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#wotc tax
larrygpotter · 1 month
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Why don't business owners activate their W.O.T.C. benefits after they see how much they can get?
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There are probably several reasons:
1. Lack of awareness: Many small business owners may not be fully aware of the WOTC program, that was launched back in 1942, and its potential benefits, leading them to overlook the opportunity to claim tax credits. To late now, you're reading this!
2. Complexity: The WOTC program can be overwhelming, especially for businesses with large volumes of applicants and new hires. Our proprietary software has scaled that hurdle!
3. Time and effort: Many believe the WOTC program to be time-consuming and may divert attention from other business operations. Not so with our automated software!
4. Automation and compliance: Business owners think they may still need to invest in systems or services to ensure compliance with the program's requirements. Our software needs no other systems or servces to be compliant!
5. Prioritization: Business owners may prioritize other aspects of their operations, such as sales, marketing, or product development, over the administrative tasks associated with claiming tax credits, but this software does 98% of the work!
6. Resource constraints: Small businesses, in particular, may have limited resources to dedicate to tax credit programs, and they might focus on more immediate business needs. The average cost is $5/mo with no contract required! Cheaper than what you pay for coffee in a month!!
To address these challenges, businesses can use our automated solutions to simplify the WOTC process, which can help them forecast potential benefits of up to $9600 per hire and stay current with changing tax credit laws.
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vander-12 · 10 months
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What You Don't Know About the ERC Could be Holding You Back
Many people have misconceptions about the Employee Retention Credit (ERC) program and the CARES Act. These misconceptions can lead to missed opportunities for businesses to receive much-needed financial support during these challenging times. Common Misconceptions One of the most common misconceptions about the ERC program is that it’s only available to large corporations. In reality, the…
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peppermintbatman · 1 year
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#OpenDND
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[Image ID: Red Background with white lettering with the hashtag Open D&D. End ID]
Here is an an open letter on the Open Gaming License, to Wizards of the Coast.
Looking at the names signed at the bottom, it includes big names: Mage Hand Press, DM Dave, Sly Flouish, Foundry VTT, Kibbles, Midnight Quills, Czepeku, Wyrmworks Publishing, Alchemy RPG, LegendKeeper, and so many more. (I respect all of the creators even if I didn’t include them, I’m just not reprinting all of them in terms of keeping a respectable length of this post).
This letter has been vetted by (at least one) lawyers and other PR services to make sure that what they are saying is factually correct (to avoid legal troubles) and summarized in a way that is easier to understand (to non intellectual property attorneys).
Visit the website here for more through information and to sign your name: https://www.opendnd.games/
Exerts from the open letter below:
The Open Gaming License (OGL) is a legal framework that allows creators to use the rules and ideas of roleplaying games in their own works.
However, Wizards of the Coast (WotC) has announced an updated OGL (version 1.1)—an attempt to dismantle the entire RPG industry. This new license intends to completely revoke the old OGL, a perpetual license designed to be irrevocable.
Nothing about this new license is “open”.
No matter the creator, it locks everyone into a new contract that restricts their work, makes it mandatory to report their projects and revenues to Wizards of the Coast, and gives WotC the legal right to reproduce and resell creators’ content without permission or compensation.
For the largest creators in the industry, WotC is imposing an impossible tax of 25%—based on their total sales, not profit. This is anti-competitive, monopolistic behavior designed to crush small businesses
Games such as Pathfinder 1E and 2E, 13th Age, Fudge, and Traveller—which use the 1.0 OGL as the backbone of their existence—will need to cease sales of upcoming products or give WotC 25% of their revenue to stay in compliance with the new license.
Virtual tabletops (VTTs) cannot operate. 
Diversity in the industry will shrink away, as projects from marginalized creators are effectively written out of the future.
#OpenDnD is a rallying cry under which creators and fans have unified to demand that WotC revoke the draconian 1.1 OGL and pledge to support the existing 1.0 OGL into future editions of their games. This isn’t an opportunity to litigate and tinker with a new license, but to return to the values of open gaming. Our community deserves an open future if we want our favorite games to not only survive, but thrive!!
If you are a creator, #DontSign the new agreement. If you love roleplaying games, let WotC know we won't support them without an #OpenDnD!
