CPA Practice

SEPTEMBER 19, 2023

Many of the tools used to minimize income tax in this situation have a charitable giving component. When properly planned and implemented, three separate goals are achieved. Second, there is an income tax deduction equal to the fair market value of the appreciated asset contributed to the charitable structure.

tax planning 116

tax planning Tax income tax Sales 116

CTP

NOVEMBER 2, 2023

What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. This is where offering your assistance as a Certified Tax Planner can be invaluable.

tax planning 105

tax planning Tax Sales accountant 105

CTP

MARCH 16, 2021

Here are three common problems and their solutions to help you develop a successful and strategic tax planning sales pitch. The value of your tax plan has to be obvious to your clients, but it can be difficult to quantify. The post Three Reasons Why Your Tax Plans Aren’t Selling (& What to Do!)

tax planning 98

tax planning Tax Sales 98

Withum

JANUARY 8, 2025

It is notable because, as in Barge , the court developed its own DCF analysis to quantify the loss in value resulting from a partition of the property and distribution of the ultimate sale proceeds. Let’s Chat The post Divide and Conquer: The Valuation of Undivided Real Estate Interests for Tax Planning appeared first on Withum.

Real Estate 52

Real Estate tax planning Tax Iowa 52

CTP

NOVEMBER 16, 2022

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. And according to the same research firm, the use of AI in the accounting and tax industry will likely grow more than 50 percent by the year 2030.

tax planning 95

tax planning Tax Technology Non-Profits 95

Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). Energy credits.

tax planning 98

tax planning Tax Construction income tax 98

MyIRSRelief

SEPTEMBER 1, 2020

With more than 30 million small businesses in the US, effective tax planning is essential to maximizing profits and minimizing taxes, keeping more of what is earned, and lowering your taxes for the future. No Individual or Corporate Income Tax: Nevada, South Dakota, and Wyoming.

tax planning 100

tax planning Tax South Dakota New Hampshire 100

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. Not all sales and not all taxpayers can qualify to use the installment sale method.

Real Estate 109

Real Estate tax planning Construction Tax 109

CTP

OCTOBER 17, 2022

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. The post How to Increase Efficiency in Your Tax Planning Business appeared first on Certified Tax Coach.

tax planning 98

tax planning Tax tax preparation tax return 98

CTP

JANUARY 9, 2023

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. The post <strong>How to Increase Efficiency in Your Tax Planning Business</strong> appeared first on Certified Tax Coach.

tax planning 97

tax planning Tax tax preparation tax return 97

CTP

FEBRUARY 20, 2024

By Dominique Molina, CPA MST CTS You’re in the business of tax planning, and you pride yourself on being the go-to expert for navigating the complex world of taxes. It’s a widespread belief, but it barely scratches the surface of what tax planning can do. So, keep an open mind as you read on.

tax planning 98

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CPA Practice

OCTOBER 16, 2023

More recently, a significant rise in interest rates has limited the supply of homes for sale, as homeowners who had locked in low interest rate mortgages don’t want, or can’t afford, to give up those low rates to purchase a new home. For taxpayers who find themselves in this situation, thoughtful tax planning is essential.

Sales 122

Sales Real Estate Tax tax planning 122

CTP

DECEMBER 8, 2022

Given its surging popularity and lesser-known tax rules, we will focus this article on short-term rentals. Again, sites like Airbnb and the evolution of the gig economy are presenting opportunities for income and tax planning that were not available before. Lastly, depreciation can be a major tax planning tool.

Real Estate 98

Real Estate tax planning income tax Tax 98

DuctTapeMarketing

JULY 14, 2018

They’ll partner you with a dedicated accounting team and provide three simple monthly rates that include your bookkeeping, sales tax, planning support, corporate tax return, and unlimited access to your dedicated CPA team. Customer Journey. Mobile Marketing. Email Marketing. Paid Search. Social Media. Advertising.

bookkeeping 238

bookkeeping accounting and finance accounting software accounts payable 238

CTP

JUNE 10, 2022

Even if you have never assisted a client with the sale of a business, as a tax planner you have the potential to provide tremendous value in the planning process. The most common type of business sale is when an entity sells its business assets, which could include a diverse array of asset types.

Sales 93

Sales Tax income tax tax return 93

CTP

DECEMBER 14, 2022

Tax professionals today need to be prepared to incorporate real estate income into their clients’ tax plans. More and more Americans are starting to use their properties as a primary or secondary income source, yet many taxpayers are not prepared for the tax consequences when they decide to sell that property.

Real Estate 69

Real Estate tax planning Tax income tax 69

MyIRSRelief

OCTOBER 3, 2022

According to the IRS, in 2019, Los Angeles county residents had 4,806,030 total 1040 tax returns. The minimum combined 2022 sales tax rate for Los Angeles County, California is 10.25%. This is the total of state and county sales tax rates. The California state sales tax rate is currently 6%.

tax services 147

tax services California Tax tax preparation 147

CPA Practice

DECEMBER 21, 2023

To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and individuals. Tax-planning considerations for individuals 1. Document and substantiate. Consider timing.

tax planning 59

tax planning Tax Real Estate accounting and finance 59

ThomsonReuters

DECEMBER 19, 2024

Broadly speaking, the regulations require custodial brokers to file Form 1099-DA (Digital Asset Proceeds From Broker Transactions) and furnish payee statements reporting gross proceeds and, in certain circumstances, adjusted basis on sales of digital assets affected for customers.

