Accounting Today

OCTOBER 17, 2024

With the November election mere weeks away, there is still time for tax pros to ponder the strategies available to meet the proposals of each candidate.

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business tax Tax 124

RogerRossmeisl

JULY 14, 2021

And you may be able to: Shift your high-taxed income into tax-free or low-taxed income, Realize payroll tax savings (depending on the child’s age and how your business is organized), and Enable retirement plan contributions for the children.

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RogerRossmeisl

JANUARY 12, 2023

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

California 240

California Tax tax return CPA 240

RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas.

California 237

California Tax tax return CPA 237

ThomsonReuters

DECEMBER 4, 2024

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. Gather and organize client documents The first step in efficiently filing a business tax return is collecting all necessary documentation.

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TaxConnex

JUNE 17, 2021

California: For adult use retail sales there is a statewide 15% excise tax as well as a statewide sales tax rate of 7.25%. Local sales tax rates apply as well. Additionally, local jurisdictions can levy an additional “business tax” or excise tax of up to 15%.

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MyIRSRelief

OCTOBER 11, 2024

If you’re searching for an “Enrolled Agent near me,” you’re likely looking for someone who can provide a wide range of tax services. Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Business Tax Preparation Business tax preparation is another critical service offered by Enrolled Agents.

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Accounting Today

JULY 23, 2024

Individuals and businesses in the affected counties now have until next Feb. 3 to file various federal individual and business tax returns and make tax payments.

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CPA Practice

APRIL 28, 2024

Understanding business taxes Federal law requires all individuals, including small business owners, to pay taxes on all income earned. This typically involves making quarterly estimated tax payments for small business owners and self-employed individuals. Self-employment tax.

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inDinero Tax Tips

OCTOBER 22, 2024

Table of Contents LLCs Are “Pass-Through” Entities LLC Taxes in Nevada Nevada Commerce Tax Frequently Asked Questions Conclusion The Entrepreneur’s Guide to Tax Saving Strategies Fill out the form to download your guide to find out how you can pay less in taxes Click Here LLCs Are “Pass-Through” Entities LLCs aren’t taxed directly.

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MyIRSRelief

MAY 1, 2024

Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon. This article dives deep into the critical role of tax professionals for small businesses.

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Withum

JULY 10, 2024

The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes. SB 167 suspends the net operating loss (NOL) deduction for tax years beginning on or after Jan. 1, 2024, and before Jan.

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TaxConnex

JULY 15, 2021

The Maryland Comptroller has issued a revised version of Business Tax Tip #29 , which clarifies the Comptroller’s interpretation of its sales and use tax on “digital products,” including software.

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MyIRSRelief

APRIL 29, 2024

By providing a combination of tax planning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. Get business tax & bookkeeping help by contacting us today!

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CPA Practice

JUNE 9, 2024

CPA Practice Advisor managing editor Isaac O’Bannon visited with many of these companies to discuss how their solutions can help practices be more productive, efficient and profitable. Here is a selection of these technologies.

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CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

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Accounting Today

DECEMBER 12, 2024

The Internal Revenue Service is adding more features to the Tax Pro Account, Business Tax Account and Individual Online Account, and starting a new enforcement campaign.

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Withum

AUGUST 14, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Contact Us The post IRS Extends Tax Deadlines for Hurricane Debby Victims in the Southeast appeared first on Withum.

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MyIRSRelief

DECEMBER 1, 2023

A C Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C Corporations, named for the subsection of the IRS code that governs them, have a distinct tax structure that differs from other business entities. Call us today at 1-877-78-TAXES [1-877-788-2937].

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MyIRSRelief

NOVEMBER 17, 2023

The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through to the owners’ personal income tax returns, thereby avoiding double taxation. We assist in business tax compliance, preparation, planning and representation.

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Withum

DECEMBER 6, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post Federal Court Temporarily Blocks Enforcement of Corporate Transparency Act Nationwide appeared first on Withum.

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CPA Practice

DECEMBER 19, 2023

Interest rates are determined every three months and can vary based on type of tax; for example, individual or business tax liabilities. These notices and letters were previously paused due to the pandemic and high inventories at the IRS but will gradually resume during the next several months,” the IRS said.

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CPA Practice

AUGUST 19, 2024

The IRS is strongly urging qualifying businesses, tax-exempt organizations, and state, local, and Indian tribal governments to complete the pre-filing registration process now for projects placed in service in 2023 if they plan to claim elective pay.

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Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. Or at least half-in. 57% of accounting firms plan to increase fees across all services in 2025.

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Withum

JUNE 28, 2024

Ryan Bixenman is the tax team leader of the Special Purpose Acquisition Company Services Team. Tyler Collins is the market leader of Withum’s R&D Tax Credit Services and is an expert in complex tax regulations. Kerra Diener is a seasoned business tax expert dedicated to helping clients achieve their financial goals.

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Withum

FEBRUARY 1, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post House Passes Tax Relief Act With a Decisive Bipartisan Vote appeared first on Withum. This article was originally published by Lynn Mucenski Keck in Forbes on February 1, 2024.

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CPA Practice

JULY 8, 2024

(TNS) The IRS announced tax relief for individuals and businesses in parts of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides and mudslides that began on April 2, 2024. 1, 2024, to file various federal individual and business tax returns and make payments.

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Going Concern

APRIL 5, 2024

Allegedly Haynes’ clients got at least $40 million in tax refunds from his filings, a portion of which he received as a fee and often in cash at his request. The IRS also allegedly directly mailed Haynes multiple tax refund checks totaling $1,428,592 based on false claims he submitted relating to his businesses.

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CPA Practice

FEBRUARY 7, 2024

Any business or accounting firm that filed using paper methods but should have filed electronically may receive fines, so it is essential to contact the IRS , their accountant, or their 1099 service provider.

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Withum

DECEMBER 18, 2024

Meet our team and let us cross the tax provision off your to-do list, so you can focus on the things that matter the most. Author: Karin Salmeri | ksalmeri@withum.com Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

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CPA Practice

OCTOBER 7, 2024

4—Federal officials have announced tax relief for people and businesses in the Yakama Nation affected by summer wildfires that began June 22. 3, 2025, to file various federal individual and business tax returns and make tax payments, according to a news release from the IRS. (TNS) Oct.

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Withum

MARCH 7, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post Landscape of Employee Retention Credit Tax Issues appeared first on Withum. This article was originally published by Daniel Mayo in Forbes on February 23, 2024.

Tax 126

Tax income tax tax return audit 126

RogerRossmeisl

SEPTEMBER 29, 2024

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law.

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Tax income tax CPA business tax 259

RogerRossmeisl

APRIL 24, 2024

As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use.

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Withum

JULY 31, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Our ERC team at Withum has prepared hundreds of ERC claims and has represented more than 60 taxpayers in ERC audits. Let us know if we can help with your ERC claim or audit. appeared first on Withum.

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CPA Practice

SEPTEMBER 3, 2024

Most employers already use the Electronic Federal Tax Payment System (EFTPS) to make their federal tax deposits and business tax payments. Because these payments can easily be made either by phone or online, EFTPS offers an especially convenient option when a disaster may displace businesses and their employees.

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Withum

AUGUST 28, 2024

Essentially, each tax authority expects a piece of the profit to compensate it for the functions, assets, and risks attributable to the entity in that market. At the heart of the dispute was the transfer pricing methodology used by Coca-Cola to determine the royalties paid by its foreign Supply Points to the U.S. 2] Docket No.

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