WotC has shown that they are the dragon on top of the hoard, willing to burn the thriving village if only to get a few more gold pieces. It’s time for us to band together as adventurers to defend our village from the terrible wyrm.
Tell Wizards that you support #OpenDnD by signing your name below.
https://www.opendnd.games/
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markrosewater · 1 year
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If it were designed under the current philosophy at WotC, could Rhystic Study Be a mono white card? If not, are there small tweaks that could be done to make it in pie, or would the base concept of the card (opponent is offered a choice between paying a tax or me drawing cards) Be out of white's color pie?
My gut is it’s too efficient a card drawer for white. It also doesn’t have the once per turn limitation. Is there a taxing card that could use drawing a card as a tax? Possibly, but it would require other elements and would most likely be narrower than “cast a spell”.
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fistofgaivs · 6 months
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Working on a TTRPG which is a sequel to my free suggestion book "Not F.A.T.A.L. but Serious!" both a tip of the hat to a notorious sh-t lord RPG from earlier (zero connection) and a favorite American but Manga comic. Was hoping I could put up the uncensored version here but it seems Tumblr still has blue noses even though it's almost like reading the best of Penthouse magazine again.
In essence it'll be erotic TTRPG play with no holds or holes barred. We are F-cking adults playing the games now, but the core properties were owned and dominated by dry corporations making "Product" that had to be G-rated. Now the "Woke" rated is far far worse. So not for kids but you can download the original here and working cover for the upcoming full RPG later.
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Serious - click the link (+18), go to the image of the top left and right click "Save as..." PDF document! - I'm privately hosted and NO ADS no SCRIPTS no GARBAGE. Not a full RPG just a book of suggestions that got the woke tourists invading to ruin TTRPGs to scream. That's their agenda, this is mine... I'll play my F*cking games any F*cking way I want them and I want to be able to buy and sell +18 interest.
The rainbow unicorn snowflakes can have Thirsty Sword Lesbians and Zwei-Hander. I'm not holding my gladius to their soy throats with no chins to play MY stuff but I expect something they are incapable of; respect -and that means for someone who has different views than them. If they can't understand that are their snowflake fake sh-t politics worth ANY respect? Jeebuz, I'm quite "Liberal" not a right winger.
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Ai + 3D art by me. She's WAY over 18 like 200+ even in fiction, slime minds...!
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Heads up - like any real Indie TTRPG I'll use AI art but still keep the few artists who'll do commissions for me employed like Max here. He can do hundreds of pretty damsels in distress and ribaldry in the time it'd take him to paint a swamp or dungeon Midjourney can do in seconds so why waste the time and money?
Let WotC ruin D&D for Blackrock EFT social credit - though I advise writing your Congress + Senate reps for the tax $ they'll scream to turn a failure into profit. The best out is to support the REAL indies that do NOT Bend the Knee to woke whine-buckets.
DEMAND from your TTRPG maker and game at least one element the "Woke" will NOT tolerate. I'm not for real sexism or racism and don't care who you voted for. The world has (and always will) 1,000,001 problems... Censoring comic books, video games, movies and pandering to rainbow unicorn snowflakes from some 'safe space' at a debt factory (College) does NOTHING to help anything on that list. Here are some statements free to include for free speakers, free thinkers versus "Woke" whine buckets:
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Oh and speaking of lists...
One of the BEST things on the internet for RPGs "The List".
They just want you to know if your RPG maker is a rainbow unicorn snowflake who cares their woke fake politics vs anything to do with a RPG at all. Agenda vs product. Invaders. Tourists. Most of these people are vile on Twitter and (Zwei-Hander) demand you do NOT play their game unless you agree 100% with them. How in the world their books sit in PILES at major bookstore chains for years no sales but can NOT fail is beyond me - save knowing about 'short-selling' and corporate EFT.
So I advise looking for GREEN on the list, companies that care about their games and players NOT warmed over re-hashed master of the obvious "Woke" sentiment that preaches to its own choir.
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greatwyrmgold · 1 year
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I just want to vent about my dad on a website I know he doesn't use. (He's a Reddit/Facebook man.)
