Small Biz Trends

MAY 26, 2022

In this inflationary environment, many businesses must raise their prices to continue paying higher wages, taxes, and expenses and at least stay even in terms of profitability. But don’t overlook the impact that higher prices have on taxes. Income taxes. Self-employment tax. Additional Medicare taxes.

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Wholesale Returns Location Planning 143

Small Biz Trends

SEPTEMBER 30, 2022

The Inflation Reduction Act of 2022, which became law on August 16, 2022, contains various tax incentives for your business to become more environmentally friendly. Some tax breaks are designed for large businesses that can invest in building factories to accelerate U.S. But some tax breaks can be used by small businesses.

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Small Biz Trends

JUNE 1, 2022

While it might be easy to assume this tax-advantaged account is a benefit available only to large companies, the option is also a possibility for small businesses. An HSA is a tax-advantaged medical savings account that allows participants to save pre-tax dollars for future qualified medical expenses. Save on Taxes.

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Retail TouchPoints

JULY 19, 2023

Customers can then support the needs of their local school by rounding up their purchase total and donating the change at checkout, or by purchasing items on a school’s Spark Good Registry.

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Retail Minded

JUNE 8, 2023

Tackling your tax bill can be a daunting task, but with proper planning, you can considerably reduce the amount owed this year. By exploring various avenues, from maximizing deductions to investing in retirement savings, you’ll unlock multiple ways to ease your financial burden.

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Payment Services Accounting Planning Returns 52

Inside Retail

SEPTEMBER 20, 2021

Participating brands, which are offering discounts throughout the month, are asked to also make a tax-deductible donation or pledge of product to Thread Together. The campaign is once again partnering with Thread Together to help clothe the needy, and provide a platform for local brands to act more sustainably and meaningfully.

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Small Biz Trends

JANUARY 3, 2023

It is tax season again and many people will be looking to find out how to file taxes and for the right places to go to insure it is done correctly. We will be looking at eight of the best tax preparation services to help you with your 2023 taxes. What are Tax Preparation Services? Let’s get started.

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Independent Retailer

JANUARY 24, 2023

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions significantly impact your overall tax obligations. By planning early, your business can stay on top of the paperwork that comes in fast and furious in the early part of the tax year.

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Inside Retail

SEPTEMBER 16, 2021

Meanwhile accountants can discuss tax-effective strategies and occupation-specific deductions. Just ensure that whoever you introduce staff to is suitably qualified and experienced – only licenced professionals are qualified to give financial advice or tax advice. Provide resources.

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Small Biz Trends

MAY 24, 2022

House Democrats are calling on the Internal Revenue Service (IRS) to boost drivers’ mileage deduction benefits. Bloomberg reports that Democrats are urging the IRS to increase the tax break to help small businesses that rely on heavy mileage, including truckers, drivers and other transportation-related businesses with soaring costs.

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Retail Smart Guys

SEPTEMBER 14, 2023

For many business owners and entrepreneurs, bookkeeping and tax management can feel like a never-ending battle. The mountains of receipts, confusing spreadsheets, and the looming tax deadlines can create a sense of chaos. Maintain Strict Organization Organization is key to efficient bookkeeping and tax management.

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Retail Focus

JANUARY 30, 2023

It also offers potential tax benefits like interest deductions and depreciation write-offs that make investing in commercial real estate even more attractive. Managing Risks and Understanding Tax Implications When using home equity to invest in commercial real estate, there are certain risks that must be managed.

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Finance Returns Planning Accounting 130

Retail Smart Guys

DECEMBER 21, 2023

As tax season approaches, the financial demands of managing your retail store may be causing stress. We always tell our clients that tax season doesn’t have to be daunting. Retail Smart Guys ensures you remain compliant with tax laws, utilizing our expertise in tax codes, deductions, and credits.

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Retail Minded

MAY 22, 2023

Taxes are financial obligations levied by the government on its citizens to fund public projects and government spending. But, is it possible to minimize the taxes you pay at the end of each year? The answer is yes, through tax planning. Tax planning involves financial planning to achieve tax efficiency.

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Retail Smart Guys

NOVEMBER 14, 2023

Countless transactions, taxes, and fluctuating income streams can make the journey challenging. Navigating the labyrinth of tax regulations can be daunting. We ensure that our clients remain compliant with all tax laws. Managing finances can be a formidable task.

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Small Biz Trends

MAY 16, 2022

Premiums aren’t tax-deductible. The premiums are tax-deductible as a business expense. A business life insurance protects that investment: The business life policy payout is tax-free income and can cover business loans, such as mortgage payments, and other debts. What is Business Owner Life Insurance?

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Small Biz Trends

DECEMBER 16, 2022

The Top 25 Small Business Tax Deductions for the 2022 Tax Year. If you’re a small business owner, you know what an arduous undertaking it is to manage your taxes. Free money to start a business usually comes in the form of grants.

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Small Biz Trends

JULY 18, 2022

There are a few types of small business health insurance, each with its own benefits, deductibles and costs. HDHP – A high deductible health plan can be a risk for those that are uncomfortable paying out of pocket for medical care. Best For: High deductible health plan options. Best For: Flexible premiums and deductibles.

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Small Biz Trends

JUNE 16, 2022

In the latter case, the company pays a portion of the insurance premium, while the remainder is deducted from each employee’s paycheck. Choose a high deductible healthcare plan and combine it with a health savings account. Obtain tax credits by offering a qualified healthcare plan through the SHOP marketplace.

