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If you're a small business owner, you've probably already suffered through a few tax seasons. While taxes for individuals can be complex, filing business taxes is arguably even more challenging.
A tax-exempt organization is a business entity that does not have to pay federal income taxes. Nonprofits, which reinvest earnings to support their mission, are eligible to receive tax-exempt status.
CPAs also have a niche within the income tax return preparation industry. Many small to mid-sized firms have both a tax and an auditing department. Along with attorneys and Enrolled Agents, CPAs may represent taxpayers in matters before the Internal Revenue Service (IRS). Although the IRS regulates the practice of tax representation, it has no ...
Filing taxes is one American pastime that many Americans dread. With so many complicated forms, rules and tax rates, most taxpayers need assistance to complete their returns. While some use ...
The firm was founded in 1926 by Ira B. McGladrey (1883-1952) in Cedar Rapids, Iowa.McGladrey became a prominent figure in public accounting in Iowa, serving as President of the Iowa Society of Certified Public Accountants, chairman of the Iowa Board of Accountancy, as well as a member of the Rules Committee of the American Institute of Certified Public Accountants, the premier governing body ...
For example, Washington state does not have an income tax but levies a B&O (business and occupation tax) which is arguably a larger burden because the B&O tax is calculated as a percentage of revenue rather than a percentage of net income, like the corporate income tax. This means even loss-making enterprises are required to pay the tax.
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