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Audit vs. Review vs. Compilation: Simplified

Understanding the varying types of attestation services can benefit the growth and development of your organization. This guide breaks down the difference between audits, reviews, and compilation, so that you can make an informed decision.

The Impact of Recent Developments in VAT Compliance

Legislative changes in 2024 have affected VAT compliance, particularly in the UK. This article breaks down all the developments and future changes, including what types of businesses may be affected.

10-Step Guide to Mastering Payroll Processing

This complete guide details all the essential steps and strategies to streamlining your payroll operations and elevating your business’s success. Perfect for old and new business looking to understand the process from start to finish.

Understanding Clean Vehicle Tax Credits: Incentivizing Sustainable Transportation

The federal government’s initiative to promote sustainability in transportation is facilitated through three clean vehicle tax credits aimed at reducing the purchase prices of electric, plug-in hybrid, and fuel cell vehicles. This article explores each of these clean vehicle tax credits in-depth, shedding light on their intricacies and their impact on your taxes and economic policy.

Important 2024 Tax Dates

In the midst of tax season, keeping track of all the relevant 2024 tax dates and deadlines can be confusing. Refer to this quick guide to make sure you never miss an important deadline.

Why You Should File a Tax Extension

Filing a tax extension is a strategic move that provides numerous advantages, contrary to some common misconceptions. With tax deadlines getting closer, we’ve compiled a guide for you as to what tax extensions are, the list of benefits for filing a tax extension, and how to file an extension, should you choose to.

2024 Tax Brackets

Understanding the 2024 tax brackets is crucial for taxpayers. This comprehensive guide breaks down the IRS’s current Federal Income tax brackets, helping you navigate the complexities of tax filing.

Staying Vigilant: Employee Retention Credit Scams

On March 20th, the Internal Revenue Service (IRS) issued a press release warning taxpayers about the 2023 dirty dozen tax scams one of which is related to Employee Retention Credits (ERCs). According to the IRS, aggressive promoters are making offers that are too good to be true, luring taxpayers into fraudulent schemes to claim these credits.

The 5 Pros of Outsourced Accounting

Outsourced accounting refers to the practice of hiring an external firm, like CKH Group, to handle a company’s financial and accounting operations. In this article, we discuss the benefits of outsourcing your accounting and finance functions.

Making the Most of Your Charitable Contributions

It is important to note that charitable contributions can only impact your tax bill if you choose to itemize your return. However, if you are doing so, this is a comprehensive guide to utilizing the Charitable Contributions tax deduction.

Everything You Need to Know About Student Loans

The Biden administration is furthering the pause on federal student loan payments, a program that began in March 2020 to help people who were struggling financially due to the impacts of Covid-19 pandemic.

The FTX Cryptocurrency Scandal

Only months ago, FTX, short for “Futures Exchange”, cryptocurrency was seemingly a huge success. Being valued at an estimated $32 billion in January and garnering massive support from celebrities. The platform was one of the biggest crypto trading exchanges and was recognized by the community as one of the more transparent crypto operations.

10 Helpful Small Business Tax Tips

Small Businesses can have tricky tax returns. Here are 10 helpful tax tips for small businesses.

Top 5 Tax Tips to Keep Your Summer Finances Cool

Here are some financial and tax tips to keep your summer cool! This guide provides 5 simple tax tips to help you.

Tax Terms Database

Tax Terminology can be hard to understand, but this guide will help you to learn what some of these tax terms mean.

Tax Guide to Cryptocurrency

The IRS now considers cryptocurrency to be property, and participating in crypto activities needs to be reported! Here is a guide to help you.

3 Financial Tips Following Graduation

Post-graduation life can feel freeing and blissful; however, it is good to get a head start on taking control of your finances. From new jobs to new cities, apartments, and expenses one thing you should not be stressing about is keeping up with your taxes. By taking advantage of these tax credits and tips, you should be starting off on a strong foot.

13 Common Tax Forms and What They are For

All of the IRS’s tax forms can be confusing. This small guide will help you understand some of the most used tax forms and what they are for.

What to Do if You Are Filing Your Return Late

The deadline to file a tax return is just around the corner. Worried about missing it? You still have time to file for an extension until Monday, April 18th. But if you wait any later, depending on your situation, it could mean you need to quickly take action to avoid owing anything more to the IRS.