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These are two texts from our D&D group's groupchat. In it, Dad reacts to finding out that WotC hired the literal Pinkertons to intimidate someone who got sold the wrong trading cards by criticizing the guy who the Pinkertons intimidated.
This is typical for my dad. When these tales of corporate misdeeds happen, Dad always defends the corporations. If they are not breaking the law, he takes that as evidence that they're in the right. If they are breaking the law, he tries to downplay the severity of the crime. He's a corporate bootlicker, and I don't think he realizes it.
This bootlicking is a bit ironic, since my dad is a "Don't Tread on Me" libertarian. Well, if you asked he'd say he had disagreements with the Libertarian party, but he's never explained exactly what those disagreements are. Which is actually pretty similar to his relationship with the Republican party; Dad will say he holds Democrats and Republicans in equal disdain, but he's complained long and often about Democrats with their gun control and Obamacare and taxes. By contrast, the worst thing he's said about Donald Trump is that he doesn't protect gun rights.
Now, I don't think Dad actually agrees with the alt-right. He's voiced support for minority rights and stuff, even if it's in a milquetoast "We've basically achieved equality, and also the government shouldn't stop businesses from discriminating because the free market will put them out of business" way. But when he talks about politics, he doesn't complain about conservatives. He complains about liberals.
And he talks about politics a lot. My dad might espouse disinterest in the country's political parties, but he has strong opinions about politics. His political discussions, which he made sure to include me and my brother in, are a big part of why I care about politics as much as I do—and to his credit, he encouraged us to think for ourselves instead of just following his politics. I too was a dumbass libertarian for a while, but when I was presented with new evidence, I could change my mind.
But, well. Having a politically-opinionated dad, while being politically-opinionated in the opposite direction is a bit of a problem. And in case you didn't pick up from the way I described my dad defending WotC and also have not noticed any other political post I've made on this blog, I am firmly opposed to capitalism in general and capitalists fucking over employees (or other individuals who annoy them) in specific. So there's a bit of tension there. And I don't know what to do with it.
So far, I've mostly tried to avoid it. That's successful most of the time, but not all the time. Everything is political; even if my dad wasn't the kind of guy who talks with his kids about the president's health care policy or California gun control, politics would come up sooner or later. The friend in the group chat wasn't trying to be political; he just relayed an interesting news story relevant to the group's shared interests. But corporate malfeasance is a political issue, whether you want it to be or not. Politics are gonna come up.
I guess I could argue with him, point out that WotC's actions are morally bankrupt, no matter how legal they are. Question why making a video about some cards that you bought is grounds for getting goons sent to your house. Hell, maybe I should do that, push back against shitty political ideas. But what would the result of that be? I'd get mad, my dad would get mad, neither of us would change our minds, and it's not like the rest of the group would care.
For now, I guess I'm venting my frustrations on Tumblr. I hope that's a healthy outlet.
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polishtamales · 1 year
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This needs to stop
Have you ever moved on from someone and only to stumble on them 5 years later just to see how low they’ve gotten?
Of course, the bigger person wouldn’t dwell on it and simply move on and walk away; avoiding any eye contact as long as possible, but they start screaming back at you. An old lady cuts you off and you find yourself out in the open, looking from side-to-side as your anxiety gets the best of you. 
You suddenly feel their cold-tipped fingers, covering your eyes, as you let out faint gasp. You drop your drink as the cup bounces off your shoes and onto the ground. Their cheeks gingerly brush against the back of your hair as they gently lean in, whispering into your ears...
...$999*
A lawyer swoops in your other ear...
*Taxes, shipping and handling not included...
While this isn’t how I learned about Magic the Gathering’s 30th anniversary, I was just as disappointed as most of you. Imagine 30 years of summoning Angels, Wizards and Dragons, just to be told that you’re not invited. That is, you absolutely are and you can show everyone around you by spending thousands of dollars on Proxy MTG cards. Never mind that you can’t ever use them in official sanctioned tournaments or you have to ask permission from your EDH group to play those cards among all dirty peasants, but you could, by somewhat reasonable odds, end up collecting a complete set of the legendary Power-9 set in the process! 
