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.

business tax 124

business tax Tax 124

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 246

California Tax tax return CPA 246

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.

Tax 246

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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 246

California Tax tax return CPA 246

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%.

Legal 225

Legal Illinois Nevada Oregon 225

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.

Texas 128

Texas Tax tax return business tax 128

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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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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tax return income tax Tax business tax 131

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.

Tax 130

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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.

California 125

California income tax Tax business tax 125

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.

Sales 219

Sales Tax Louisiana North Carolina 219

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

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.

accounting firms 115

accounting firms Account accounted accountant 115

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.

South Carolina 126

South Carolina North Carolina Georgia Tax 126

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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corporation tax Tax tax planning income tax 130

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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corporation tax Tax tax return Non-Profits 130

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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Texas tax services business tax Government 94

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

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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tax return Tax income tax Start-ups 134

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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RogerRossmeisl

DECEMBER 15, 2024

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings.

Tax 208

Tax CPA business tax 208

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.

Entertainment 116

Entertainment audit Sports tax planning 116

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.

tax return 109

tax return Tax Manufacturing Government 109

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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Tax Finance tax services business tax 124

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.

tax preparation 115

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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.

Tax 264

Tax income tax CPA business tax 264

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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RogerRossmeisl

JULY 15, 2024

In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. With school out, you might be hiring your child to work at your company.

payroll tax 264

payroll tax payroll CPA Tax 264

RogerRossmeisl

JULY 17, 2024

July 15 Employers should deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. See the exception below, under “August 12.”)

income tax 264

income tax Tax payroll CPA 264

RogerRossmeisl

JULY 22, 2024

(As appearing in IR 2024-186) IRS reminds car dealers and sellers to be aware of phishing scams The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business.

CPA 264

CPA cpa firm business tax Tax 264

RogerRossmeisl

JUNE 5, 2024

If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchase in two ways: Buy the assets of the business, or Buy the seller’s entity ownership interest if the target business is operated as a corporation, partnership or LLC.

Tax 263

Tax CPA cpa firm business tax 263

RogerRossmeisl

SEPTEMBER 9, 2024

You may expect to pay Uncle Sam the standard 15% or 20% federal income tax rate that usually applies to long-term capital gains from assets held for more than one year. Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain.

Real Estate 263

Real Estate Tax income tax CPA 263

MyIRSRelief

NOVEMBER 3, 2023

They must pass a comprehensive three-part exam covering individual and business tax returns, adhere to ethical standards, and complete 72 hours of continuing education every three years. This rigorous training ensures that they are well-equipped to help taxpayers navigate complex tax issues.

Tax 130

Tax tax return audit tax preparation 130

RogerRossmeisl

SEPTEMBER 29, 2024

As reported via IR-2024-240 on 9/18/2024 The Department of Treasury and Internal Revenue Service issued proposed regulations to provide guidance for the Alternative Fuel Vehicle Refueling Property Credit (the tax credit related to the installation of EV chargers).

CPA 262

CPA Tax cpa firm business tax 262

RogerRossmeisl

JANUARY 14, 2024

Starting in 2024 newly formed, corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the U.S.

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CPA Start-ups Government Tax 262