RogerRossmeisl

FEBRUARY 24, 2021

Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than two months (unless you file an extension). Below are some Q&As about tax amounts for this year.

Tax 219

Tax tax return CPA 219

TaxConnex

JANUARY 21, 2021

If your online company looks to expand its interstate sales in 2021, know one thing: Your plan involves risks and new responsibilities. The key is learning how to manage both, as sales tax non-compliance or errors can bring stiff penalties. Charging and collecting sales tax in an increasingly large number of states.

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Sales Tax tax return audit 219

RogerRossmeisl

JUNE 3, 2021

In recent months, there have been a number of tax changes that may affect your individual tax bill. Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. Your 2021 return will be due in April of 2022.

Tax 246

Tax tax return CPA 246

RogerRossmeisl

JANUARY 11, 2022

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. However, it’s a good idea to acquaint yourself with tax amounts that may have changed for 2022.

Tax 246

Tax tax return CPA 246

RogerRossmeisl

APRIL 21, 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. See June 15. (See

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Tax income tax tax return CPA 246

RogerRossmeisl

DECEMBER 14, 2021

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick strategies that may help you trim your taxes before year-end. Certain tax deductions are claimed for the year of payment, such as the mortgage interest deduction.

Tax 246

Tax tax return CPA tax planning 246

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.

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RogerRossmeisl

SEPTEMBER 17, 2021

By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax. The exclusion amount for 2021 is $15,000. The exclusion covers gifts you make to each recipient each year.

Tax 238

Tax tax return CPA 238

TaxConnex

FEBRUARY 27, 2024

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. There were about 1.65

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TaxConnex

DECEMBER 28, 2021

And that means that more companies may find themselves with new sales tax obligations. More than $1 in every $4 spent on retail purchases during the 2021 holiday season will come from online orders, by some estimates (with about two out of every five of those done via a smartphone, other industry observers add ). billion in U.S.

Sales 246

Sales Tax audit tax return 246

RogerRossmeisl

NOVEMBER 29, 2021

Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses A pre-tax contribution of $2,750 to a health FSA is permitted in 2021.

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TaxConnex

JULY 15, 2021

There’s always something changing in the world of tax, especially sales tax. 1, 2022, though, all retailers must apply the destination sourcing rules when calculating, collecting and remitting state sales tax. Marketplace sellers that properly remitted tax can file a claim for credit. As of Feb.

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CPA Practice

JUNE 15, 2023

The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, according to a new report from the Treasury Inspector General for Tax Administration. 105 taxpayers didn’t receive all of their eligible child tax credit, estimated at $139,000. This process uncovered 3.8

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xendoo

JANUARY 25, 2021

Wage and Tax Statement for Full- and Part-Time Employees). Information Return by Employers to the IRS on Form 1099s Issued to Independent Contractors). S Corporation Tax Filing. for a calendar tax year). March 15 Submit Form 1120S Income Tax Return. Partnership Tax Filing. for a calendar tax year).

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RogerRossmeisl

MARCH 14, 2021

If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing date and benefit from the tax savings on your 2020 return.

tax return 246

tax return CPA Tax 246

RogerRossmeisl

NOVEMBER 17, 2021

Here are the basic tax rules involved in these transactions. But for 2021 under a COVID-19 relief law, you’re allowed to claim a limited deduction on your tax return for cash contributions made to qualifying charitable organizations. This deduction increases to $600 for a married couple filing jointly in 2021.

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tax return CPA Tax 235

Withum

APRIL 12, 2022

The tax due date for most individual tax returns this year is April 18. If you are unable to complete your return to file by April 18, you can file for an extension to submit your return by October 17. However, the extension does not cover the payment of the tax due.

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RogerRossmeisl

FEBRUARY 21, 2022

But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? The requirements To prove a charitable donation for which you claim a tax deduction, you need to comply with IRS substantiation requirements. It depends.

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income tax tax return CPA Tax 243

Xero

JUNE 16, 2022

So, to help small businesses in need of a little respite, we’re excited to announce that Xero’s Emotional Tax Return competition is back for 2022! . By inviting you – small business owners (that’s advisors too) – to submit an Emotional Tax Return claim. The hidden costs of running a small business in 2022.