Wait, I stand corrected! All this adrenaline pumping through my veins with blood clots and I can’t even get the facts straight. Official Proxy MTG cards that you could’ve bought anytime off of Wish or a non-reputable online seller, but they’re blessed by Mark Rosewater himself! Hot off the presses from the dozens other card sets released this year, these are special and deserve to be celebrated, because Wizards of the Coast told you so! You don’t have to take my word for it, as many speculators and scalpers have their bots ready for the big celebration! They’re all wet and throbbing, just like the investors waiting for Q4 earnings from Hasbro.
Sadly, deep down, we all know this product wasn’t meant for us. It isn’t even meant for the local game store that helped sell and promote Magic The Gathering for 30 long years. They get measly table scraps for their troubles, as Papa Bezos undercuts everyone, even daring to sell products at a reasonable loss. The audacity of these “brick and mortar” stores, trying to pay rent by selling collector boxes for just $180; when Amazon can hook you up for $80! You’d be a stupid fuck not to buy these by the pallets!
If you can’t tell already, my optimism towards Magic is at an all time low. Worst than my first pack of Fallen Empires. Hell, even worst when Wizards of the Coast tried to cancel Rebecca Guay! 
As cliché it is to call for a boycott, it’s not as easy as it sounds. You have crypto bros, speculators, scalpers, and their bots; all trying to “invest” on WotC’s version of a NFT. It could be WotC’s biggest cash cow of all time, or a colossal failure, like their reserve list policy. 
I hope you guys can share the image I posted earlier and tell EVERYONE how you will be celebrating Magic’s 30th Anniversary (with the provided blank image)!
Will it be sweet wine by candle light or Lunchables over a kitchen sink? 
Later!
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adelitawilliam · 2 days
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Payroll and Tax Season: Tips for Smooth Navigation
Tax season can be a daunting time for small business owners, especially when it comes to managing payroll. With numerous regulations, deadlines, and potential pitfalls, it's essential to have a solid plan in place to navigate this period smoothly. Here are some practical tips to help you tackle payroll and taxes with confidence during tax season:
1. Stay Organized: Start by organizing all relevant payroll documents, including employee records, tax forms, and financial statements. Create a dedicated folder or digital file for easy access throughout the tax season.
2. Understand Tax Deadlines: Familiarize yourself with key tax deadlines, including deadlines for filing payroll tax returns, issuing W-2 and 1099 forms, and making quarterly estimated tax payments. Missing deadlines can result in penalties and fines, so mark these dates on your calendar and set reminders to ensure compliance.
3. Keep Accurate Records: Maintaining accurate payroll records is crucial for tax compliance. Keep detailed records of employee wages, hours worked, tax withholdings, and any other relevant information. This will help streamline the tax preparation process and minimize errors.
4. Review Employee Classification: Ensure that your workers are properly classified as employees or independent contractors for tax purposes. Misclassifying workers can lead to costly penalties and legal issues, so review classification criteria carefully and seek professional guidance if needed.
5. Calculate Taxes Correctly: Accurately calculating payroll taxes is essential to avoid underpayment or overpayment. Use reliable payroll software or consult with a tax professional to calculate federal, state, and local taxes, as well as Social Security and Medicare contributions, based on current rates and regulations.
6. Monitor Changes in Tax Laws: Tax laws and regulations are subject to change, so stay informed about any updates that may impact your payroll taxes. Subscribe to reliable tax news sources, consult with a tax advisor, and attend relevant seminars or webinars to stay up-to-date on changes that may affect your business.
7. Utilize Tax Credits and Deductions: Take advantage of available tax credits and deductions to reduce your tax liability. Research tax credits for small businesses, such as the Work Opportunity Tax Credit (WOTC) or the Employee Retention Credit (ERC), and explore deductions for business expenses, retirement contributions, and healthcare costs.
8. Implement a Payroll Compliance Checklist: Create a payroll compliance checklist to ensure that you're meeting all legal requirements and avoiding common pitfalls. Include tasks such as verifying employee information, reconciling payroll records, and filing tax forms accurately and on time.
9. Prepare for Audits: Be proactive in preparing for potential tax audits by maintaining thorough and accurate records, documenting any tax-related transactions or decisions, and responding promptly to any inquiries from tax authorities. Consider seeking assistance from a tax professional to navigate the audit process effectively.
