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Are tax filing deadlines looming over you? They do every year, and if you’ve ever faced a fine that could have been avoided, you know the frustration that comes with it. But fear not! By reading this blog and saving the important filing dates to your calendar, you can leave the IRS behind and stay...

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Taxes can often feel confusing, especially when they come in different forms like excise tax and sales tax. Both are crucial revenue sources for governments, but they serve distinct purposes and are applied in unique ways. If you’re a business owner, understanding these differences is vital to rem...

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A payroll check is a form of payment issued by an employer to an employee for work performed during a specific pay period. Payroll checks or paychecks are an important part of the relationship between employer and employee. It reflects compensation for the employee’s effort, time, and contribution...

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The Communications Service Tax (CST) is a tax imposed on various communications services, including telephone, mobile, internet, and satellite. Introduced to generate revenue for governments, CST ensures that companies providing these services contribute a fair share to public finances. As technolog...

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Taxes in California can take a big bite out of the profits you earn from your rental properties. Real estate investors are always looking for ways to reduce the tax impact on their income. While it’s unlikely to completely avoid paying taxes on rental income, with the right strategies and a solid ...

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We have to hand it to the name givers. You might be wondering: Previously, we discussed phantom tax and now mud tax. Since when did taxes get muddy? Mud taxes are not what you see on a rainy day; they can impact you significantly, especially if you own a property. Mud tax is the primary revenue sour...

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Tax season- the time of year that can turn even the most enthusiastic small business owner into a bundle of nerves. But not to worry fellow entrepreneurs! Understanding the ins and outs of small business taxes is the first step toward getting on this complex terrain with confidence. So, grab a cup o...

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Payroll is a crucial part of owning a business. It can cost you if you do it wrong. The IRS penalizes businesses that incorrectly calculate their payroll taxes. Businesses should consider varying salaries, benefit contributions, shift differentials, and other elements when paying employees. However,...

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Phantom tax often occurs in partnerships, investments, and real estate transactions. It refers to a taxable gross income the taxpayer has not received as cash. It typically occurs when taxable income is generated but not distributed to the taxpayer. For example, in a real estate investment trust (RE...

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You may think that the AEC (Architecture, Engineering, and Construction) industry has so much more to do than choosing bookkeeping services. Still, efficient finance management is critical to managing accurate budgets and project timelines to ensure overall business health. Bookkeeping is crucial, i...

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