Applying for a Federal Tax Extension

Tax deadlines seem to have a way of sneaking up on you, so filing for a tax extension might be something you need to do. If you need more time to prepare your return—whether you are busy with school, travel, a personal emergency, or are simply unprepared—you can request a six-month filing extension by submitting the proper form to the Internal Revenue Service. Here is what you need to know:

Tax Preparation Guide

With tax season now in motion, it is smart to start planning for the April 15th deadline if you have not done so yet. This tax preparation guide is here to help you get prepared!

Non-refundable Tax Credits

Non-refundable Tax Credits are basically tax credits that can only reduce a taxpayer’s liability. Any remaining amount from the credit is automatically forfeited by the taxpayer. These credits are also referred to as a “wasteable” tax credit, unlike refundable tax credits.

Understanding Refundable Tax Credits

A refundable tax credit can be applied to your tax bill and in some cases can generate a negative federal tax liability, meaning that your refundable tax credit can create a federal tax refund. For example, if you owed $1,000 in taxes and qualify for a $1,200 refundable credit, you would receive a $200 refund.

Federal Tax Levies & Liens

There is often confusion about the difference between federal tax levies & liens. If you aren’t a tax expert yourself, these terms can feel like they are in a different language. The terms “levy” and “lien” are not interchangeable, but they are closely linked. This article will break down everything you need to know about these important IRS penalties.

New 2022 Tax Brackets

On November 10th, 2021 the IRS announced their annual inflation adjustments to the 2022 federal income tax brackets. These adjustments impact more than 60 tax provisions. Here are the new numbers.

Important Tax Dates for 2022

With 2022 just around the corner, it is time to start thinking about the important tax dates for 2022 coming up in the new year. Here are some of the important dates to remember.

What You Need to Know About Tax Deductions

Tax deductions can help you save money— but only if you know what they are, how they work, and how to claim them. Here is a little guide to help you out. 

Load Shedding in South Africa

In an attempt to prevent severe blackouts, Eskom, South Africa’s largest electric utility company, has initiated its process of “load shedding”. The idea of load shedding may be a confusing concept for some, but for the members of our South Africa office, this has become a regular occurrence in their daily lives. It is important to understand this process and how it affects South African citizens.

All About the Child and Dependent Care Credit

The Child and Dependent Care Credit is a helpful refundable tax credit that assists families in paying for childcare. The credit specifically offers relief to parents who pay for the care of a qualifying child while they work or search for work. The amount of eligible expenses that qualify for the credit varies depending on a taxpayer’s income level.

What You Need to Know About Tax Relief

Engaging with companies like this could be a risky choice, if you owe taxes, but are unable to pay the IRS in full, there are a few legitimate IRS tax relief programs to help, through the agency’s Fresh Start initiative.

Claiming a Dependent

Claiming a tax dependent allows you to claim certain tax deductions and credits, and we will explain how to do so.

Everything You Need to Know About the Vaccine Mandate

On September 9th, 2021, President Biden ordered the Labor Department, also known as OSHA, to issue mandatory vaccine mandates for companies with 100+ employees.

Employee Retention Credit

The Employee Retention Credit (ERC) was put into place in March of 2020 under the CARES act as a temporary response to the impacts of the Coronavirus. This refundable tax credit was originally set to help companies keep employees on payroll.

Everything You Need to Know About the Child Tax Credit

What do the new advance child tax credit payments mean? Here is everything you need to know about what is changing, who is eligible, and how to receive the payments.

IRS Nonpayment Notices

Revenue Service has finally responded to a large number of complaints regarding incorrect unpaid tax notices. As a result, the mailing of three types of nonpayment notices have been suspended.

Why You Should Have a Trust Fund

As the tax season comes to a close, many look for ways to diversify their assets and plan their estate. A trust, or trust fund, is an estate planning tool that forms a legal entity to hold property or assets for a person or organization that is managed by a trustee.

Five Financial Steps Following Graduation

There are many changes following a college graduation. Moving away, finding a new job, the perfect apartment/house, etc. But you shouldn’t have to worry about your taxes.

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