10. Seek Professional Guidance: If you're unsure about any aspect of payroll and tax compliance, don't hesitate to seek professional guidance. Experts offering services of payroll for small businesses in Oklahoma City OK can provide valuable expertise and assistance tailored to your business's specific needs.
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uhlenbrockcpa · 8 days
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"Top Tax Planning Strategies for Small Business Owners"
Selecting the Correct Company Structure: Selecting an LLC, S-corporation, partnership, sole proprietorship, or other type of company can have a big tax impact. Because every structure has a unique tax treatment, it's critical to take into account aspects like liability protection, administrative simplicity, and tax benefits.
Maximize Deductions: Make the most of all the available deductions, especially those for business expenses like utilities, travel, office supplies, and equipment. To maximize tax savings and support deductions, maintain thorough records and receipts.
Retirement Plans: Business owners can invest for the future and receive tax benefits by contributing to retirement plans such as 401(k)s, SIMPLE IRAs, and SEP-IRAs. Usually tax deductible, contributions to these schemes can reduce one's taxable income.
Income Deferral: Tax obligations can be managed by carefully timing the recognition and spending of income. To lower taxable income in the current year, think about delaying revenue to the next year or accelerating deductible costs.
Tax Credits: Examine the tax credits that are available to small businesses, including the Small Business Health Care Tax Credit, the Work Opportunity Tax Credit (WOTC), and the Research and Development (R&D) tax credit. If qualifying conditions are satisfied, these credits can drastically lower tax obligations.
Asset: Utilize asset depreciation to your advantage by deducting costs associated with property, automobiles, and other business assets. Reduce taxable income and expedite deductions by utilizing strategies such as Section 179 expensing or bonus depreciation.
Tax Planning Throughout the Year: Tax planning should be a year-round endeavor, not just a once-a-year task. Regularly review financial statements, monitor changes in tax laws, and consult with tax professionals to adapt strategies as needed.
By implementing these tax planning strategies, small business owners can effectively manage their finances, minimize tax burdens, and maximize profitability. Consulting with tax professionals or financial advisors can provide personalized guidance tailored to specific business needs and goals.
Uhlenbrock CPA is among the leading companies in the region, and they are certified tax planners in San Antonio. They offer a wide range of services such as tax services, business services, and more. If you need assistance with financial tasks and effective solutions for your businesses, Uhlenbrock is there to help you out.
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How To Make Your Small Business Tax-Efficient?
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Making your small business tax-efficient involves strategic planning and proactive decision-making to minimize tax liabilities while maximizing available deductions, credits, and incentives. By implementing effective tax-saving strategies, small businesses can preserve cash flow, increase profitability, and maintain compliance with relevant tax laws and regulations. 
In this article, we'll discuss several key strategies to make your small business tax-efficient.
Choose the Right Business Structure: The choice of business entity has significant tax implications for small businesses. Consider whether operating as a sole proprietorship, partnership, corporation, or limited liability company (LLC) is most advantageous for your tax situation. Each entity type is subject to different tax rules, rates, and compliance requirements. Consult with a tax advisor to determine the most tax-efficient structure for your business.
Maximize Deductions and Credits: Take advantage of all available deductions and credits to minimize taxable income and lower your tax bill. Common deductions for small businesses include expenses such as rent, utilities, supplies, advertising, and employee wages. Additionally, explore tax credits for which your business may be eligible, such as the research and development (R&D) tax credit, the work opportunity tax credit (WOTC), and energy efficiency incentives.
Keep Accurate Records: Maintaining accurate financial records is essential for claiming deductions, credits, and other tax benefits. Keep detailed records of all business income, expenses, receipts, invoices, and other financial transactions. Use accounting software or hire a professional bookkeeper to ensure your records are organized and up to date. Accurate recordkeeping not only simplifies tax preparation but also helps you identify opportunities for tax savings.
Track Business Expenses: Deductible business expenses can significantly reduce your taxable income. Keep track of all business-related expenses throughout the year, including office supplies, equipment purchases, travel expenses, professional fees, and vehicle expenses. Use separate business accounts and credit cards to distinguish between personal and business expenses, making it easier to identify deductible items at tax time.
