MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your business taxes.

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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. 57% of accounting firms plan to increase fees across all services in 2025. We know Big 4 and mid-tiers have this pricing thing down. Or at least half-in.

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MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your business taxes.

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CPA Practice

SEPTEMBER 19, 2023

Goralka, Kiplinger Consumer News Service (TNS) This cautionary tale is based upon the recent tax case of Estate of Hoensheid v Commissioner , TC Memo 2023-34. When owners of a company plan to sell their business, there is very often a desire to minimize the resultant income tax. This leaves net proceeds of $14 million.

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Xero

JULY 3, 2022

Earlier this month, Caveo Partners took to Xero’s social channels to ask small business owners which questions they wanted answered come tax season. How often should I see my advisor at tax time? . A bookkeeper plays an essential role here by providing up-to-date and accurate financial information about your business.

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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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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn.

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Canopy Accounting

JANUARY 20, 2023

There are many interesting changes in business taxation for the 2023 season! Since tax planning for businesses is an important part of our practice, there are several things we need to be aware of.

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RogerRossmeisl

DECEMBER 3, 2023

In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. In certain circumstances, The post There May Still Be Time to Reduce your Small Business 2023 Tax Bill appeared first on Roger Rossmeisl, CPA.

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Dent Moses

OCTOBER 10, 2024

Dent Moses is committed to keeping you informed of the latest tax-saving strategies. We are sharing our AG-YE_YR Tax Planning Guide-2024_DM. We look forward to working with you to review the details of your tax situation. The post 2024 Business Tax Planning Guide appeared first on Dent Moses, LLP.

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RogerRossmeisl

DECEMBER 7, 2021

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. Before the 2017 Tax Cuts and Jobs Act (TCJA), bonus depreciation was available for two types of real property: land improvements other than buildings (for example fencing and parking lots), and “qualified improvement property,” a.

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Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. 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.

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SkagitCountyTaxServices

AUGUST 19, 2022

Though that said, there does seem to be some easing on both of these fronts – and not necessarily because of the “Inflation Reduction Act” (more on that and business tax deductions in a minute). It can be difficult to see your way through it all and keep your business afloat. Business Tax Deductions: Meals and mileage.

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. Create a plan: Develop a plan for organizing and cleaning up your books. What is income tax preparation service? What are the benefits of accounting & bookkeeping services?

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MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

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MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements.

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inDinero Tax Tips

DECEMBER 22, 2023

Introduction As 2023 draws to a close, it’s pivotal for small businesses to scrutinize their financial status and strategize effectively for tax reduction and a robust financial future. Despite a static tax legislative landscape, the looming possibility of future amendments necessitates proactive tax planning.

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ThomsonReuters

MARCH 20, 2025

Just as one tax season wraps up, the next is already on the horizon, bringing with it new rules, expectations, and challenges. Leveraging AI-powered tax technology to transform last tax seasons struggles into opportunities for long-term success. The secret? Jump to 1. Keep pace with regulatory changes and compliance 2.

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MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable. Contact us for professional tax help today!

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Wellers Accounting

FEBRUARY 21, 2025

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

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SkagitCountyTaxServices

MARCH 17, 2023

Forward-thinking is a must in business… that goes for your taxes too. But first, let’s talk about your tax filing. While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. And I’m going to dive into what that looks like today.

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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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MyIRSRelief

JUNE 23, 2023

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Contact us for professional tax help today!

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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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MyIRSRelief

OCTOBER 16, 2023

When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets.

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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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Going Concern

MARCH 13, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs.

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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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MyIRSRelief

OCTOBER 18, 2021

If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? Here’s a look at several different types of IRS federal tax credits and at whether or not you could be eligible. Earned income tax credit.

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LSLCPAs

NOVEMBER 12, 2020

Part TWO: The CARES Act, Net Operating Losses, and Cash Flow So much has happened this year and so much has to be done before the year end to help our clients make the correct decisions on their tax liabilities that we are starting our planning now, and we hope […].

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CTP

OCTOBER 2, 2023

Every year countless taxpayers overlook money-saving opportunities in the form of tax credits. This provides tax professionals with an opportunity to look like magicians as we whip money-saving strategies out of our proverbial hats in the form of readily available credits that our clients may have never heard about.

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MyIRSRelief

JANUARY 16, 2023

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

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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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Withum

MAY 16, 2022

Favorable rules, which were put into place for taxable years after 1992, could allow the cancellation of debt income to be deferred for federal income tax purposes even if the taxpayer is not in bankruptcy or insolvent—as is normally the case. Business Tax Services. Contact Us. Contact Us.

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CTP

JANUARY 22, 2024

What does it look like to operate ethically in the world of tax planning? Circular 230 regulations are intended for those who “practice” before the IRS, but the ethical standards of conduct can apply to any tax professional. Say the company itself wants to hire you to do its yearly tax plan.

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xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. 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?

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