how taxpayers should handle non-tax and tax-related identity theft. When a taxpayer believes their personal information is being used to file fraudulent tax returns, they should submit a Form 14039, Identity Theft Affidavit, to the IRS.

tax return 246

tax return Tax CPA 246

RogerRossmeisl

JANUARY 19, 2022

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. Business returns are already being accepted.) You can potentially protect yourself from tax identity theft — and there may be other benefits, too.

tax return 244

tax return Tax income tax CPA 244

RogerRossmeisl

FEBRUARY 25, 2024

If so, it’s important to determine if you’re required to file a 2023 gift tax return. The annual gift tax exclusion has increased in 2024 to $18,000 but was $17,000 for 2023. The post Get Ready for the 2023 Gift Tax Return Deadline appeared first on Roger Rossmeisl, CPA. Who must file?

tax return 204

tax return Tax CPA 204

RogerRossmeisl

AUGUST 6, 2023

If you’re one of the entrepreneurs, you may not know that many of the expenses incurred by start-ups can’t be currently deducted on your tax return. You should be aware that the way you handle some of your initial expenses can make a large difference in your federal tax bill. The post Starting a Business?

tax return 231

tax return Tax Start-ups CPA 231

RogerRossmeisl

OCTOBER 27, 2024

One effective way to reduce potential estate taxes and show generosity to loved ones is by giving cash gifts before December 31. Under tax law, you can gift a certain amount each year without incurring gift taxes or requiring a gift tax return.

Tax 264

Tax tax return CPA Finance 264

RogerRossmeisl

OCTOBER 20, 2024

It’s an essential question for tax purposes. You may think you can deduct that loss on your personal federal income tax return with no questions asked. The IRS often claims that money-losing sidelines are hobbies rather than businesses — and the federal income tax rules for hobbies aren’t in your favor. Not so fast!

income tax 264

income tax tax return CPA Tax 264

RogerRossmeisl

DECEMBER 29, 2024

HSA basics For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Employees cant be enrolled in Medicare or claimed on someone elses tax return. Here are the key tax benefits: Contributions that participants make to.

Tax 259

Tax tax return CPA accountant 259

RogerRossmeisl

OCTOBER 13, 2024

As appearing at the IRS web page entitled “IRS Audits” An IRS audit is a review/examination of an organization’s or individual’s books, accounts and financial records to ensure information reported on their tax return is reported correctly according to the tax laws and to verify the reported amount of tax is correct.

audit 264

audit tax return CPA Tax 264

ThomsonReuters

DECEMBER 4, 2024

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. Prepare and review the tax return 4. File electronically and track the return 5. Review deduction and credit opportunities 3.

tax return 52

tax return business tax accounting firms Tax 52

TaxConnex

JUNE 12, 2025

April’s federal Form 1040 probably comes first to mind when anyone thinks about tax returns. As your business starts to sell into more states, though, you’re going to need to file another type of form: states’ sales tax returns. Since there is no federal sale tax , sales tax is left up to states.)

130

130

TaxConnex

JUNE 10, 2025

It’s just sales tax. There are nuances beyond putting numbers on a sales tax return. There are 50 different state sales tax systems and 50 different sets of laws and rules. No ‘additional task’ Sales tax compliance is not a value-added responsibility for you: It’s a tax-collection responsibility imposed on you.

Sales 147

Sales Tax tax return general ledger 147

LSLCPAs

JANUARY 9, 2025

Yet, for many individuals and businesses, poor accounting practices lead to unnecessary stress, missed opportunities, and even costly tax consequences. If youve ever felt overwhelmed by your financial records or rushed to prepare your tax return at the last minute, this.

tax return 52

tax return business tax Tax Account 52

FraudFiles

APRIL 14, 2025

Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets.

tax return 52

tax return forensic accounting business tax Tax 52

Xero

MAY 28, 2025

If the thought of lodging your tax return makes your palms sweaty and you find yourself procrastinating to avoid the inevitable, youre not alone. Xeros latest research has found nearly three quarters of Australians are worried or anxious about tax time this year. For Australias 2.6 The survey was carried out online.

tax return 56

tax return Tax tax preparation accounting and finance 56

ThomsonReuters

DECEMBER 4, 2024

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms.

tax return 52

tax return income tax accounting firms Tax 52

RogerRossmeisl

MARCH 23, 2025

If youre getting ready to file your 2024 tax return and your tax bill is higher than youd like, there may still be a chance to lower it. If youre eligible, you can make a deductible contribution to a traditional IRA until this years April 15 filing deadline and benefit from the tax savings on your 2024 return.

tax return 147

tax return CPA Tax 147

MyIRSRelief

NOVEMBER 1, 2024

The main advantage of an S Corporation is that it allows income, losses, deductions, and credits to pass through to shareholders for federal tax purposes. This means that the business itself is not taxed at the corporate level. This means that the corporation’s income is not subject to corporate tax rates.

tax preparation 130

tax preparation tax planning corporation tax Tax 130

TaxConnex

JANUARY 7, 2025

Where was the sale made (and did it incur sales tax based on destination or origin )? When was the return made? What was returned? What extra charges were involved in the return? Have you already filed your sales tax return based on the original amount of sales tax charged?

