Business travel can be costly. Hotel bills, airfare or train tickets, cab fares, public transportation – it can all add up fast. Business travelers may be able to offset some of those costs by claiming business travel deductions when they file their taxes.
Rupali Mundada truly loves her work as a certified public accountant (CPA). She gets to use her analytical and client service skills to learn about a client’s business and build long-term relationships with the team. But no matter the client, all of them have the same goal when it comes to taxes: Saving money. Rupali is driven to help her clients achieve this goal while still complying with applicable laws.
Does your business operate across state lines? If so, you may be subject to taxes in more than one state.
In general, the earnings of foreign corporations are not taxed in the United States until the foreign corporation pays a dividend to its United States shareholders. In other words, there must be repatriation by the foreign corporation to US shareholders before earnings are taxable.
Certain US persons who hold foreign financial accounts must file the Report of Foreign Bank and Financial Accounts (FBAR) as part of their United States taxes each year. Penalties for failing to file FBAR correctly can be steep.
Everyone must pay taxes. But if you plan correctly, you can significantly reduce the amount of money that you owe to the government each year.
For entrepreneurs, it is important to have a strong accountant in your corner during every stage of your business’s life cycle – from start up to succession planning. But choosing the right accountant is not easy.
Some people may find that they have higher tax bills for 2021 than they have in previous years. During this live event, CPA Dimple Sankhla and Business Development and Outreach Manager Neha Mahajan discuss the many factors could contribute to this increase in taxes.
Small business owners can save on their taxes by taking advantage of tax credit opportunities. There are multiple small business tax credits that may be a fit for your business. Work closely with your Chugh CPAs, LLP professional to proactively plan and minimize your tax bill.
Corazon Chua truly enjoys that her role allows her to help clients manage their accounts with the firm.
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