tax planning 52

tax planning Tax accounting and finance Technology 52

CTP

OCTOBER 26, 2021

The post Tax Planning for a Business Sale: Factoring in Goodwill appeared first on certifiedtaxcoach. Tax Planning for a Business Sale: Factoring in Goodwill was first posted on October 26, 2021 at 9:00 am. The goodwill […].

tax planning 40

tax planning Sales Tax tax accountant 40

Shay CPA

NOVEMBER 29, 2023

It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s income, payroll, sales, and foreign taxes. Before you start operating abroad, you’ll need to file Form 6166 to get a tax residency certificate.

tax planning 52

tax planning Tax CPA Start-ups 52

CPA Practice

AUGUST 1, 2024

TaxPlanIQ, a provider of tax planning software for tax and accounting firms, announced Thursday that its users have collectively saved their clients more than $1 billion in taxes since the software’s launch in 2020. These are now part of the growing suite of more than 125 planning strategies available in TaxPlanIQ.

tax planning 52

tax planning Tax accounting and finance CPA 52

Withum

NOVEMBER 17, 2022

Today, almost all states employ economic nexus concepts, whereby merely having sales sourced to a state generally result in a filing requirement even without a physical presence. States across the nation use different sourcing rules and methodologies to assign sales to a state. Income tax apportionment. ultimate customer).

tax planning 52

tax planning Tax income tax New York 52

Withum

AUGUST 24, 2023

Capital Gains Compensation income generally is taxed where an individual performs the services, whereas capital gain income is taxed to an individual’s state of residency at the time of the sale. Make sure you are considering the type of income when implementing state income tax planning techniques.

income tax 52

income tax tax planning South Dakota Wyoming 52

ThomsonReuters

DECEMBER 27, 2024

Jump to A shift in digital asset reporting Developing a digital asset advisory framework A shift in digital asset reporting Under the new IRS digital asset reporting rules , brokers are required to report gross proceeds from digital asset sales and provide tax basis information.

Real Estate 52

Real Estate tax planning accounting and finance tax preparation 52

ThomsonReuters

NOVEMBER 12, 2021

Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically.

tax planning 52

tax planning Tax corporation tax Technology 52

Going Concern

JANUARY 9, 2025

TAX CANDIDATES FTE Tax Senior | Candidate ID #23616387 Certifications: EA Education: BS Accounting, MS Taxation Experience (years): 10+ tax and accounting Work experience (detail): 6+ in public accounting 3 in healthcare industry Full cycle accounting and financial reporting Prepared tax filings for individuals, SMBs, partnerships, nonprofits 30% review (..)

Real Estate 52

Real Estate accounted accountant Account 52

Going Concern

OCTOBER 31, 2024

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22591376 Certifications: CPA Education: BBA Accounting Experience (years): 5+ years accounting experience Work experience (detail): All in public accounting Tax planning and client advisory Experience reviewing tax returns Client relationship management experience Client niches: SMBs, (..)

Real Estate 59

Real Estate accounted accountant Account 59

MyIRSRelief

SEPTEMBER 6, 2024

Additionally, you must pay the employer’s share of Social Security and Medicare taxes, as well as federal unemployment tax. Sales Tax: Depending on your location and the nature of your business, you may be required to collect and remit sales tax on the goods and services you sell.

Tax 130

Tax tax return bookkeeping tax preparation 130

Anders CPA

DECEMBER 8, 2022

The end of the year is an opportunity to get your affairs in order for the year ahead, and when it comes to tax planning, the sooner you begin preparations the better. As 2023 approaches, there are actions that can be taken now to offset or minimize your tax burden. Qualified Business Income (QBI) Optimization. CONTACT ANDERS.

tax planning 52

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CTP

NOVEMBER 16, 2021

As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company, since what is advantageous for one is often disadvantageous for the other. On top of that, you will also need to consider how different entity types are treated from a tax perspective.

tax planning 52

tax planning Tax Sales tax return 52

CTP

NOVEMBER 9, 2021

As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company. Buyers and sellers tend to have diametrically opposed preferences, since what is advantageous for one is often disadvantageous for the other from a tax perspective.

tax planning 40

tax planning Tax Sales 40

Snyder

APRIL 10, 2023

But can you ease the strain and optimize tax filing for e-commerce companies with lots of sales? Recording Amazon sales tax correctly Travis, who has been working with Amazon businesses for several years, knows first hand the challenges of Amazon sales tax collection and working with the Marketplace Facilitator Tax.

Sales 52

Sales E-commerce Tax Technology 52

Withum

FEBRUARY 15, 2024

Tax loss harvesting is an income tax planning strategy that involves selling investments at a loss with the intent to offset capital gain income. This strategy is beneficial to taxpayers who have large capital gain income and are seeking ways to lower their related income tax liability.

Tax 123

Tax income tax New Jersey CPA 123

Basis 365

NOVEMBER 26, 2024

Gross profit is the revenue remaining after subtracting the cost of goods sold (COGS, for product-based businesses) or cost of sales (COS, for service-based businesses). Net profit , on the other hand, is what remains after all operating expenses, taxes, interest, and other costs are deducted from your total revenue.

Non-Profits 59

Non-Profits Technology Tax tax planning 59

CTP

NOVEMBER 2, 2021

Tax planners need to employ different strategies depending on whether they’re representing the buyer or the seller in the sale of a company. Buyers and sellers have competing interests when it comes to tax advantages—what is good for the buyer is often bad for the seller and vice versa.

tax planning 40

tax planning Tax Sales 40

CTP

JUNE 10, 2022

This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making. The most common type of business sale is when an entity sells its business assets.

Sales 52

Sales Tax income tax tax return 52