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TaxConnex

JANUARY 30, 2024

Every now and then something comes along that transforms sales tax. States’ definitions of a “marketplace facilitator” vary almost as much as states’ sales tax laws themselves. States seem to believe that marketplace facilitators – most of which are much larger than most retailers – constitute a rich source of tax revenue.

Iowa 264

Iowa Pennsylvania Illinois Sales 264

RogerRossmeisl

JANUARY 14, 2021

In IRS Tax Tip 2020-80, the IRS explained new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. For 2020 tax returns, the due date is February 1, 2021.

California 210

California tax return CPA Tax 210

LyfeAccounting

MARCH 19, 2021

Where is my tax refund? This is a question we get asked all the time when our clients have done everything right and yet they still haven’t received their tax refund. Well in this post, we want to help eliminate all of the questions and confusion around: Where your tax refund is? What Stage Your Tax Refund Is?

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MyIRSRelief

MAY 19, 2023

With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems. Contact us for tax help today.

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New York payroll tax payroll audit 147

Nancy McClelland, LLC

MARCH 29, 2022

To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.

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Withum

MARCH 24, 2022

While I understand that movies require us to suspend our disbelief, as a self-confessed tax nerd, I just can’t ignore the flagrant disregard of tax rules. So, with the 2021 individual tax filing deadline coming up, it had me wondering, is America’s favorite comic book and movie hero a tax cheat? Author: Scott W.

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RogerRossmeisl

DECEMBER 28, 2020

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make qualifying for a medical expense tax deduction difficult for many people to qualify. This threshold amount is scheduled to increase to 10% of AGI for 2021.

Tax 143

Tax tax return CPA 143

Withum

MARCH 2, 2022

With the kickoff of the 2021 tax season, many taxpayers are gathering their information and trying to determine how recent legislative changes may apply to them when filing their 1040. One of these changes was to the Child Tax Credit. What is the Child Tax Credit? The IRS will be sending you a Letter 6419 in the mail.

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Tax tax return online accounting Account 122

ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. Other deadlines are: January 17, 2022 : 4th quarter 2021 estimated tax payment due.

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Tax tax return corporation tax tax planning 111

PANALITIX

NOVEMBER 30, 2020

YOU WANT in 2021. Accounting businesses are thinking ahead to 2021… and Panalitix is fortunate to be working closely with many of them in North America, Europe, Australia and New Zealand. Specifically, they want to work with clients who VALUE their skills and insights, rather than ‘checking tax returns’. LEARN MORE.

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xendoo

NOVEMBER 9, 2021

With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . Get prepared for tax season with these small business tax deductions that may apply to your business. .

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Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. PPP EIDL ERC FFCRA SVOG R R F. Paycheck Protection Program (PPP).

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Tax tax return income tax corporation tax 126

TaxConnex

APRIL 6, 2021

There’s always something changing in the world of tax, especially sales tax. And 2021 continues to prove that. The Alaska Remote Seller Sales Tax Commission has approved its “Remote Seller Sales Tax Code & Common Definitions” that would apply to local municipalities in Alaska that choose to adopt it.

West Virginia 147

West Virginia Sales Nebraska Alaska 147

xendoo

NOVEMBER 1, 2021

You might not be thinking about taxes until closer to the deadline, but planning your eCommerce tax deductions is a year-round process. If you run an online business, investing in tax-deductible business expenses can reduce your tax burden and increase your profits. Property taxes. Homeowner’s insurance.

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CPA Practice

FEBRUARY 3, 2023

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits.

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CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

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CPA Practice

JANUARY 31, 2022

The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers. holidays impact tax deadlines for everyone in the same way federal holidays do. By law, Washington, D.C.,

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RogerRossmeisl

MAY 7, 2021

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. If you still aren’t ready to file your return, you should request a tax-filing extension. This will extend the filing deadline until October 15, 2021. You need to estimate and.

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tax return CPA Tax 143