Nancy McClelland, LLC

APRIL 11, 2023

My note: Your small business accounting file needs to be tied out to source documents and all adjustments booked before we will finalize a return, and there may be delays in this process due to a variety of issues. My note: I’d like to add that we take filing extensions for our clients very seriously.

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ThomsonReuters

FEBRUARY 8, 2022

Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need. Respondents also indicated interest in receiving other services from their accounting firms.

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LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of.

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues.

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xendoo

JANUARY 11, 2021

They know they’re probably making mistakes and missing opportunities that a pro would spot right away, but they don’t know if accounting services will save more than they cost. “How much do accountants charge for year-round bookkeeping services?” Tax return (incorporated) — $800 to $1,800. Hourly Rates.

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CPA Practice

SEPTEMBER 6, 2023

From the advent of first-to-market generative AI systems like ChatGPT, to highly specialized, accounting-focused systems, proponents of AI are fervent in their belief that the technologies will dramatically improve client services, firm management, small business accounting and many other areas of operations.

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LyfeAccounting

JULY 11, 2021

Because once you fully understand the foreign earned income exclusion and then the foreign tax credit… …you’re going to hopefully put together a tax plan that will allow you to balance your tax outcomes with your lifestyle. And this type of tax planning is exactly what we want to start helping people with.

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CPA Practice

APRIL 22, 2024

Host Informative Workshops: Organize free, educational workshops on financial wellness, tax planning, or small business accounting. Consider creating video walkthroughs on how to prepare for end-of-year tax returns or quick tips for managing summer business expenses.

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LyfeAccounting

MARCH 16, 2021

Remember, if you need more guidance with your business tax preparation , tax planning , or tax filing, LYFE Accounting got you covered. We offer various tax services so be sure to get in touch with us today at 470-240-1437. The post NEW Tax Deduction: Business Meals are 100% Deductible in 2021!

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LyfeAccounting

MAY 24, 2021

And there are more aggressive thoughts that want the tax credits to continue indefinitely. Can You Opt-out Of The Monthly Child Tax Credits? How Does It Affect Your Tax Planning? Now as we touched on earlier, we can’t forget that these are tax credits. Contact us today!

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xendoo

MARCH 18, 2021

They can answer your questions about financial reports, cash flow, depreciation, and other accounting processes and identify opportunities to improve profit margin and business growth. Certified Public Accounts can be the financial strategist for Fortune 500 companies or advisors to neighborhood businesses.

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LyfeAccounting

OCTOBER 23, 2020

In fact, as a CPA, I’ve helped businesses and individuals save on their taxes through tax planning. With tax planning, I go over the ins and outs of a taxpayer’s situation. I review all sources of income and major life circumstances, and come up with legal ways to save them thousands in taxes.

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LyfeAccounting

JUNE 9, 2021

If you want more tips on how to save on your taxes, then go ahead and subscribe to our newsletter. Or, you could also seek the help of professionals for your tax planning , tax preparation , and even for tax resolution needs. Talk to us today!

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LyfeAccounting

FEBRUARY 14, 2021

In small businesses, CPAs might help you select the best entity, hire your first employee, tax plan, create a budget, set your pricing, prepare financial projections, or oversee your books. They also tax plan which means they can help you craft a plan to actually lower your taxes legally through the tax law.

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CPA Practice

AUGUST 28, 2024

The advent of artificial intelligence and machine learning have also started to have a dramatic impact on the practice of public accounting and business management, and we are continuing to see an increased adoption of practical operational uses for these professionals. Instead is truly innovating how taxes are done.

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LyfeAccounting

APRIL 30, 2021

You can be taxed as a sole proprietor which is usually the default and results in a lot of SE taxes. You can be taxed as an S-Corporation or even a C-Corporation as well. Electing to be taxed as an S-Corporation, is not exactly a tax write off, but it is a tax planning strategy.

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LyfeAccounting

MAY 3, 2021

But if you have any questions regarding your specific tax situation, give us a call today. We have expert tax consultants , tax planning , and tax preparation services that you can hire for your personal and business taxes. The post Tax Credits vs Tax Deductions: Which One Is Better in 2021?

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LyfeAccounting

OCTOBER 29, 2020

And if you need any help with your tax preparation , tax planning , or if you want to consult a tax expert , our team here in LYFE Accounting got your back. The post Tax on Stocks (The $$$ saving TRUTH REVEALED) appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

NOVEMBER 17, 2020

The extra cost is well worth it, if you’re avoiding big tax penalties that come with missed deadlines. #3 3 Tax Plan. As a business owner, there are ways to minimize your overall tax liability. Businesses must pay all taxes, and employees pay all taxes except unemployment taxes.

