TaxConnections


 

Archive for Tax Tips

Building The Pipeline For Your Firm—3-Part Webinar Starting December 7th

Monika Miles

Most of us don’t like to have to go out and sell – partly because it makes us feel like we are “asking” for money. In my last Rainmaking blog, I asserted that it’s hard to ask for money and that theme continues to resonate. But what if asking for money were easier? What if it didn’t have to seem like asking for money? What if asking your clients to assist them with their tax, accounting and finance needs just seemed like an ordinary part of the conversation?

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Complimentary Webinar – The Millennial Tax Manager – Saturday, December 3rd, 2016

Kat Jennings

The world is changing fast for those in the tax profession and as a result, it is an exciting time! As a globally recognized tax search executive to multinational corporations, public accounting firms, and law firms, Kat Jennings, TaxConnections CEO will share with millennials valuable information that will teach precisely how to attain success in a tax career. Over the years, her client base included top companies which gives her a real world understanding what it takes to navigate a tax career long term.

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The Millennial Tax Manager – Complimentary Webinar – Saturday, December 3rd, 2016

Kat Jennings

The world is changing fast for those in the tax profession and as a result, it is an exciting time! As a globally recognized tax search executive to multinational corporations, public accounting firms, and law firms, Kat Jennings, TaxConnections CEO will share with millennials valuable information that will teach precisely how to attain success in a tax career. Over the years, her client base included top companies which gives her a real world understanding what it takes to navigate a tax career long term.

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Choosing Between A ‘C’ OR ‘S’ Corporation – Weighing Tax Attributes

Ron Oddo

Question most CPAs as to what business form they suggest for the business clients and they typically answer, “A C Corporation—at least in the early capital formation years of the business.” Ask any Investment Banker or other Transaction Advisor what entity they prefer and you will likely hear, “An S Corporation or LLC (Limited Liability Company), or perhaps a partnership or sole proprietorship. Anything, anything, but a C Corporation!”

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Checklist For Tax Practitioners – Look At The IRS Sharing Economy Tax Center

Annette Nellen

In September, the IRS created a Sharing Economy Tax Center with links to tax information to help freelancers and those renting property. This center offers general information primarily to help individuals understand related tax matters. But it’s not enough for practitioners, as it doesn’t cover all possible tax issues (such as state and local ones) or provide links to relevant law provisions.

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General Tax Benefits Of Charitably Giving

John Dundon

Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures:

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Canadian FAQ #205 – Cash on a Balance Sheet

Grant Gilmour

Tax Question:

What is Cash on a Balance Sheet?

Facts:

The Cash category appears under Current Assets on a Balance Sheet. Most companies have bank accounts which they use to keep a record of their deposits and payments. Cash generally includes all bank accounts and petty cash.

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Why Tax Deductions Are Important For Small Business – Free MileIQ App

MileIQ

Are you a business professional who has to gather all your miles to expense for your job? Do you actually have the time to record all the mileage you traveled with your busy schedule?

MileIQ was created in order to alleviate the problems associated with tracking business travel. 55 million U.S. workers have the ability to expense the miles they drive. Using MileIQ comes with features that make it extreme user friendly. At TaxConnections, we offer this app free of charge to all Tax Professionals.

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Avoid Credit Crisis With Pre-Holiday Preventative Tips

Barry Fowler

With the holidays just around the corner, many people start thinking about gift giving. The holidays are famous for sending many people into a downward credit crisis spiral.

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Small Business Expense Management, Tracking 101

mile-iq

One of the largest issues small business owners face is keeping track of their expenses. Not only does this make keeping the books difficult, it could potentially have major tax implications. In this post, we’ll dive into some of the key things to be aware of when it comes to small business expense management and tracking.

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How To Create A Balance Sheet

mile-iq

What is the net worth of your business? One way that you, your investors or creditors can tell is by looking at your balance sheet. This financial statement offers a snapshot of the health of your business. It shows your assets versus liabilities and equity. If you’re not sure how to document these financials, read on to learn how to create a balance sheet.

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How To Calculate Profit Margin

MileIQ

How do you know if your business is profitable? One indicator is your profit margin. This measure of profitability considers your gross, operating or net profit as a percentage of revenues. But how do you calculate these ratios? Read on to learn how to calculate profit margin.

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