Sales 147

Sales Rhode Island Tax tax return 147

MyIRSRelief

APRIL 11, 2025

However, amidst the hustle and bustle, tax issues can arise, creating stress and financial strain for taxpayers. Whether its unfiled tax returns, back tax debt, 941 payroll tax issues, IRS levies, garnishments, or audits, these challenges can feel overwhelming. However, ignoring the problem only makes it worse.

payroll tax 130

payroll tax Tax tax return payroll 130

MyIRSRelief

OCTOBER 11, 2024

Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Personal Tax Preparation Personal tax preparation is one of the most common services provided by Enrolled Agents. This service involves preparing and filing individual tax returns, ensuring that all income, deductions, and credits are accurately reported.

tax services 130

tax services payroll tax Tax tax preparation 130

TaxConnex

JULY 18, 2024

Bad Debt Most states allow a deduction for bad debts written off for Federal income tax purposes. Miscellaneous Adjustments Any adjustments taken on your tax return should have supporting documentation. Most companies keep this documentation along with a copy of the filed return.

audit 264

audit Sales Tax tax return 264

Accounting Today

MARCH 7, 2025

Everyone knows tax pros don't make mistakes, but it can't hurt to doublecheck for these mistakes before filing.

tax return 124

tax return Tax 124

CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

accounting firms 116

accounting firms Account accounted accountant 116

CPA Practice

OCTOBER 28, 2024

File a Final Tax Return When dissolving a business, one of the key steps is filing the last federal, state and local tax returns. Any outstanding tax obligations must be paid. If applicable, final payroll tax returns must also be filed and payroll accounts closed, as well as any sales tax.

tax return 116

tax return payroll tax payroll Legal 116

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. Or at least half-in. 57% of accounting firms plan to increase fees across all services in 2025.

cost accounting 115

cost accounting accounting firms Account accounted 115

Xero

NOVEMBER 18, 2024

Simple and efficient: Xero streamlines partnership tax management by bringing everything into one platform, making it easy for the whole team to use and collaborate on tax returns together. Use Xero Tax for more of your clients: Xero Tax is designed to make it easy to prepare accounts and tax where your clients are using Xero.

Tax 98

Tax tax return bookkeeping Account 98

TaxConnex

FEBRUARY 13, 2025

Sales tax debates One of the largest Native American nations is The Navajo Nation, which in recent years has undergone some changes in sales tax. The Navajo Nation has a sales tax of 6% for all retail sales within The Navajo Nation. Quarterly sales tax returns are due 45 days after the end of each calendar quarter.

Sales 213

Sales Tax Wisconsin Oklahoma 213

CPA Practice

NOVEMBER 16, 2024

Reporting and documenting QCDs For 2024, QCDs should be reported on the 2024 tax return. Individual Income Tax Return , or Form 1040-SR, U.S. Tax Return for Seniors. in early 2025 documenting IRA distributions. The full amount of any IRA distribution goes on Line 4a of Form 1040, U.S.

tax return 114

tax return income tax Tax 114

TaxConnex

JANUARY 9, 2025

Less than that and most businesses qualify as a small supplier and dont have to register, though those businesses may have to file a Canadian income tax return. A manual application can be submitted online or by mail, fax or phone to the appropriate Non-Resident Tax Centre (TC).

Sales 147

Sales Tax tax return income tax 147

CPA Practice

FEBRUARY 20, 2025

To avoid mistakes and potential processing delays, taxpayers should refrain from filing until they have received all necessarytax documents. Taxpayers should always carefully review documents for inaccuracies or missing information.

income tax 129

income tax tax return Tax 129

CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov. District Judge Tilman E.

tax preparation 97

tax preparation Georgia tax return Tax 97

CPA Practice

OCTOBER 23, 2024

An IP PIN is a six-digit number that prevents someone else from filing a federal tax return using a taxpayer’s Social Security number or Individual Taxpayer Identification Number. IP PIN users must use this number when filing their federal tax returns for the current calendar year and any previous years filed during that same period.

tax return 105

tax return Tax online accounting tax preparation 105

Withum

DECEMBER 18, 2024

Form 8275 is used by taxpayers to disclose positions taken on tax returns for which substantial authority does not exist. Substantial authority is defined as a tax return position that has more than a 40% chance of success based upon its merits.

tax return 105

tax return Legal Tax 105