You can do a few things to help reduce your tax bill, and one of them is to make sure you are taking advantage of all the deductions and tax breaks available to you. Another way to help lower your taxes is to try to negotiate a payment plan with the IRS. If you are …
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As a business owner, you know payroll can be a challenging task. For example, you must remember many things when paying your employees, from withholdings and deductions to filing taxes. Otherwise, you could experience losses not just in your computations, but also due to tax liabilities. Here are five of the most common payroll challenges …
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There are many intricacies to managing a start-up. There are multiple aspects of business and product development that need to be overseen, such as marketing and manpower management. While we can point to many different factors that need to be overseen, accounting is one aspect that must never be overlooked. Despite the huge impact of …
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Starting a business requires more than the guts to begin from nothing. It also needs management skills, including accounting, to survive, grow, and expand. However, for new businesses, it might not be part of their business plan to hire an accountant early on. But why should companies invest in accounting? Here are some ideas. 1. …
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As a small business owner, you know that wearing many hats is a prerequisite for success. You’re juggling branding, marketing, and customer relationships, all while trying to keep your business on track financially. But even with all that on your plate, don’t forget the importance of a solid accounting and bookkeeping system. Your finances are …
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Every time tax season comes up, you may be in a state of panic, thinking about what you need to do and file. If you’re a small business or just starting, this time may be especially confusing. Don’t worry, though, because you have come to the right place. In this article, we will guide you …
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When a lender or other party requests a business’s financial statements, they may ask for statements that have been audited, reviewed, or compiled by a certified public accountant (CPA). These requests are usually made in order to gain some assurance that the company’s financial statements are accurate. However, it is important to note that there …
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What is an IRS Audit? An IRS audit is a thorough inspection of the financial records of your business. It is the process through which the IRS evaluates your tax filing records. The IRS may need proof of transactions reported by your business to claim tax deductions, credits, and donations. The IRS process starts with …
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Non-Profit CPA A non-profit CPA can help the entity to set up a transparent accounting system. Many non-profit entities volunteer this complex task to unprofessional staff that may lead to penalties and often revocation of the tax-exempt status. Let us discuss what is the role of non-profit CPA and the services on offer. What is …
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Tax Preparer Tax Preparer | Filing taxes can be a simple task for some individuals that are familiar with the process. For others, it can be a scary thought and a time-consuming activity. There are a few talking points when choosing between a tax preparer and filing online taxes yourself. Let us discuss them briefly. …
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