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Making Tax Digital for ITSA has been delayed, but we’re ready to support you

Xero

HMRC has announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been delayed until April 2026. With small businesses, accountants and bookkeepers facing challenging times, we understand and support the delay from HMRC – giving you more time to prepare. .

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How Much Is a Tax Consultant?

xendoo

If your situation requires specialized knowledge about tax codes, fees are usually commensurate with qualifications. What Does a Tax Consultant Do? A tax consultant is trained in tax law and financial accounting. They also should know recent tax law changes on both a federal and state level. .

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Tax Season 2021: Prepare Now (Don’t Miss These Deadlines)

LyfeAccounting

Now the biggest tax date we’re likely going to see in 2021 is April 15th because several things are due. Firstly, after you file your partnership, LLC, or S-Corporation tax returns then April 15, 2021 is coming up for you to file your personal tax returns. Wrapping Up Tax Season 2021. April 15, 2021.

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Copy Amazon’s $0 Tax Strategy! How to Write Off Taxes (Easy Guide)

LyfeAccounting

This basically means Amazon got a federal tax refund for millions of dollars. Over 91 Fortune 500 companies, including Nike, Netflix, and FedEx, don’t pay much in federal income tax, if at all. In this post, we’ll be uncovering how Amazon was able to completely write off taxes. How to Write Off Taxes Like Amazon.

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LLC vs C-Corporation: Which One is Best for Your Business? [CPA Approved]

LyfeAccounting

The income is first taxed through the business with corporate income taxes. This income already includes the dividends and money you took out of the business. The current corporate tax rate is 21%, and the Federal deadline to file and pay is April 15th on Form 1120.

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How to Pay Dividends: Completing the T5 Slip and Summary

Ronika Khanna CPA,CA

The T5 dividend slips are generally due by February 28th of the calendar year following the year in which the dividend was paid Although no income taxes are due at the time of filing the T5 slips with the government, interest and penalties apply for late filing. available at Amazon. Preparing the T5 slips is fairly straightforward.

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5 Reasons Your Small Business Needs an Accounting System

Ronika Khanna CPA,CA

At its core, an accounting system is a method of organizing your financial data. There are various types of accounting systems out there, ranging from complex enterprise solutions to simple small business accounting software like QuickBooks.