Accounting Today

JANUARY 11, 2024

The official start date of tax season for individual taxpayers will be on Jan. 29, but the Internal Revenue Service plans to accept business tax returns as soon as Jan.

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ThomsonReuters

JANUARY 6, 2025

Blog home Managing tax obligations in large organizations is a multifaceted challenge that demands precision, efficiency, and a deep understanding of ever-evolving regulations. This is where embedded tax solutions come into play. Highlights: Tax management in large organizations is complex and needs precision.

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RogerRossmeisl

AUGUST 3, 2021

Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or §199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed by trusts and estates. It’s taken “below the line.”

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RogerRossmeisl

DECEMBER 10, 2022

A C corporation allows the business to be treated and taxed as a separate entity from you as the principal owner. A properly structured corporation can protect you from the debts of the business yet enable you to control both day-to-day operations and corporate acts such as redemptions, acquisitions and even liquidations.

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CPA Practice

AUGUST 23, 2023

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. Wilde’s team analyzed more than 94,000 tax returns of U.S. The study found….

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RogerRossmeisl

JANUARY 1, 2023

The QBI deduction is: Available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships, and S corporations, as well as trusts and estates. Intended to reduce the tax rate on QBI to a rate that’s closer to the corporate tax rate. Taken “below the line.”

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RogerRossmeisl

DECEMBER 9, 2020

The QBI deduction: Is available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships, and S corporations, as well as trusts and estates. Is intended to reduce the tax rate on QBI to a rate that’s closer to the corporate tax rate. Is taken “below the line.”

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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Accounting Today

APRIL 15, 2024

The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.

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Accounting Today

OCTOBER 20, 2023

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

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ThomsonReuters

NOVEMBER 4, 2024

← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. Addressing these issues from the start of your tax engine integration project is crucial for success.

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Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.

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Menzies

OCTOBER 30, 2024

Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. Some of this increase will be mitigated by a reduction in corporation tax which will reduce the impact on profitable businesses by up to 25% of the increase.

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CPA Practice

NOVEMBER 19, 2024

The Main Street Alliance and Small Business Majority have launched the Small Business Tax Fairness Coalition (SBTF), a national initiative to advocate for a U.S. tax code that prioritizes the needs of America’s entrepreneurs. of recipients—primarily white-owned firms—leaving many small, minority-owned businesses behind.

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Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. PPP EIDL ERC FFCRA SVOG R R F. Paycheck Protection Program (PPP).

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Ronika Khanna CPA,CA

JUNE 7, 2024

Table of Contents When starting a business, it can be confusing and a little overwhelming to keep on top of the different types of tax filings that need to be submitted and ensuring that these tax deadlines are met. Does your small business qualify for the quick method of reporting GST-HST & QST ?

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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.

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SkagitCountyTaxServices

AUGUST 26, 2021

One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. This week is no exception. ” – John W.

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Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules.

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PYMNTS

FEBRUARY 26, 2019

to allow businesses to pay their corporate taxes in bitcoin. In an interview with CNBC at the time, Ohio’s then-State Treasurer Josh Mandel said the initiative would increase “options and ease” for businesses, and support the local tech startup community.

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TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. New York Gov.

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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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ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. is a C corporation.

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Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns). Contact Us.

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CPA Practice

SEPTEMBER 8, 2023

There could be a big tax in your future—literally. We’re referring to the so-called “built-in gains” (BIG) tax. The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning. What can you do to avoid a big BIG tax?

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CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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Ronika Khanna CPA,CA

APRIL 26, 2024

As business owners and employees are increasingly working remotely, often from their home offices , it helps to set up an infrastructure where business functions can be handled online. This includes tax payments, which tax agencies have tried to make as easy as possible by offering several options.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA.

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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. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. Key Hurricane Helene Tax Relief Information Who qualifies for this relief? Key Hurricane Helene Tax Relief Information Who qualifies for this relief? Provide the FEMA Disaster Number of the area where your tax preparer is located.

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CPA Practice

JUNE 1, 2023

Before early 2024, tax teams must learn how to balance the additional requirements of the Base Erosion and Profit Shifting (BEPS) 2.0 Pillar Two will impose new data reporting requirements and additional global tax compliance challenges for multinational business with turnover greater than 750M EUR. By David Woodworth.

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Going Concern

NOVEMBER 24, 2022

Take a look at the description, salary range, and requirements and if you’re so compelled, head over to Accountingfly to apply for this Remote Tax Manager position. Remote Tax Manager needed at small but progressive firm – with NO crazy busy season hours. Knowledge of tax laws and strategies is required. Apply here.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes?

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. Are you really doing everything you can to reduce your tax burden? How are S corporations taxed? When are S corps taxes due?

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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