CTP

APRIL 15, 2022

As news headlines proclaim stories of tax fraud, taxpayers may wonder how they can trust that their tax preparer is abiding by ethical practices. Known as Circular 230 , this publication contains the guidance needed for responsible and well-trained tax professionals to ensure they are making decisions in step with current tax law.

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CPA Practice

FEBRUARY 1, 2024

SMBs said they’re relying on credit cards as funding sources, while entrepreneurial hopefuls said even a bigger tax return could help them secure the funds they need to start their businesses. With the books closed on 2023, you can take a look back to help identify revenue generators and investments with good returns.

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CTP

OCTOBER 30, 2024

However, a family office is an expensive setup—even more so since a tax break that used to be available for family offices disappeared. Prior to the Tax Cuts and Jobs Act (TCJA), taxpayers with a family office could write off certain items like investment expenses and tax return preparation fees under “ miscellaneous itemized deductions.”

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inDinero Accounting

DECEMBER 1, 2023

We’ll also identify what the IRS officially regards as startup costs, so you can strategically time your expenses to maximize tax efficiency. Our List of Common Start Up Costs Start Up Costs Example Rita’s Doughnut Shop Start Up Costs Tax Treatment: How to Maximize Your Tax Expenses Conclusion Before You Start: How Much Do You Need to Save?

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CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software. By Dominique Molina, CPA MST CTS. There are many choices out there.

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PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. When [eCommerce companies] can’t get through the language barrier, the outcome is large-scale tax evasion, whether through ignorance, or whether through deliberate actions across the world.”.

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CTP

OCTOBER 2, 2023

Yet every year countless taxpayers overlook money-saving opportunities in the form of tax credits. Claiming tax credits is a surprisingly underutilized strategy. Currently, there are over 1200 different tax credits available, and unlike tax deductions, these credits provide a dollar-for-dollar reduction to your tax bill.

Tax 52

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CTP

SEPTEMBER 16, 2022

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. Tax credits are also available, resulting in an end-of-year refund.

tax planning 52

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CTP

SEPTEMBER 16, 2022

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. Tax credits are also available, resulting in an end-of-year refund.

tax planning 52

tax planning Tax Real Estate Education 52

PYMNTS

JANUARY 25, 2019

In terms of payments technology and alternative lending, B2C and B2B may be respectively seen as digital versions of the hare and tortoise. For those firms seeking access to credit, lenders will often start with the SMB principal’s FICO score or tax returns from the past few years, which can be an inefficient barometer of credit risk.

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CTP

JUNE 10, 2022

This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making. An S corporation might have accounts receivable, notes receivable, or tax receivable.

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CTP

AUGUST 3, 2023

However, without advance planning, taxes can subtract a large chunk of your profits. Savvy investors make decisions with the tax implications in mind, and use timing to their advantage to sidestep hefty tax bills. One of the simplest ways to reduce your taxes and improve your profits is to work with a Certified Tax Planner.

Tax 52

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CTP

NOVEMBER 23, 2023

One of the hidden benefits of setting up your business as a partnership is the ability to use special tax allocations. Because a partnership is a pass-through entity, income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates. What is substantial economic effect?

Tax 52

Tax tax return income tax tax planning 52

CTP

SEPTEMBER 27, 2024

The latest property tax bills are giving property owners a severe case of sticker shock—especially if they are still in the process of getting a new income-producing property to actually produce income! If you own a commercial property, you may find yourself hustling to cover the cost of your recent tax bill.

Tax 52

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CTP

DECEMBER 8, 2022

The many tax loopholes available can make this an attractive source of income—but first-time property owners may feel uncertain about taking advantage of these tax breaks. By enticing taxpayers with tax benefits, more people are able and willing to make this sizable financial investment. Looking to invest in real estate?

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CTP

DECEMBER 28, 2023

are sold in other countries, you may qualify for a special tax incentive called the interest charge domestic international sales corporation or IC-DISC. The IC-DISC is an election created by the IRS to help American companies become more globally competitive by lowering their federal tax liability.

