ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

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Menzies

JANUARY 29, 2024

Cashflow is critical The main purpose of a business is generally the pursuit of profit, with business owners focusing on levels of turnover and profit and how these can be maximised. However, the importance of cash should not be underestimated, and business owners need to focus on understanding and managing the cashflow of their business.

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ThomsonReuters

FEBRUARY 6, 2024

So, it’s important that companies understand the different taxes to help ensure compliance. Here are the main differences between direct and indirect taxes: Direct taxes Levied on people and entities Are typically proportionate to the taxpayer’s income or assets Considered a progressive tax.

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ThomsonReuters

FEBRUARY 8, 2024

Now, if an LLC has employees in addition to its members, or owners, the LLC must collect and pay payroll taxes, which include unemployment, Medicare, and Social Security taxes — also known as FICA taxes (i.e., Federal Insurance Contributions Act), or “self-employment” tax. It’s also surprisingly affordable.

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SingleTrackAccounting

MAY 13, 2021

We have been getting questions lately on how the new tax bill will affect small businesses. The main points the new tax bill proposes should not affect most small businesses and Biden has made it clear that he will only tax “the rich.” Corporate Tax Rate. It’s targeting Wall Street not Main Street.

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CPA Practice

JUNE 28, 2024

In fact, because many such individuals pay into Social Security via payroll taxes but cannot receive benefits, illegal immigrants bolster rather than drain the finances of the program. Trump on Biden tax plan “He’s the only one I know he wants to raise your taxes by four times,” Trump said of Biden.

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