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Accounting Planning Location Shopping 98

Mass Relators

MARCH 7, 2024

per diluted share) tax benefit due to the deductibility of the $15 per share special dividend to the extent received by 401(k) plan participants. Net income for the quarter was $1,743 million, $3.92 per diluted share, compared to $1,466 million, $3.30 per diluted share, last year. Net income for the first 24 weeks was $3.33

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Wholesale Planning Marketing 52

Small Biz Trends

JULY 15, 2022

Last year, the Biden Administration and Congress Proposed a series of new tax increases and mandates. Small businesses don’t need another tax. In 2021 the Biden Administration and Congress proposed a series of new tax increases and mandates, including the following. Increasing the top capital gains tax rates.

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Accounting Returns Marketing 87

Retail Focus

AUGUST 8, 2023

Outsourcing accounting and bookkeeping tasks to professionals can help you keep track of expenses, revenues, and taxes efficiently. By outsourcing payroll management, timely salary disbursements, tax deductions, and labor regulation compliance become hassle-free.

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Retail Minded

NOVEMBER 22, 2022

Whether you’re a company that staffs employees or a self-employed individual, you need to know how much you made each year, calculate your taxes, and reduce the risk of legal errors. Pay stub generators are free or paid software that populates and auto-completes income, tax, and deductions onto a pay stub template.

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Independent Retailer

OCTOBER 5, 2022

Running a business is no small task, and especially once tax season comes around or even just with setting financial goals, business owners may not possess all of the knowledge necessary in order to set their brands up for success. Follow these tips to get the most out of your accountant.

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Small Biz Trends

JULY 31, 2022

As a result, leaders may need to pay more or less on their taxes. It also makes it challenging if the IRS or your tax accountant starts asking questions.” Forgetting About Upcoming Taxes. “One accounting mistake that new business owners might tend to make is not keeping track of upcoming taxes.

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Independent Retailer

MARCH 31, 2022

The implications are a new set of tax challenges – and one or two opportunities – for any company doing business online. Here is a look at what is driving the change and the new tax complexities we are seeing emerge: Navigating Changes to Tax Rates and Rules. Learning to Serve a Global Tax Base. Export taxes.

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Small Biz Trends

MAY 27, 2022

Speaking of inflation and high prices, here is a timely article that answers how raising prices at your place of business impacts your taxes. With 70% of businesses having raised their prices to deal with inflation, knowing how it affects tax liabilities is a must. How Does Raising Your Company’s Prices Impact Your Taxes.

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Management Planning ATS Marketing 141

365 Retail

JUNE 7, 2021

The Chancellor has hailed a “historic” decision by G7 countries to agree a global base rate of corporation tax and reforms to the tax system aimed at targeting online tech giants. Chancellor Rishi Sunak branded the G7 tax decisions ‘historic’ (Alberto Pezzali/PA). Rishi Sunak with his G7 colleagues (Henry Nicholls/PA).

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Small Biz Trends

MAY 24, 2022

Through a small business health insurance option, a company contributes toward a portion of the cost as a part of the workers’ salary, then each employee pays the difference through a payroll deduction. That way, qualified employees can make pre-tax contributions to the HSA and use the funds to pay for non-covered healthcare costs.

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Planning Accounting Shopping Consumer 105

Independent Retailer

DECEMBER 23, 2022

Pro Tip: Donating Excess Wholesale Inventory Can Earn Your Business a Tax Deduction. By donating that new, idle merchandise to charity, your business can earn a federal income tax deduction under Section 170 ( e )(3) of the U.S. Deductions may be up to twice-cost. . Internal Revenue Code. back to top.

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Small Biz Trends

MAY 2, 2022

Provide tax services to limit your end-of-year payments. Stay on top of tax returns: An accounting service should also track your tax commitments so you can pay quarterly and track all potential deductions. Services include taxes, bookkeeping, payroll, and business formation. Pros: 100% accuracy guarantee on taxes.

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Accounting Payment Services Finance Planning 111

Retail TouchPoints

AUGUST 2, 2022

Marco Rubio introduced the No Tax Breaks for Radical Corporate Activism Act , which would amend the federal tax code by prohibiting companies from deducting expenses related to the costs for their employees who are seeking abortion care. Protective actions have been taken to counteract the most restrictive abortion bans.

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Small Biz Trends

MAY 31, 2022

One of your tax return clients slips on a wet floor in your office bathroom, tearing an ACL. You give advice to a tax return client, recommending a different way to handle equipment depreciation to reduce taxes. Your advice wasn’t correct and the client owes back taxes. Carefully consider the deductible.

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Payment Services Advertising Returns Accounting 119

365 Retail

MAY 20, 2024

For a certain additional payment, the deductible (your liability in case of an accident) will be zero. Customer pays taxes, if necessary. 3-30 days after returning the car, this money will be returned to the card. Car rental companies almost always offer additional insurance for your rented vehicle.

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Payment Services Returns Consumer Location 52

Small Biz Trends

JUNE 29, 2022

Get tax deductions. You may be able to get tax deductions on your equipment loan payments. Financing equipment can help you build your business credit score, which can be helpful if you ever need to take out a business loan in the future. Flexible financing options.

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Inside Retail

MARCH 30, 2022

The package is aimed at cutting fuel prices by 22 cents per litre for the next six months, as well as giving low-and-middle income earners a tax bonus of $420. A 20 per cent text deduction for digital investments for small businesses, such as cybersecurity and web design, will also be implemented.

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Small Biz Trends

APRIL 27, 2022

Payroll Deduction IRA. Tax credits. If you’re setting up a retirement plan, you may be eligible for one or two federal income tax credits for your efforts. Find details about which states have or are considering such mandated plans from ADP. Links to the state plans, with details about withholding, are provided by ADP.

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