LyfeAccounting

JUNE 18, 2021

There has been a 50% increase from 2019 in flagged tax refunds due to potential identity fraud. billion in losses in 2019 by stopping refunds from getting in the wrong hands. But once you do, you’ll be able to access your IRS account online and perform different activities like verifying your identity with them.

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LyfeAccounting

APRIL 15, 2021

Those who do have to submit extra docs typically are asked for 2019 taxes and 4506-Ts and look to be new businesses or bad credit. So, if you need more guidance with your business’ finances, here at LYFE Accounting, we offer financial advisory services as well. What Documents are Needed?

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LyfeAccounting

JUNE 29, 2021

If you have an IRS account or ID.me account, all you have to do is sign in and you’re good. If you don’t have an IRS account yet, then sign up and verify your identity by providing a photo identification. But for now, remember you are automatically enrolled if you: Filed a 2019 or 2020 tax return with the child tax credit.

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LyfeAccounting

JANUARY 20, 2021

Note that you will want to speak to your accountant or lawyer for specific advice regarding your specific situation. There are two ways to demonstrate a 25% or greater reduction in gross revenue: First, you can compare any quarter in 2019 with a comparable quarter in 2020. aka PPP loan 2021. How big of a PPP loan can I receive?

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PYMNTS

JUNE 23, 2019

A new report from ScaleFactor found that most businesses with fewer than 500 employees are reporting revenue increases, while separate analysis from KeyBank reveals about half of SMBs say they have the finances in place to fuel that growth. plus a bit of insight from the U.K. 24 percent of U.K.

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LyfeAccounting

JUNE 24, 2021

Answer: In the scenario where your 2020 tax return has not processed yet, the IRS will use your 2019 tax return for all payments dates until it is processed. If you did not file your 2019 or 2020 returns, you will need to file them. Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.

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LyfeAccounting

JUNE 17, 2021

You claimed all your dependents on your 2019 return, including by reporting their information in 2020 using the non-filers enter payment info here tool; or. Bank account information (if you have one). You just want to start creating an accounting and putting in all your information. Current mailing address. Email address.

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LyfeAccounting

MARCH 11, 2021

Here’s how the tax credit works: 30% credit for systems placed in service by December 31, 2019. 26% credit for systems placed in service after December 31, 2019, and before January 1, 2021. We offer various tax solutions for small businesses and individuals so don’t hesitate to contact us today!

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LyfeAccounting

JULY 1, 2021

Before 2019, the payer of alimony was able to deduct the payments from their income, and the receiving spouse didn’t need to include the payments in their income at all. If you have more questions about your taxes, then work with our accountants for business taxes today. And, we also offer tax resolution services.

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LyfeAccounting

MAY 24, 2021

If you haven’t done 2020 taxes yet, then the IRS will use your 2019 taxes. So, if you receive your tax refund or pay your tax liabilities with bank account information then this is likely what they will use to send the payments to. But, that account stays active as long as you want to receive the credit payments.

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LyfeAccounting

MAY 27, 2021

This would eliminate the tax penalties they added to your account. From there, they can look up your account and remove the additional fees. Don’t bring up 2020 tax concerns when 2019 is the tax year in question. Even if your 2020 return has the same issues as 2019, only address what their letter addresses.

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LyfeAccounting

JUNE 2, 2021

As an accounting firm, we’ve filed our fair share of amended tax returns. The IRS began accepting electronically filed 1040-X forms in 2020 for 2019 and 2020 returns if the original return was also electronically filed. The third way is by using an accounting firm like LYFE Accounting to prepare and submit your 1040-X on your behalf.

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LyfeAccounting

APRIL 8, 2021

In 2019, the IRS audited 0.4% The post IRS Audit Red Flags & Triggers: How the IRS Catches You appeared first on Small Business Accounting & Finance Blog. Let’s take a look at some data to back this up. of all individual tax returns. of people with income over 1 million were audited.

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LyfeAccounting

JANUARY 19, 2021

Just a little disclaimer though, this post is not financial advice and we always recommend you consult with your specific accountant or lawyer. The borrower must demonstrate that there was a 25% reduction from the gross receipts of the entity during the same quarter in 2019. And if you have an existing PPP loan. That is not the case.

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LyfeAccounting

APRIL 22, 2021

For instance, in Georgia alone, where LYFE Accounting is headquartered, the State provides an enormous amount of credits to help and encourage entrepreneurs to start a business and create jobs. In fact, Georgia even publishes an annual 20-page brochure with all of the reasons to start a business here. And we don’t blame them.

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PYMNTS

OCTOBER 30, 2019

Open banking jumped onto the financial services scene with a focus on enabling consumer-facing FinTech platforms to connect with their users’ bank account data. The model quickly gained traction and today is accelerating its expansion into B2B financial services, too. Open Banking Targets Corporates.

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LyfeAccounting

FEBRUARY 24, 2021

Here’s how the tax credit works: 30% credit for systems placed in service by December 31, 2019. 26% credit for systems placed in service after December 31, 2019, and before January 1, 2021. The post Best Tax Breaks: 12 Most-Overlooked Tax Breaks & Deductions (2021) appeared first on Small Business Accounting & Finance Blog.

Tax 52

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LyfeAccounting

NOVEMBER 17, 2020

It is not meant to take the place of legal and accounting advice specific to your business. For example, for the 2019 tax year, this was Georgia’s tax bracket. appeared first on Small Business Accounting & Finance Blog. I’m also going to give you some tips to help you in your journey.

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Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

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PYMNTS

NOVEMBER 25, 2020

In an effort to assist small business owners in Britian on a greater scale, small business accounting software company FreshBooks has teamed with Barclays to offer joint offerings to customers in the country. The news comes after FreshBooks teamed with Three UK, the telecom and mobile service firm, in 2019.

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PYMNTS

MARCH 12, 2019

Les Whiting, chief financial services officer at small business FinServ firm Wave , explained in a recent interview with PYMNTS that the M&A strategy enables service providers to facilitate the data connectivity that small business owners need to manage finances.

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