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S Corporation Owners – How Much Salary is the Right Amount?

Bharmal&Associates

First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty. Getting the S corporation salary right is important. Cost Approach.

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AICPA News – March 2023

CPA Practice

The 61 recommendations in the compendium include proposals related to employee benefits, individual income tax, international tax and tax administration, among others. 41); refunds of any remaining minimum tax credits from the prior corporate alternative minimum tax (AMT) regime (pg.

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Trucking Tax & Accounting by Mike Habib, EA Los Angeles, CA

MyIRSRelief

In addition to managing accounts receivable and accounts payable, professional bookkeepers can also help trucking companies develop a cash flow forecast. Tax Compliance Trucking companies must comply with a variety of tax laws and regulations, including federal and state income taxes, fuel taxes, and payroll taxes.

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CPAs: Make Direct Indexing Your Estate Planning Secret Weapon

Going Concern

As we talked about in our previous article, direct indexing is a strategy wherein the investor directly owns the individual securities that would normally make up a benchmark or commingled fund, like a mutual fund or exchange-traded fund (ETF), within a separately managed account (SMA).

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Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

Pop star Shakira to face second investigation over allegations of tax fraud in Spain [ NBC News ] A court near Barcelona, Spain confirmed it has opened an investigation into a second case of alleged tax fraud by international pop star Shakira.

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The Subtle Nuances of A/R in QuickBooks Online - A Complete Guide & Workshop

SchoolofBookkeeping

In this Workshop Wednesday, we dive into the intricacies of managing Accounts Receivable (AR) in QuickBooks Online (QBO) and QuickBooks Desktop, addressing common mistakes and offering practical solutions. This doesn't eliminate the tax obligation; it merely shifts it to align with cash flow.

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4 Ways CPAs Can Explain the Tax Benefits of Direct Indexing to Clients

Going Concern

Instead of owning shares in a commingled fund, your clients own the individual securities in the portfolio directly, in a separately managed account (SMA). Holding-period management : Determining the optimum time to hold a security, with an eye toward differing tax rates for short- and long-term gains.

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