MyIRSRelief

OCTOBER 4, 2024

For Businesses: Filing Form 1120-X or 1065-X Identify the Error: Determine the specific error on your original business tax return (Form 1120 for corporations or Form 1065 for partnerships). Correcting errors on your individual or business tax return is essential to ensure compliance with tax laws and avoid potential penalties.

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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

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

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.

Nevada 105

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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 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.

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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

RogerRossmeisl

SEPTEMBER 25, 2022

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next.

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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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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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cost accounting accounting firms Account accountant 115

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 246

Tax CPA business tax 246

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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RogerRossmeisl

DECEMBER 29, 2024

Youre not alone if youre confused about the federal tax treatment of business-related meal and entertainment expenses. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses. The rules have changed in recent years. Lets take a look at what you can deduct in 2024.

Entertainment 263

Entertainment Gaming CPA Tax 263

RogerRossmeisl

MARCH 3, 2025

citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.

CPA 219

CPA business tax Tax 219

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

RogerRossmeisl

OCTOBER 20, 2024

The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit rates for large corporations with assets exceeding $250 million. Under these plans, partnerships with assets over $10 million will also see audit rates increase tenfold by 2026.

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RogerRossmeisl

DECEMBER 15, 2024

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025.

CPA 263

CPA Government business tax Tax 263

RogerRossmeisl

FEBRUARY 16, 2025

When deciding on the best structure for your business, one option to consider is a Ccorporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Heres a detailed look at the pros and cons of operating as a C corporation.

Non-Profits 257

Non-Profits corporation tax CPA Tax 257

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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RogerRossmeisl

OCTOBER 27, 2024

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024). Wages and self-employment income above this amount aren’t subject to Social Security tax. As we approach 2025, changes are coming to the Social Security wage base.

Hospitality 263

Hospitality payroll CPA Tax 263

ThomsonReuters

NOVEMBER 26, 2024

Let’s take a look at what a digital tax workflow is all about and how it can unlock efficiencies for your accounting firm. Jump to ↓ What is a digital tax workflow? What is tax workflow automation? What is a digital tax workflow? First, the basics. Tens of thousands of U.S.

Technology 52

Technology accounting firms Tax tax preparation 52

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.

tax return 132

tax return income tax Tax business tax 132

Withum

FEBRUARY 13, 2025

Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape. Visit Resource Center Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

New York 75

New York audit Washington Tax 75

RogerRossmeisl

DECEMBER 15, 2024

If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an option for self-employed individuals or business owners who wish to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan.

CPA 241

CPA Tax accounted Account 241

RogerRossmeisl

FEBRUARY 23, 2025

With todays hiring challenges, business owners should be aware that the Work Opportunity Tax Credit (WOTC) is available to employers that hire workers from targeted groups who face significant barriers to employment. According to the U.S. from May to November of 2024.

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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

Patriot Software

JANUARY 29, 2025

Small business tax deductions provide a great way for business owners to offset expenses and lower tax bills. And in business, expensesespecially your employees on payrolladd up quickly. Are employee wages tax deductible? If youre a sole proprietor or single-member LLC who files Schedule C, read on.

Tax 85

Tax business tax accountant accounted 85

RogerRossmeisl

FEBRUARY 16, 2025

Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in todays businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. What are intangible assets?

Tax 232

Tax CPA business tax 232

Menzies

NOVEMBER 8, 2024

In this podcast, Menzies look at the Autumn Budget Breakdown 2024, with speakers Jonathan Bass, Partner, Business Recovery, Matt Watkins, Tax Disputes & Disclosures Director, Helen Cuthbert, Partner, Private Client and Stephen Hemmings, Partner, Business Tax.

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Going Concern

NOVEMBER 15, 2024

News Tax CARES Act coronavirus ERC Fraud fuck you pay me National Taxpayer Advocate Small Business Tax Credits

Tax 52

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RogerRossmeisl

OCTOBER 13, 2024

As appearing at the IRS web page entitled “IRS Audits” An IRS audit is a review/examination of an organization’s or individual’s books, accounts and financial records to ensure information reported on their tax return is reported correctly according to the tax laws and to verify the reported amount of tax is correct.

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audit tax return CPA Tax 264

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 Florida 126

RogerRossmeisl

FEBRUARY 23, 2025

When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains and losses from the sale or exchange of certain business property.

Sales 191

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CPA Practice

OCTOBER 25, 2024

Advisory LLC, not a licensed CPA firm, will provide business tax, advisory, and other non-attest services and be led by Bellamy. a licensed CPA firm, will provide attest services and be led by Vince Curttright, currently partner in charge of the firm’s assurance practice. Cohen & Co. as their brand name.

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Accounting Today

FEBRUARY 27, 2025

Even though things are busy, tax pros can't afford to let their guards down on engagement letters, scope creep, data security and much more.

Tax 78

Tax business tax tax preparation 78

RogerRossmeisl

MARCH 23, 2025

If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Heres what you need to know as you assess your 2024 tax situation. First, the passive activity loss (PAL) rules may apply if you arent very involved in the business or if its a rental activity.

income tax 130

income tax CPA Tax business tax 130