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Paying Too Much in Taxes

Travel When traveling for business, it is important to keep track of all expenses that you have. A wide variety of expenses during travel are deductible to a business, anywhere from how you got there, such as bus, flight or train, to what you …

Actived: 9 days ago

URL: https://anderscpa.com/paying-too-much-taxes-common-expense-deductions-startups/

Analyzing a Job Offer: Key Factors You Should Consider

(6 days ago) 7) Travel. Hopefully by the time you’re receiving a job offer you’ve put some thought towards whether or not you are comfortable with traveling for work. Does this position require travel? If so, what percentage of time is travel required? Are there potential opportunities to travel internationally?

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Checklist for Opening Another Restaurant

(3 days ago) Do your customers travel from a distance to visit your restaurant? Do you have funding? Will opening another restaurant increase your capital? Steps for Opening a Successful Restaurant. If the answers are yes to the above questions, you may be ready and should consider each of the following steps as you expand your restaurant business. Finalize

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2020 Payroll Tax and Withholdings Update

(3 days ago) The standard mileage rate for 2020 will be 57.5 cents per mile for business travel. The 2020 rate for medical travel and moving costs will be 17 cents per mile. The charitable mileage rate will remain at 14 cents per mile. Earned Income Credit

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St. Louis Regional Chamber Creates Business Information

(4 days ago) The website resources features essential COVID-19 information, a coronavirus toolkit, business and regional resources and travel and event updates. Visit the COVID-19 Regional Business Information center , or drill down through the links below:

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Employer Payroll Tax Obligations When Employees Work Out

(8 days ago) State Taxes. Employers are expected to withhold state income tax from an employee’s wages if that employee is subject to state income tax unless noted below. Each state has its own requirements for withholding taxes for out-of-state employees. The following states do not have state withholding tax; Alaska, Florida, Nevada, South Dakota, Texas

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How to Make the Most of Career Fairs and Networking as a

(5 days ago) Pro tip: invest in a travel steamer. Having one will save your life when it comes to your professional attire. Wearing wrinkled clothing is the best way to make a bad impression. You only have one opportunity to make a first impression, make it a good one. Don’t forget the shoes. A pair of nice shoes is one of the more expensive things on the

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Working Remotely in Different States

(7 days ago) With many companies either extending their remote work timeline due to COVID-19 or permanently switching to a remote work structure, it’s important for employees to understand the various tax implications of working remotely. Some people are taking the opportunity to travel or move to other states while they can work from anywhere.

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Standard Mileage Method Actual Expense Method St Louis CPA

(9 days ago) If you drive a personal car for work you can deduct part of the vehicle expenses on your tax return, and in turn lower your taxes. There are two ways to deduct business related vehicle expenses, the Standard Mileage Method and the Actual Expense Method.

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Reaching Financial Goals Needs vs. Wants Pyramid Exit

(1 days ago) Would we like to travel the world? Purchase a second home? Whatever your dreams entail, address them with an expected level of spending needed to accomplish this goal. Finally, it’s time to move to the top of the pyramid. This section is composed purely of wants, and provides the opportunity to one day have to consider gifting to the next

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Will Telehealth Services Continue Beyond COVID-19

(8 days ago) Scrupulous review of patient throughput data will be necessary to project revenues as generally telehealth encounters are faster and practitioners can be more efficient without travel time between patients, which creates an opportunity for higher patient service volumes.

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Principal + Forensic and Litigation

(8 days ago) Ability to travel on an infrequent basis; All applicants for this position must be authorized to work in the United States now and in the future without requiring sponsorship. We encourage employee development and offer an attractive compensation and benefits package, including 401(k) plan, health/dental and life insurance, flexible spending

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Anders Startup Client Spotlight Sunstation USA St

(2 days ago) Each month, we offer our startup clients the opportunity to share their story and showcase their business in our Startup Newsletter. This month’s featured emerging company is the community sunscreen dispenser startup, Sunstation USA.

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PPP 1 and 2 Loans: What Expenses are Considered Covered

(6 days ago) Once you have either a PPP1 or PPP2 loan, it’s important to understand what costs are covered so you can maximize forgiveness. Similar to the first round, 60% of PPP2 funds will need to be used for payroll and 40% can be used for non-payroll expenses. Below is a list of nonpayroll costs that qualify and the related eligibility and

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Spring Training 2019: New Tax Law Swings Away at Top

(Just Now) Some typical employee business expenses that are no longer deductible are agent fees, spring training or training camp lodging expenses, clubhouse dues, travel expenses and off-season training. If Bryce Harper paid Scott Boras the typical agent fee on $330 million, which would calculate out to be $9,900,000 if he pays 3%, Bryce would see a huge

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CARES Act: Impacts and Benefits for Businesses

(Just Now) A partial or full suspension of the operation of their trade or business during the calendar quarter due to governmental orders that limited commerce, travel, or group meetings due to COVID-19; A significant decline in gross receipts from 2019

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2% Floor Itemized Deductions Employee Expenses Trump

(6 days ago) Deductible expenses subject to the 2% floor includes: Unreimbursed employee business expenses such as: Expenses for uniforms and special clothing. Work-related education expenses to maintain or improve skills required for the position or to meet the demands of the employer. Job-hunting expenses for a position in the same trade or business.

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