SkagitCountyTaxServices

APRIL 13, 2022

And it wasn’t THAT long ago that electronic spreadsheets were considered “a big advancement” in accounting technology. Businesses put away those old ledger books and took to smudge-free financial data entry. Tax deductibility. Small Business Accounting Software: The Skagit County Owner’s Guide. Size does matter.

small business accounting software 91

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MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government.

payroll 140

payroll payroll tax Tax income tax 140

FusionCPA

OCTOBER 1, 2020

Hence, for small business bookkeepers, your banking statement is one of the easiest ways they can gather information relating to your income, expenses, and cash flow. Your accountant can then use this data to formulate business plans, perform tax planning, and generate accurate financial reports.

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MyIRSRelief

JANUARY 3, 2022

With tax season coming up fast, our thoughts will soon be turning to our books and accounts, as we look to get all of our taxes in order so as to appease the wrath of the tax man. If you’re a small business owner, you will likely already be aware that employment 941 payroll trust fund taxes can cause monumental headaches.

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Nancy McClelland, LLC

JANUARY 12, 2025

It’s tax time, you’re digging through your records… and your preparer or tax software asks about tax payments you’ve already made. “What is an IRS Account Transcript and Why Do I Need One?” Initially, this was to confirm the amounts of stimulus payments and child tax credit payments.

Tax 52

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CPA Practice

NOVEMBER 20, 2023

(TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The business account is expected to help entrepreneurs save hours in doing tax research.

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SMBAccountant

JANUARY 27, 2022

When doing your taxes, there are a lot of things to keep track of. Here are five reasons why you should use a project management tool when doing your taxes. If you're struggling with managing your business finances while trying to do your business taxes yourself - give us a call!

Tax 130

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Insightful Accountant

MARCH 18, 2024

However, it requires careful planning and execution, which may seem daunting in busy accounting and tax practices. Implementing a four-day workweek can boost productivity by 77%, improve work-life balance, reduce absenteeism, and save costs.

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

Tax 130

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MazumaBusinessAccounting

SEPTEMBER 2, 2021

If you have specific questions about deducting office furniture, ask your accountant and they can determine what qualifies and how to categorize an item. For more business write-offs you will want to take advantage of, check out “ 17 Tax Benefits You Can Take Advantage of as a Small Business Owner.

Tax 97

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CPA Practice

FEBRUARY 24, 2023

Tax season is already in full swing and accounting firms across the country are working non-stop to meet the April filing deadline. However, many firms will struggle to keep their existing team busy when May rolls around and the last return has been filed. As a result, they’re forced to turn away new business in the spring.

accounting firms 128

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CPA Practice

SEPTEMBER 20, 2023

A new work group within the Large Business and International (LB&I) division will be tasked with holding large partnerships and other pass-through businesses accountable to pay the full amount of taxes they owe, the IRS said on Wednesday. that on average have over $10 billion in assets by the end of September.

income tax 122

income tax Tax audit tax return 122

MazumaBusinessAccounting

OCTOBER 15, 2021

Did you know you can deduct Halloween candy from your taxes? As a business, you can use Halloween candy as a tax write-off if you figure out a way to make it business-related. Attach your business card or a promotional flyer to packets of M&M’s and voila! Make it a party.

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Going Concern

MARCH 6, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

Tax 52

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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. Read on to find out.

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xendoo

MAY 26, 2021

You know that filing taxes can be stressful even in the best of times, but as a restaurant owner, tax time can leave you feeling in the weeds because your deductions are exponentially more complex. Set up a sound filing system where you can locate any tax documents you might need by vendor or category and keep it up to date.

Tax 98

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MazumaBusinessAccounting

JUNE 4, 2021

Whether you know it or not, you could be leaving hundreds—even thousands—of dollars on the table by missing a few lesser-known small business tax deductions. Avoid overpaying taxes this year by making sure you’ve reviewed all small business deductions to see if you qualify. Business-Related Meals and Entertainment.

