CPA Practice

SEPTEMBER 11, 2023

Generally, you can’t deduct these transportation costs. The IRS views commuting as a purely personal expense even though you’re going to work for business reasons. To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

Tax 119

Tax Transportation income tax business tax 119

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

South Dakota 124

South Dakota Tax Maryland income tax 124

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.

Tax 130

Tax income tax Education tax return 130

xendoo

MARCH 17, 2022

Tax season feels particularly overwhelming for small business owners. Halting operations to research every tax-saving opportunity is not realistic – let Xendoo do it for you! In this blog post, we will share popular small business tax deductions that you may be able to claim for the 2021 tax year!

business tax 59

business tax Tax bookkeeping Education 59

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.

tax preparation 130

tax preparation income tax Tax Real Estate 130

Cherry Bekaert

JUNE 12, 2023

Tennessee Works Tax Act Tennessee recently enacted the Senate Bill 275/House Bill 323, the Tennessee Works Tax Act , as the single largest tax cut in state history. property, payroll, three times receipts with a denominator of five) that applied to tax years ending before December 31, 2023.

Tennessee 93

Tennessee Tax Sales payroll 93

RogerRossmeisl

APRIL 30, 2024

They may also incur expenses for: transportation to get to and from client meetings, professional publications, continuing education and home office. What’s the tax treatment of such expenses? For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. Here are the answers.

Entertainment 130

Entertainment Transportation Education CPA 130

MyIRSRelief

NOVEMBER 19, 2021

If you’re like most, then taxes are probably not your favorite thing in the world. In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. A tax credit is something that reduces your taxable income.

Tax 100

Tax CPA Education business tax 100

LyfeAccounting

OCTOBER 21, 2020

?. In federal taxes you owe $78,435.72. Look, those were like your tax liabilities from last year. So I’d say, learn how to use small business tax deductions to lower your liability. Because you definitely don’t want to spend more in taxes for another year. Because like clockwork, taxes come due every year.

business tax 52

business tax Tax tax return Education 52

RogerRossmeisl

OCTOBER 30, 2023

Taxpayers in the transportation industry can use a special transportation industry rate.) Basics of the method A simplified alternative to tracking actual business travel expenses is to use the “high-low” per diem method.

Transportation 143

Transportation CPA business tax Tax 143

Going Concern

JANUARY 30, 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.

Real Estate 52

Real Estate Account accountant accounted 52

Going Concern

JANUARY 17, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? TAX CANDIDATES FTE Tax | Candidate ID #23772188 Certifications: CPA in process, EA Education: BBA Accounting and Finance Experience (years): 8+ years experience in tax accounting.

Real Estate 52

Real Estate Account accountant accounted 52

MazumaBusinessAccounting

JUNE 30, 2021

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. How much will that deduction actually save you on your taxes?

Tax 98

Tax Education accounting and finance Finance 98

inDinero Tax Tips

JUNE 24, 2023

Business tax deductions – three words that can cause stress and confusion for even the most seasoned entrepreneurs. Most business owners spend their days managing operations, nurturing client relationships, and focusing on growth goals. A necessary expense is one that is helpful and appropriate for your trade or business.

Tax 71

Tax accrual accounting tax return payroll tax 71

xendoo

SEPTEMBER 19, 2022

For the most part, business travel expenses are tax deductible, meaning that you could lower the amount of taxes you need to pay. . When it comes to tax-write offs for travel, the IRS provides specific guidelines around what you can claim. Mainly, your trip needs to be primarily for business purposes. You must: .

Entertainment 105

Entertainment Transportation Tax tax return 105

Withum

APRIL 14, 2022

A student’s cost of attendance generally includes tuition and fees (net of certain amounts including scholarships) and an allowance for room and board, books, supplies, transportation, and miscellaneous expenses of the student. Business Tax Services. How will my employer know if I am making qualified student loan payments?

Education 129

Education tax services Transportation Tax 129

Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. The New York PTET allows partnership (including LLCs) and S corporation entities to make an annual election to pay an entity-level tax. PTET Income Tax Addback.

New York 112

New York income tax New Jersey Tax 112

CPA Practice

NOVEMBER 6, 2023

At Mazars, she specializes in accounting and auditing for transportation and logistics. Idaho Society of CPAs hosts 2023 tax updates for CPAs The Idaho Society of Certified Public Accountants (ISCPA ) is offering tax updates to CPAs for both personal and business clients. Those interested can register here.

CPA 113

CPA cpas Idaho Michigan 113

CPA Practice

JULY 6, 2023

Deductions for business travel can be available when someone must travel away from their tax home or main place of work for business reasons. This includes all costs associated with travel by airplane, train, bus, or car between your home and your business destination. Use of your personal vehicle for business trips.

