xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

business tax 98

business tax Tax tax return tax preparation 98

RogerRossmeisl

JUNE 25, 2021

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). The post 2022 Amounts for Health Savings Accounts appeared first on Roger Rossmeisl, CPA. In addition, the sum of the annual deductible and other annual.

accountant 143

accountant accounted Account CPA 143

CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

tax accountant 126

tax accountant business tax Tax accountant 126

Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. Business Tax Services.

Tax 121

Tax Manufacturing tax return tax services 121

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. . When filing taxes, knowing the deadlines is an essential part of being organized and prepared.

business tax 98

business tax Tax tax preparation tax return 98

RogerRossmeisl

SEPTEMBER 25, 2022

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. If you expect to be in a higher tax bracket next year, opposite strategies may produce better results. Here are some other ideas that may help you save tax dollars if.

tax planning 207

tax planning Tax business tax CPA 207

RogerRossmeisl

JANUARY 2, 2023

January 17 (The usual deadline of January 15 is on a Sunday and January 16 is a federal holiday) Pay the final installment of 2022 estimated tax. Farmers and fishermen: Pay estimated tax for 2022. January 31 File 2022 Forms.

Tax 242

Tax CPA business tax 242

Withum

JUNE 1, 2022

This could be a surprise to many taxpayers and may only get worse through the 2022 taxable year. billion in taxes for the industry in 2022. When choosing what permissible method could be used going forward when electing out of LIFO, taxpayers should confirm they are not eligible for small business inventory exceptions.

business tax 119

business tax Tax income tax tax return 119

Reckon

JUNE 13, 2022

EOFY 2022 is coming up fast which means tax time is looming…. If you’re a business owner, the ATO requires entities of all sizes to file their tax documentation before 30 June 2022. Try our EOFY 3-month free trial offer of Reckon One which is only available until 1 July 2022. Key tax dates.

Tax 98

Tax tax return Start-ups income tax 98

RogerRossmeisl

JULY 16, 2022

The tax agency announced an increase in the optional standard mileage rate for the last six months of 2022. Taxpayers may use the optional cents-per-mile rate to calculate the deductible costs of operating a vehicle for business.

CPA 245

CPA Tax business tax 245

RogerRossmeisl

APRIL 21, 2022

For example, if you’re self-employed and set up a SEP-IRA, you can contribute up to 20% of your self-employment earnings, with a maximum contribution of $61,000 for 2022. If you’re in the 32% federal income tax bracket, making a maximum contribution could cut what you owe Uncle Sam for 2022 by a whopping $19,520 (32% times $61,000).

Tax 245

Tax income tax CPA Account 245

RogerRossmeisl

SEPTEMBER 29, 2024

The changes apply to qualified alternative fuel vehicle refueling property placed in service after 12/31/2022, and before 01/01/2033. The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property.

CPA 262

CPA Tax cpa firm business tax 262

RogerRossmeisl

APRIL 24, 2023

April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations pay the first installment of 2023 estimated income taxes.

Tax 239

Tax income tax tax return CPA 239

SkagitCountyTaxServices

AUGUST 19, 2022

Though that said, there does seem to be some easing on both of these fronts – and not necessarily because of the “Inflation Reduction Act” (more on that and business tax deductions in a minute). It can be difficult to see your way through it all and keep your business afloat. Business Tax Deductions: Meals and mileage.

business tax 92

business tax Tax Real Estate CPA 92

RogerRossmeisl

DECEMBER 15, 2022

As posted to IRS.gov as Tax Tip 2022-117 on 8/2/2022 A business might pay an independent contractor and an employee for the same or similar work, but there are key legal differences between the two.

CPA 235

CPA Legal Tax cpa firm 235

Ronika Khanna CPA,CA

JANUARY 3, 2022

I have compiled a list of deadlines for all unincorporated small business owners which includes sole proprietors and self employed individuals. Download our free small business tax deadline calendar for 2022. Note that the usual deadline for sales tax (GST/HST and QST) payments and income tax returns is April 30th.

business tax 52

business tax Tax income tax tax return 52

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 insurance .

business tax 97

business tax Tax Education tax preparation 97

RogerRossmeisl

NOVEMBER 13, 2022

In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. 401(k) plans The 2023 contribution limit for employees who participate in 401(k) plans will increase to $22,500 (up from $20,500 in 2022).

CPA 232

CPA business tax Tax 232

Xero

JULY 7, 2022

We were honored to be on the ground at NABA’s Annual Convention last month as a sponsor of their 2022 scholarship program, which has provided over $375,000 in scholarships to their students. . This summer, I am working at Deloitte as a Business Tax Services Intern in their Chicago office.