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ThomsonReuters

DECEMBER 19, 2023

Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? To encourage this shift, the IRS offers a range of renewable energy tax credits for alternative energy sources like solar, wind, and geothermal power.

Tax 110

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CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. Dedicated tax-planning services are a must-have for most business owners, as the IRS’s tax codes are bloated with ever-newer reporting requirements.

Tax 104

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CPA Practice

AUGUST 28, 2024

CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. After voting by the awards committee panel each year, the top five products are presented as winners of the Tax and Accounting Technology Innovation Awards. In 2004, under the editorial leadership of Gregory L.

Technology 124

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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.

Tax 98

Tax Legal tax planning accounting and finance 98

Nancy McClelland, LLC

APRIL 11, 2023

It’s that time again… Tax Day is upon us and millions of taxpayers will need to have their returns extended for various reasons. The AICPA has released a “Tax Extension FAQ” for CPA members to share with their clients. Why does my CPA suggest we extend my tax return? • What are the primary benefits of extending my tax return? •

tax return 98

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ThomsonReuters

FEBRUARY 8, 2022

1) Communicate clearly to win new tax clients. When you seek to win new tax clients, it’s best to start at the beginning. With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you.

Tax 105

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Reckon

JUNE 21, 2022

Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. All you need is a few software tools…and two separate business bank accounts! (A

Tax 98

Tax income tax tax return accounting and finance 98

MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

Tax 100

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inDinero Tax Tips

OCTOBER 21, 2023

Knowing how to keep track of business expenses is key to visualizing cash flow and maximizing tax deductions, but finding a system that is simultaneously easy, efficient, and accurate is no easy task. Table of Contents What Exactly Is a Business Expense?

accrual accounting 105

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inDinero Tax Tips

AUGUST 29, 2023

Don’t Even Try Deducting These 13 Non-Deductible Business Expenses Frequently Asked Tax Deduction Questions Conclusion What Are the IRS Rules for Non deductible Business Expenses? There are many ways businesses can lower their tax liability. Frequently Asked Tax Deduction Questions Filing taxes isn’t fun.

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CPA Practice

NOVEMBER 10, 2023

But, every year, these businesses must also prove that they’ve kept track of sales and are correctly reporting their earnings. Enter the small business accountant. However, it provides an opportunity for business owners – and their accountants – to leverage new solutions that are both business and accounting-friendly.

Sales 100

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Xero

DECEMBER 20, 2022

HMRC has announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been delayed until April 2026. With small businesses, accountants and bookkeepers facing challenging times, we understand and support the delay from HMRC – giving you more time to prepare. . Why has this happened?

Tax 19

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MazumaBusinessAccounting

JUNE 30, 2021

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. How much will that deduction actually save you on your taxes?

Tax 98

Tax accounting and finance Education Finance 98

CPA Practice

JUNE 28, 2023

Benjamin Franklin famously wrote, “[I]n this world nothing is certain but death and taxes.” sets forth aspirational best practices that tax practitioners should consider. [Note: The following article was provided by the IRS Office of Professional Responsibility.]

Tax 98

Tax Legal accounting and finance accounted 98

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?

Tax 98

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CPA Practice

APRIL 13, 2023

(TNS) After months of anticipation, small businesses now have a glimpse of what a revamped Internal Revenue Service could look like as the agency begins to transition to a digital-first approach. For example, a new tool will allow business owners to respond to as many as nine notices online. That’s not all.

Tax 98

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Going Concern

OCTOBER 24, 2024

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

Real Estate 59

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Going Concern

NOVEMBER 27, 2024

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

Real Estate 52

Real Estate accountant accounted Account 52

CPA Practice

FEBRUARY 14, 2024

The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses.

Technology 126

Technology Construction accounting system payroll 126

LyfeAccounting

MAY 25, 2021

Quick Inflation Tax Explanation. And here on our blog, we’ve talked about a few of them such as PPP loans , EIDL loans , business grants you can get for your business, and so on. This free money coupled with a lack of production/supplies is what is leading to a hidden inflation tax in 2021. year over year. inflation rate.

Tax 87

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