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LyfeAccounting

JULY 2, 2021

That’s why working with a tax expert is recommended. Here at LYFE, we offer tax preparation , tax planning , and tax resolution services to help you with your taxes. Get in touch with us today to learn more about these.

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LyfeAccounting

JUNE 17, 2021

So we hope this was a helpful child tax credit portal update for everyone. Again, for your tax planning , tax preparation , and tax resolution needs, our LYFE savers are always ready to help. Simply contact us today!

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LyfeAccounting

MAY 13, 2021

And if you want to save more on your taxes, we have just the perfect solution for you – our tax planning and tax preparation services! The post How to Avoid the Capital Gains Tax on Real Estate Home Sales appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

APRIL 27, 2021

Well, if you need help with your business tax planning and tax preparation to make sure you’re not paying more than you need to, then get in touch with us today. The post Why a Big Tax Refund is Not a Good Thing appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

JANUARY 14, 2021

The easiest way to calculate your estimated taxes is to divide your tax liability from the previous year by four – something a tax professional would do for you. Now if you’re considering outsourcing your tax planning or tax preparation needs, you’re in the right place! Let us help you too!

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LyfeAccounting

DECEMBER 7, 2020

We provide a number of financial solutions to businesses like yours- from tax preparation , to tax planning , to accounting , to bookkeeping , and to CFO services , we’re here to help! Contact us now at 470-240-1437.

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LyfeAccounting

MAY 18, 2021

More importantly, for you as the business owner, it would be nearly impossible to know where your business stands financially without segmenting your business and personal finances. You can open a business account at any major banking institution. Tax Mistake #2: Not paying quarterly estimated tax.

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LyfeAccounting

OCTOBER 28, 2020

As you can probably tell from the title – 5 year end tax tips, in today’s post, I’ll be going over tax tips and specifically year-end tax tips that will save you on your tax bill! Now I know the pure thought of taxes is not exactly fun. Won’t I just end up paying tax on it later?”.

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LyfeAccounting

APRIL 28, 2021

And if want real savings from your taxes, our tax planning , and tax preparation services is just what you need. The post Vehicle Tax Deduction: 8 Cars You Can Get Basically for Free appeared first on Small Business Accounting & Finance Blog. You will end up with a big loss.

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LyfeAccounting

MARCH 10, 2021

CPAs are best at providing… almost ALL accounting services, Seriously, CPAs were tested on all facets of accounting including: bookkeeping , tax preparation , tax planning , budgeting, pricing, …and even more technical stuff that we’re sure you’re not interested in. The post What are CPA Services?

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LyfeAccounting

NOVEMBER 9, 2020

However, if your business earns over a reasonable salary for your own work, then electing to file as a S-Corporation may be worth considering. Again, this is simplified information, but if you want to weigh the pros and cons of this, you can contact us to create a custom tax plan for you. Tax Benefit #3: Tax Write-Offs.

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LyfeAccounting

OCTOBER 12, 2020

You see, a good CPA or CPA firm can help you with the following things to make sure your business is in great financial health: Cash Flow & Expense Management. Accounts Payable & Receivables. Tax Planning. Tax Audits. Budget Planning. Financial Monitoring. Bookkeeping. Budget Review.

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MyIRSRelief

NOVEMBER 19, 2021

The small-business accounts for tax credit is a great way for your business to grow.

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LyfeAccounting

SEPTEMBER 15, 2020

Whereas in LLCs or partnerships, the government does collect “medicare and social security taxes” hypothetically, through the self-employment tax. As you can see, your entity structure largely determines your overall tax liability, and if you need help navigating this, then we’d be happy to help you craft a tax plan.

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LyfeAccounting

JUNE 4, 2021

Now if you want to make sure your LLC taxes are on the right track, then we can help you with that. Check out our tax planning and tax preparation services here. The post How to Pay Yourself As An LLC – CPA Explains the #1 Method appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

JUNE 2, 2021

A complete guide to amending your tax return. Again, if you need any help with your tax preparation , tax planning , or tax resolution , get in touch with us today. The post Amended Tax Return: How to File Form 1040X Step-by-Step appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

NOVEMBER 16, 2020

Yet there is still confusion for many small businesses about how the PPP loan will affect their future. It’s likely you won’t know if your loan is forgiven and by how much until 2021, which will have some serious implications for your tax planning and financial reporting. Tax Deductibility.

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LyfeAccounting

NOVEMBER 3, 2020

Every year, more than 2 million taxpayers overpay their income taxes. This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. Meanwhile, the top 1% are using the tax law to their advantage to minimize their tax liability, oftentimes leaving us clueless….

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