MyIRSRelief

NOVEMBER 19, 2021

Whether or not you qualify for the EITC tax credit will be determined by a variety of criteria, but it begins with determining if you are considered poor or modest by the government. You may get up to a 40% refund with your tax return if your credit is greater than the total taxes you owe. Small-business tax credits.

Tax 100

Tax CPA Education business tax 100

LyfeAccounting

APRIL 22, 2021

Let’s start by understanding the number one thing Amazon does to write off taxes. How to Write Off Taxes Like Amazon. See, credits provide a dollar-for-dollar reduction of your income tax and are given by the government to reward certain types of behavior that benefit the US economy. Amazon uses credits.

Tax 52

Tax Virginia Georgia income tax 52

LyfeAccounting

AUGUST 10, 2021

Not to invest in stock markets, real estate, or your business. . But no, literally, just to pay taxes to the government. It was written to grow the economy, boost jobs, provide affordable housing, and promote many initiatives that the government relies on to provide for its citizens. Be sure to read that next.

Real Estate 52

Real Estate Tax tax return Start-ups 52

LyfeAccounting

MARCH 10, 2021

Audits are services where CPAs are required to audit your financial information in accordance with accounting and auditing standards set by the government. And What Kind of Business Needs a CPA? appeared first on Small Business Accounting & Finance Blog. Services That CPAs Are Best To Provide.

CPA 52

CPA cpas bookkeeping tax preparation 52

LyfeAccounting

JULY 7, 2021

In most cases, your local government will send out a notice with your property tax assessment. And then, you can look at what they are paying in property taxes in comparison to you. Most local governments have public databases that allow you to see this information. Read your assessment letter.

Tax 52

Tax CPA New Jersey Pennsylvania 52

LyfeAccounting

NOVEMBER 16, 2020

Yet there is still confusion for many small businesses about how the PPP loan will affect their future. It’s likely you won’t know if your loan is forgiven and by how much until 2021, which will have some serious implications for your tax planning and financial reporting. Tax Deductibility. State Taxes.

payroll 52

payroll income tax Tax accounting and finance 52

LyfeAccounting

MAY 27, 2021

Just keep in mind that though the IRS can help clear up your questions, their main job is to collect taxes on behalf of the US government. The last thing you want is to end up in a tax court against the United States government. Or, contact us today to talk to one of our tax experts! Remember again to be timely.

tax return 52

tax return audit Tax accounting and finance 52

LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

JULY 22, 2021

In this post, we’re going to continue the fun as we go through the states with the lowest property taxes in the country. What Are Property Taxes For? As you know, property taxes help to fund your local state government. But to what extent are these property taxes just too high or too low? Let’s begin!

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

DECEMBER 30, 2020

If you earn a paycheck from an employer, odds are you elected to have your taxes withheld. This means you are basically paying taxes that you will owe in advance. So for every paycheck, your earnings are being reported to the government and some, or all, of your taxes are being paid. Contact us today!

Real Estate 52

Real Estate Tax income tax Gaming 52

LyfeAccounting

APRIL 23, 2021

So if you had a $150,000 tax liability, the money you would have to pay the government anyway, this would allow you to get a $150,000 tax write-off. And this can be a tax savings of 30-40%! Now, this is the power of leveraging the tax code and why accountants and CPAs get paid so much money.

Tax 52

Tax quickbooks Real Estate accounting and finance 52

LyfeAccounting

JULY 3, 2021

You have tax exemption status. Of course, from our tax planning perspective, the biggest benefit is having tax exemption status once you incorporate your 501(c)(3). This basically means the corporation or the 501(c)(3) nonprofit organization does not have to pay taxes. We would love to help you out.

Georgia 52

Georgia Start-ups Tax Legal 52

LyfeAccounting

MARCH 10, 2021

To elaborate further, our taxes help pay for government funding, which the government helps provide so many benefits for our country. So when you owe money and you’re late filing taxes, the government has less funding and you’re penalized for that. Owing Interest.

Tax 52

Tax tax return Real Estate Government 52

LyfeAccounting

DECEMBER 7, 2020

Combined, 7.65% in FICA taxes. Federal Unemployment Tax Act. Not to be confused with FICA, FUTA taxes are paid only by the employer to help the Federal government assist states with their unemployment program if needed. FUTA is a 6% tax based on the first $7,000 of wages you pay each employee. More specifically, 6.2%

payroll tax 52

payroll tax payroll Tax income tax 52

LyfeAccounting

SEPTEMBER 15, 2020

Whereas in LLCs or partnerships, the government does collect “medicare and social security taxes” hypothetically, through the self-employment tax. As you can see, your entity structure largely determines your overall tax liability, and if you need help navigating this, then we’d be happy to help you craft a tax plan.

accounting and finance 52

accounting and finance Tax tax planning bookkeeping services 52

LyfeAccounting

OCTOBER 23, 2020

In fact, as a CPA, I’ve helped businesses and individuals save on their taxes through tax planning. With tax planning, I go over the ins and outs of a taxpayer’s situation. I review all sources of income and major life circumstances, and come up with legal ways to save them thousands in taxes.

Healthcare 52

Healthcare Tax tax planning Legal 52

LyfeAccounting

DECEMBER 28, 2020

And while I can’t tell you if those stories are true or not, or whether or not they’re committing fraud or not… I can tell you for a FACT that there are incentives BAKED into the tax law that allows businesses and individuals to save on their taxes. This is how powerful small business tax credits are.

business tax 52

business tax Tax tax return Government 52