Basis 365

FEBRUARY 15, 2023

It's OK to ask an outsourced accountant for help with your daily books. Before we get into the reasons, let's first look at how the duties of accountants and bookkeepers differ. This will allow you and your accountant to make better financial decisions. Why not hire bookkeepers and tax accountants for the year?

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TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. Returns are typically due either monthly, quarterly, or annually. Know your Deadlines. Due dates also vary.

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MyIRSRelief

MARCH 15, 2023

As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action.

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MyIRSRelief

SEPTEMBER 6, 2024

Navigating the complex world of taxes can be a daunting task for small business owners and self-employed individuals. The intricacies of tax laws, the constant updates, and the myriad of forms and deadlines can make tax season a stressful time. Get tax help today by calling us at 1-877-788-2937.

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CPA Practice

JUNE 15, 2023

The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, according to a new report from the Treasury Inspector General for Tax Administration. 105 taxpayers didn’t receive all of their eligible child tax credit, estimated at $139,000. This process uncovered 3.8

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CPA Practice

JANUARY 8, 2024

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. million individual tax returns to be filed by the April 15, 2024, tax deadline. Although the IRS will not officially begin accepting and processing tax returns until Jan. The agency expects more than 128.7

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CPA Practice

JANUARY 29, 2024

The Internal Revenue Service opened the 2024 tax season on January 29, 2024, accepting and processing federal individual tax returns, and announcing that it expects more than 146 million individual tax returns for 2023 to be filed this filing season. Online Account. The Where’s My Refund?

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MyIRSRelief

OCTOBER 11, 2024

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

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PYMNTS

JANUARY 15, 2019

Bitcoin investors took a massive hit in 2018 – and, according to personal finance company Credit Karma, most of them don’t realize they can write off the losses on their tax returns. According to a report in MarketWatch , citing Jagjit Chawla, general manager of tax at Credit Karma, U.S. investors lost $1.7

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CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns.

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CPA Practice

DECEMBER 7, 2024

There will soon be a new professional tax preparation system available, with options for e-filing returns for forms 1040, 1041, 1120, 1120S and 1065s. These are the most common annual tax returns, representing individuals, estates, corporations, and partnerships.

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MyIRSRelief

MARCH 15, 2021

A separate IRS analysis of 64,317 delinquent tax cases showed that the IRS collected less than 50 percent of tax debt owed by these high-income taxpayers within 52 weeks of assignment to Field Collection. The intentional failure to pay Federal income tax is a crime. million paid the IRS an average of 39 percent of what they owe.

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Shay CPA

DECEMBER 7, 2022

Before you shut down your tech company, you need to take some final tax steps. . We’ve seen founders left holding the bag in resolving tax issues, even years after they thought they had closed their companies. Sales tax accounts. State franchise and income tax accounts. Especially your state accounts.

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. What Does a Tax Consultant Do?

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CPA Practice

NOVEMBER 11, 2024

This webinar will be held on Tuesday, December 3, 2024 at 1:00pm ET Sponsor: Avalara Duration: 1 Hour Register Now We’ll demonstrate how automation integrates with popular accounting platforms to save time, reduce risk, and enhance efficiency. We live and breathe sales tax and license compliance. Plus, earn free CPE credit!

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Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. 57% of accounting firms plan to increase fees across all services in 2025. Or at least half-in. It sure took them long enough to get the memo.

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MyIRSRelief

MARCH 15, 2021

A separate IRS analysis of 64,317 delinquent tax cases showed that the IRS collected less than 50 percent of tax debt owed by these high-income taxpayers within 52 weeks of assignment to Field Collection. The intentional failure to pay Federal income tax is a crime. million paid the IRS an average of 39 percent of what they owe.

Tax 130

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LyfeAccounting

MARCH 19, 2021

Where is my tax refund? This is a question we get asked all the time when our clients have done everything right and yet they still haven’t received their tax refund. Well in this post, we want to help eliminate all of the questions and confusion around: Where your tax refund is? What Stage Your Tax Refund Is?

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xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. State or local property tax.

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MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations. Get professional help by calling us at 1-877-78-TAXES [1-877-788-2937].

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Going Concern

SEPTEMBER 5, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Accountingfly can help!

Real Estate 105

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ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

Tax 102

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CPA Practice

AUGUST 19, 2024

Learning Objectives: Understanding how integrations between tax technology software works, what purpose they serve, and how simple they are to use. Discover ways to better prepare your firm for staffing issues, elevating remote staff workflows, and boost your firm appeal to the next generation of tax professionals.

Technology 97

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CPA Practice

JUNE 12, 2024

This webinar will be held on Tuesday, July 9, 2024 at 1:00pm ET Sponsor: SafeSend Duration: 1 Hour Register Now With so many new features, automation technologies and firm modernizations coming out in 2024, Tax & Accounting professionals have a lot to keep up with.

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Xero

AUGUST 11, 2022

Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). The government legislation with the goal of digitising the tax process has been underway for some time, and the next step is looming large on the horizon.

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CPA Practice

SEPTEMBER 17, 2024

Explore key topics for the upcoming tax season, including recent tax law changes, the impact of evolving technology, and adjustments to reporting requirements. Today, he is Brand Ambassador, helping shape the future and growth of one of the largest professional tax software companies in the nation.

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inDinero Tax Tips

NOVEMBER 4, 2021

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. An audit is the way the Internal Revenue Service (IRS) ensures that what’s being reported on your tax return matches your business activities.

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KROST

JULY 1, 2022

million paper tax returns wait to be processed. million within the last 12 months despite continuous efforts to unclog the excess tax returns. More than 90% of taxpayers file returns electronically, but Read the full article. The backlog continues to surge, increasing by 1.3

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Withum

JUNE 24, 2022

One unfortunate side effect of the ERC explosion has been the proliferation of tax credit companies offering dubious advice in exchange for outsize fees. The memos are so generic that they would not even qualify as tax advice that clients can rely on to assert a reasonable cause defense to penalties.

Tax 126

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CPA Practice

APRIL 24, 2024

A new bill recently introduced by lawmakers in both the House of Representatives and the Senate would improve the IRS’s math error procedures—a power used by the agency to quickly adjust a taxpayer’s federal income tax return if it contains a simple mistake or clerical error. You owe money on your taxes as a result of these changes.

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Withum

DECEMBER 4, 2024

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Please work with your tax advisor for future planning.

Tax 105

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CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

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Going Concern

NOVEMBER 8, 2024

The firm’s team members, who were used to working virtually, understood the importance of setting up workflows, processes, and controls before pushing tax return billable hours offshore. According to 20 seconds of Googling, the median salary for a tax accountant in India is ₹ 600,000 ($7,109 USD).

tax return 110

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Randal DeHart

APRIL 1, 2022

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. Because the QuickBooks file is clean, the Tax Accountant will have fewer questions for you.

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Reckon

JUNE 21, 2022

Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. All you need is a few software tools…and two separate business bank accounts! (A

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SMBAccountant

DECEMBER 21, 2022

Some of those questions can include: - “Can I afford to hire someone else?” - “Is the business profitable?” - “Where can I cut costs or increase revenue?” - “Did I make money on a specific project, contract, or product?” - “What is my estimated tax payment? There are different types of accountants which specialize in different areas.

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Cherry Bekaert

MAY 6, 2024

Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. By deferring capital gains taxes, sellers can potentially reduce their tax burden and reinvest in new opportunities.

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