Using Accounting Software To Perform Payroll Preparation In-House

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Businesses of all sizes must comply with regulations concerning payroll taxes. Many companies rely on a professional payroll service to help carry out their tax obligations. With the assistance of a certified public accountant (CPA), business owners can usually realize cost savings by moving the responsibility for payroll preparation from an outside firm back to the company. Like many other aspects of accounting, payroll preparation is well suited for automation. The frequency of required tax deposits is dependent on how quickly the deposits accumulate.…

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Easy Ways Real Estate Agents Can Lower Their Taxes

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Working in real estate can be a great way to work for yourself and have more flexibility while making a good income. But if you’re not careful around tax time, it can be a costly way to earn money. Between regular personal income taxes (both state and federal) and self employment taxes, you can lose between 15.3% and 54.9% (at the highest tax bracket of 39.6%) to the tax man. So, how can you reduce this number as much as possible?…

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Don't Panic! How To Deal With Filing Your Taxes Late

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Did you happen to forget to file your taxes this year? And, potentially, in prior years? First of all: don’t panic. This happens quite a lot. Some people just don’t realize that they need to file taxes; they may think that they’re under the reporting amount, or they might have falsely believed that someone else filed for them. Regardless, you do need to deal with the situation as soon as possible, but it isn’t the world ending scenario you might think it is.…

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