Iowa 97

Iowa accounting and finance Illinois bookkeeping 97

RogerRossmeisl

JANUARY 21, 2024

The changes apply to qualified alternative fuel vehicle refueling property placed in service after December 31, 2022 and before January 1, 2033. The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property.

CPA 258

CPA Tax cpa firm business tax 258

RogerRossmeisl

MAY 16, 2022

Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).

Entertainment 245

Entertainment CPA Tax Government 245

RogerRossmeisl

JUNE 5, 2022

Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported. Businesses and workers in certain industries may receive more of these forms and some people may even get them based on personal transactions.

CPA 245

CPA business tax Tax 245

RogerRossmeisl

NOVEMBER 13, 2022

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax.

Hospitality 245

Hospitality CPA Tax business tax 245

RogerRossmeisl

OCTOBER 12, 2021

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” rates that became effective October 1, 2021. Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home.

Transportation 246

Transportation CPA business tax Tax 246

RogerRossmeisl

FEBRUARY 5, 2023

The IRS recently announced that the 2023 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 65.5 In 2022, the business cents-per-mile rate for the second half of the year (July 1 – December 31) was 62.5 cents per mile, and for the first half of the year (January 1 – June 30), it was 58.5

CPA 246

CPA business tax Tax 246

RogerRossmeisl

AUGUST 6, 2023

July 31 Report income tax withholding and FICA taxes for second quarter 2023 (Form 941) and pay any tax due. File a 2022 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Tax 246

Tax income tax CPA business tax 246

RogerRossmeisl

FEBRUARY 20, 2023

The total value of M&A transactions in North America in 2022 was down 41.4% If you’re considering buying or selling a business, it’s important to understand the tax implications. Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy.

Tax 245

Tax CPA business tax 245

RogerRossmeisl

AUGUST 6, 2023

For 2023, the SE tax is imposed at the painfully high rate of 15.3% for Social Security tax and 2.9% for Medicare tax. The $160,200 Social Security tax ceiling is up from the $147,000 ceiling for 2022, and it’s only going to get worse in future years, thanks to inflation. additional Medicare tax, on all income.

Tax 245

Tax CPA business tax 245

RogerRossmeisl

FEBRUARY 20, 2023

Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that are subject to Social Security tax is capped for 2023 at $160,200 (up from $147,000 for 2022). Deductions Section 179 expensing: Limit: $1.16 million (up from $1.08 million) Phaseout: $2.89

Tax 243

Tax CPA business tax 243

RogerRossmeisl

NOVEMBER 28, 2021

For calendar-year taxpayers, that is March 15, 2022. Logistics of PTE Tax Payments / K-1 Recipient Credits Prior to. The post Recent FTB Clarifications on Pass-Through Entity Tax (AB-150) appeared first on Roger Rossmeisl, CPA.

Tax 242

Tax CPA California cpa firm 242

TaxConnex

JULY 15, 2021

Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. 1, 2022, though, all retailers must apply the destination sourcing rules when calculating, collecting and remitting state sales tax.

Sales 219

Sales Tax Louisiana North Carolina 219

RogerRossmeisl

APRIL 24, 2023

R&E expenses The TCJA has affected many businesses, including manufacturers, that have significant R&E costs. Starting in 2022, Internal Revenue Code Section 174 R&E expenditures must be capitalized and amortized over five years (15 years for research conducted outside the United States).

Manufacturing 234

Manufacturing CPA Tax business tax 234

RogerRossmeisl

JULY 17, 2022

Although merger and acquisition activity has been down in 2022, there are still companies being bought and sold. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law.

Tax 229

Tax income tax CPA business tax 229

Withum

SEPTEMBER 6, 2022

The deduction for the 2022 taxable year was $1.88 In 2022, the company’s §179D deduction is limited to $376,000 (200,000 x $1.88). For more information on this topic, please contact a member of Withum’s Business Tax Services Team. per square foot. The company has not previously claimed the §179D deduction.

Construction 80

Construction tax services business tax Tax 80

Snyder

OCTOBER 30, 2022

Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. The answer is ‘yes’ if you approach the upcoming 2023 tax filing deadline for the Tax Year 2022 preparation wisely. How much do small businesses pay in taxes?

tax preparation 98

tax preparation E-commerce Tax income tax 98

xendoo

MARCH 17, 2022

Halting operations to research every tax-saving opportunity is not realistic – let Xendoo do it for you! In this blog post, we will share popular small business tax deductions that you may be able to claim for the 2021 tax year! For future reference, the mileage rate for 2022 is 58.5 Let’s get started.

business tax 59

business tax Tax bookkeeping Education 59

Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Contact Us. Let’s Chat.

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tax return corporation tax Tax tax services 128