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IRS Expands Business Tax Accounts to Include S Corporations and Partnerships

CPA Practice

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. This next step in the evolution of the Business Tax Account will help these businesses download transcripts and other features.

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IRS expands Tax Pro Account, launches enforcement effort

Accounting Today

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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How Long Does It Take an Accountant to Do Taxes?

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In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. How do you know when to bring in a tax professional? How Much Time Does it Take an Accountant to Prepare Taxes? Tax Accounting Software.

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4 Ways Small Business Owners Can Stay Tax Compliant

xendoo

By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. Pay Self-Employment Tax. Pay Quarterly Estimated Taxes .

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The Small Business Guide to Revenue vs. Profit

xendoo

For example, you may go a step further and factor in the EBIT (earnings before interest and taxes), depreciation, amortization, rent, and business taxes into the equation. This will give you your business’s net profit for the period. For example, let’s say your business had total revenue of $100,000 in a year.

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IRS Boasts New and Improved Online Tools and Digital Services For Taxpayers

CPA Practice

This progress can be seen in our continued expansion of our online accounts to provide more features, increased use of new digital tools, and additional special activities to help taxpayers in-person. Complete the Pending Installment Agreement process within Online Account without having to be re-routed to a separate application.