CPA Practice

AUGUST 23, 2023

Wilde’s team analyzed more than 94,000 tax returns of U.S. businesses with at least $10 million in assets that used an external tax preparer between 2005 and 2016. Wilde’s study, “Who really matters in corporate tax?” Most of the businesses—91%–were private and their data was provided by the IRS. The study found….

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Going Concern

MARCH 24, 2023

Iris here~ Tax Heaven 3000 is a visual novel dating game that actually prepares your 2022 federal income tax return! It’s always been a dream of mine to meet that special someone…and file their tax return. Tax Heaven 3000 assists a player in creating a self-prepared United States federal income tax return.

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ThomsonReuters

JULY 6, 2023

Let’s take a look at what tax advisory is and how you can take advantage of this approach to serving clients. What are tax advisory services?

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xendoo

JANUARY 12, 2022

You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022? You may have already marked April 18, 2022, on your calendar to remind you to pay your personal income taxes. Want to learn more?

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xendoo

MAY 30, 2021

Florida business owners should be aware of the following: Corporations that do business in Florida must pay a 5.5% income tax. Florida has a sales tax rate of 6%. S Corporations are exempt from paying state income tax. Sole proprietorships, partnerships, and most LLCs are exempt from state income tax.

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xendoo

SEPTEMBER 10, 2021

Corporate tax preparation . Business Tax Preparation and Filings. Taxes represent a unique SMB bookkeeping demand. On the one hand, tax preparation is a yearly chore, but on the other hand, business tax codes can be complex, and ever-changing. . Financial statements .

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Accounting Insight

FEBRUARY 1, 2024

A large business tax enquiry / corporate tax enquiry is carried out by HMRC’s ‘Large Business’ directorate and ‘Wealthy & Mid-sized Business Compliance’ directorate. Remember, a corporate tax enquiry is not routine, despite what HMRC may suggest. What is a business tax enquiry / hmrc corporate enquiry ?

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xendoo

DECEMBER 11, 2022

Corporations and LLCs that are taxed as corporations must use this form to report their income, tax deductions , and credits. Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. Net capital gain income. Tax deductions (These vary by company.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Our CPAs Answer Your Top 5 Burning Tax Questions.

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inDinero Tax Tips

MARCH 3, 2021

Using your entity type, you can identify your deadline for filing business income taxes and what it would be if you elect to take advantage of the extension, which needs to be filed before the original tax deadline date. Extension tax deadline for partnerships ( Form 1065 ). S Corporation Tax Deadlines.

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Withum

OCTOBER 18, 2023

The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

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MyIRSRelief

APRIL 22, 2024

Discuss Payment Options: If you owe taxes, discuss payment options with your advisor. Form 941 is used by employers to report income taxes, social security tax, or Medicare tax withheld from employees’ paychecks. Problems with payroll taxes are serious and require immediate attention.

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SkagitCountyTaxServices

AUGUST 26, 2021

Per the Treasury , the bill will target tax increases on big corporations (raising the corporate income tax — i.e. C-corps — to 28%, among other moves) while protecting the majority of small businesses (around 97%). First off (and most importantly), plan ahead.

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LyfeAccounting

APRIL 22, 2021

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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LyfeAccounting

JANUARY 30, 2021

But for now, we would recommend you have this done by March 1st, so your tax preparer has enough time to file your business taxes. That is because March 15th is the deadline for businesses who are incorporated as a partnership, LLC, or S Corporation to file their taxes. Wrapping Up Tax Season 2021.

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Going Concern

JULY 21, 2023

KPMG Rolls Out Generative AI to Tax Pros, Launches Audit Pilot [ Bloomberg Tax ] Inside KPMG, its tax professionals are leaning on generative artificial intelligence to help corporate tax departments prepare for new requirements to disclose their tax obligations by country.

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ThomsonReuters

APRIL 12, 2021

You must access and share up-to-date regulatory information in every jurisdiction where your organization operates while automating critical tax preparation processes. How tax software streamlines international tax preparation. Corporate Tax Technology: Stepping into the Future. Do More with More?

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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.

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Cherry Bekaert

OCTOBER 3, 2024

The looming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) enacted during the Trump administration has become an important issue in the presidential campaign. Scheduled to sunset in 2025, the TCJA implemented significant changes to the tax code, including the reduction of personal income taxes and a simplified tax filing process.

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CPA Practice

JANUARY 23, 2023

Almost all states have seen their budget surpluses grow in the past two years, thanks to federal COVID-19 relief funds and increasing corporate tax revenues as the economy recovers from the pandemic. Grocery taxes that remain are “there for a reason. States and localities sometimes struggle with which foods to exempt from tax.

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