Entertainment 98

Entertainment Transportation Maine Tax 98

ThomsonReuters

DECEMBER 1, 2023

Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical. Section 179 deductions are limited to annual taxable business income. What is Form 4562?

tax return 97

tax return Tax Transportation Non-Profits 97

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax 52

income tax tax return E-commerce Tax 52

Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

Tax 52

Tax tax return business tax Entertainment 52

inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

Tax 52

Tax income tax Legal Entertainment 52

Basis 365

MARCH 6, 2022

While we may not be tax accountants , we, too, look for ways to save money, and having tax write-offs is a great way to save your business some money. In that sprint, we’ve devised a list of some common tax write-offs that you might consider when preparing your taxes this season. Be sure to keep your receipts.

Tax 52

Tax Entertainment Real Estate Education 52

MazumaBusinessAccounting

JANUARY 27, 2022

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. How much will that deduction actually save you on your taxes?

Tax 52

Tax Education Transportation Finance 52

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are green taxes? How are environmental taxes calculated? Current ESG tax credits and initiatives What are the benefits of an ESG tax strategy? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. What are green taxes? In the U.S.,

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are the tax credits available for electric vehicles? How does the electric vehicle tax credit work? For accountants, understanding these tax credits is essential in ensuring clients make the most of their investment in clean vehicles. What are the tax credits available for electric vehicles?

Tax 52

Tax Colorado accounting and finance tax return 52

ThomsonReuters

JANUARY 30, 2023

Table of contents: Minimum wage Paid leave Tax credits Unemployment Earned wage access Pay transparency Tipped workers Worker classification State-run retirement plans Work scheduling 1. Tax credits State legislators are looking to offer businesses tax incentives for certain benefits to employees.

payroll 105

payroll Hawaii West Virginia Oklahoma 105

Shay CPA

JULY 26, 2023

An Overview of START-UP NY, QETC, and Life Sciences R&D Tax Credit Program New York has long been a global hub for finance, fashion, and food. START-UP NY: A Decade of Tax-Free Operations START-UP NY is a unique program aimed at partnering businesses with universities and colleges across the state.

New York 52

New York Technology income tax Real Estate 52

inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

tax return 52

tax return Mississippi Wisconsin Alabama 52

Accounting Insight

FEBRUARY 21, 2023

T&E expenses are the costs incurred for business travel, entertainment, and meals. And for SMEs, these expenses can be a tax deduction for your business and can reduce your taxable income to help lower your tax bill. What are the best ways to report T&E for the next tax period?

Travel Expense Management 59

Travel Expense Management Expense Management Entertainment Technology 59

ThomsonReuters

SEPTEMBER 22, 2022

Of course, there are some restrictions: The education cannot relate to a sport, game, or hobby, unless it involves the employer’s business or is required as part of the student’s degree program. Meals, transportation, and lodging cannot be reimbursed. Qualifying expenses can be reimbursed tax-free up to $5,250 per calendar year.

Education 52

Education Sports Transportation Tax 52

DMCL

APRIL 11, 2022

While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was undoubtedly influenced by the recent announcement of a coalition with the NDP.

Non-Profits 52

Non-Profits Real Estate Tax Construction 52

Withum

JUNE 8, 2023

Items such as employee bonuses, bank fees, and business taxes are often excluded from the overhead rate calculation, when in actuality, a portion of those expenses may be allowable. Accounting software often presents limitations, such as a single expense account for all payroll expenses.

general ledger 52

general ledger Transportation accounting software financial statements 52

Withum

SEPTEMBER 6, 2022

Specific to the cannabis industry, regulations have to do with handling, transport and sales in general. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Our team has experience in optimizing / modernizing your technology and enhancing your customer’s buying experience.

E-commerce 52

E-commerce Management Consulting Retail Transportation 52

Steve Feinberg

DECEMBER 23, 2022

Instead, landscaping companies need to take jobs that will pay more than that business’ combined expenses to complete the job—and this is where things can get tricky. Labor, insurance, taxes, materials, repairs, etc.—all It’s natural to feel a little overwhelmed by the extent of the accounting side of a business.

bookkeeping 52

bookkeeping bookkeeping software accounting and finance audit 52

Ronika Khanna CPA,CA

DECEMBER 3, 2021

It also folds flat so that you can transport it relatively easily. While there are numerous ways to transport your laptop – purses, reusable bags, backpacks etc., having a dedicated laptop bag can provide protection to one of the business owner’s most precious possessions while making you appear more professional. Laptop Bag ?.

quickbooks 52

quickbooks Transportation accounting and finance small business accounting software 52