Tax 52

Tax Sales income tax tax return 52

CTP

DECEMBER 28, 2023

to foreign countries, you will want to familiarize yourself with this tax incentive: the interest charge domestic international sales corporation, more commonly known as the “IC-DISC.” This IRS election can allow some or all of the taxable income from your export sales to be taxed at a lower rate. Who Qualifies for an IC-DISC?

Tax 52

Tax Manufacturing Agriculture Sales 52

CTP

AUGUST 10, 2023

Swarms of “ERC mills” have been making grand promises to taxpayers—but they provide very few details on how to ensure you actually qualify for this lucrative tax credit. So what do employers need to know about this tax credit? Tax-Exempt Organizations. What if your organization is tax-exempt?

Tax 52

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CTP

MAY 12, 2023

When you use a vehicle for business, the tax benefits available go beyond the date of purchase. For instance, you may have heard the advice that “ if you own a business, you’re married, and your spouse has a car, just drive their car occasionally so you can claim their vehicle on your business tax return.”

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CTP

MAY 10, 2023

The Internet abounds with incorrect interpretations of the rules around vehicle tax deductions. Saving on taxes by using your car for business sounds convenient and appealing, but understanding the actual guidelines is key for this strategy to be effective. What steps do you need to take to gain tax savings for your business vehicle?

Tax 52

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CTP

MARCH 20, 2023

Trusting a Certified Tax Coach for guidance as you create your business plan ensures nothing is left to chance. You will review the pros and cons of each business entity, then make a deliberate decision that benefits you when it is time to file your taxes. However, from a tax perspective, there are several significant drawbacks.

Legal 52

Legal income tax tax return Tax 52

CTP

MARCH 20, 2023

Trusting a Certified Tax Coach for guidance as you create your business plan ensures nothing is left to chance. You will review the pros and cons of each business entity, then make a deliberate decision that benefits you when it is time to file your taxes. However, from a tax perspective, there are several significant drawbacks.

Legal 52

Legal income tax tax return Tax 52

PYMNTS

DECEMBER 23, 2019

There are also significant opportunities in the business-to-business (B2B), business-to-consumer (B2C) and government-to-business (G2B) arenas, with Visa Direct having already been utilized for such use cases as tax returns, insurance disbursements and loan distributions.

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PYMNTS

DECEMBER 19, 2016

Chetty and his team did that by gaining access to the anonymized tax returns of people in their mid-30s over a 40-year period between 1940 and 1980. Today, B2C advertising is increasingly a data game served by ad platforms to consumers toting digital devices who spend most of their time with their noses inside of social networks.

Retail 88

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CTP

NOVEMBER 25, 2022

We’re tax advisors. So, not surprisingly, we’re going to tell you about the most tax-advantageous way to start saving for college. Saving for college through a 529 plan can simultaneously help you reach your college savings goals and reduce your taxes. As your money grows, you’re not taxed on the income your plan returns.

Education 40

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CTP

MARCH 2, 2022

Without careful planning, your beneficiaries could find themselves with a hefty tax bill. A tax expert can help you a) minimize estate taxes and b) generate sufficient liquidity to satisfy estate expenses. In 2021, the federal estate tax does not apply to individual estates worth less than $11.7 Lifetime Giving.

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PYMNTS

JANUARY 10, 2019

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. B2C disbursements account for more than 3.5

Tax 48

Tax income tax B2C tax preparation 48

CTP

NOVEMBER 21, 2024

Investing in a tax plan can feel like a risk for taxpayers who are used to filing their own tax returns or focusing on basic compliance. In theory, you may see the benefits of a proactive approach where you implement strategies that will result in tax savings years down the line. What if the investment doesn’t pay off?

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CTP

JANUARY 17, 2025

Though working with a Certified Tax Planner is the best way to ensure you are prepared, you can begin the process by orienting yourself to the answers to each of these questions below. This is true no matter what your income is, so you must be prepared to defend each claim made on your tax return. What are Common Audit Triggers?

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