Plan for Depreciation: Depreciation allows businesses to deduct the cost of certain assets over time. Take advantage of accelerated depreciation methods, such as bonus depreciation and Section 179 expensing, to maximize tax deductions for capital investments. Properly managing depreciation schedules can help you recover the cost of assets more quickly and reduce taxable income in the process.
Consider Retirement Plans: Retirement plans offer tax benefits for both business owners and employees. Explore options such as SEP-IRAs, SIMPLE IRAs, and 401(k) plans to save for retirement while reducing taxable income. Contributions to these retirement plans are typically tax-deductible for the business and tax-deferred for employees, making them valuable tax-efficient savings vehicles.
Understand Pass-Through Deductions: If your business operates as a pass-through entity, such as a sole proprietorship, partnership, or S corporation, you may be eligible for the qualified business income (QBI) deduction. This deduction allows eligible businesses to deduct up to 20% of qualified business income from their taxable income. Review the eligibility criteria and limitations of the QBI deduction to maximize tax savings for your business.
Stay Informed About Tax Changes: Tax laws and regulations are subject to change, so staying informed about updates and developments is crucial for small business owners. Keep up to date with changes in tax rates, deductions, credits, and compliance requirements that may affect your business. Consult with a tax advisor or accountant to understand how these changes impact your tax planning strategies and adjust accordingly.
Invest in Tax Planning: Investing in professional tax planning can yield significant long-term benefits for your small business. Work with a qualified tax advisor or accountant to develop a comprehensive tax strategy tailored to your specific circumstances. A tax professional can help you identify opportunities for tax savings, navigate complex tax laws, and ensure compliance with regulations while minimizing tax liabilities.
Explore Tax Deferral and Timing Strategies: Consider deferring income or accelerating deductible expenses to optimize your tax position. For example, delay invoicing clients or accelerate payments to vendors at year-end to shift income and deductions between tax years. By strategically timing your financial transactions, you can minimize current tax liabilities and maximize tax savings over time.
In conclusion, making your small business tax-efficient requires careful planning, diligent recordkeeping, and proactive tax-saving strategies. By choosing the right business structure, maximizing deductions and credits, keeping accurate records, and staying informed about tax changes, you can minimize tax liabilities and maximize tax savings for your small business.
Collaboration with a qualified tax professional offering services of tax planning for business owners in Mayfield Heights OH is essential to develop and implement a tax strategy that aligns with your business goals and objectives.
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gusty-wind · 1 month
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larrygpotter · 1 month
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Utilizing W.O.T.C. for Business Success: GMG.me/143862
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verticalmomentum1 · 2 months
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Why YOUR Company Should Prioritize Hiring Military Veterans 🎖️:
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The skills and dedication they bring can significantly enhance a company's performance and culture 🌟.
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customaccountingcpa · 2 months
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Boost Your Bottom Line: Exploring Tax Reduction Packages for Small Businesses
As a small business owner, navigating the intricate landscape of taxes can be daunting. However, the prospect of reducing your tax burden and increasing your bottom line is undoubtedly appealing. To achieve this goal, consider exploring tax reduction packages tailored for small businesses. These packages offer targeted strategies to optimize your financial position. Here are key components of effective tax reduction packages:
Depreciation and Expensing: Take advantage of tax laws that allow you to depreciate the cost of business assets over time. Additionally, consider expensing assets through Section 179, which permits immediate deductions for qualifying equipment and property purchases.
Tax Credits: Investigate available tax credits for small businesses. This may include credits for research and development, hiring certain types of employees, or providing access to disabled individuals.
Employee Benefits: Implementing tax-advantaged employee benefit programs can benefit both your business and your team. Health savings accounts (HSAs), flexible spending accounts (FSAs), and retirement plans can offer tax advantages for both employers and employees.
Work Opportunity Tax Credit (WOTC): If your business hires individuals from specific target groups facing barriers to employment, you may qualify for the WOTC. This credit encourages employers to hire individuals who may have difficulty finding work.
Energy-Efficient Upgrades: Explore tax incentives for making energy-efficient improvements to your business premises. Many governments offer tax breaks for investments in renewable energy, energy-efficient lighting, HVAC systems, and more.
Research and Development (R&D) Tax Credit: Encourage innovation within your business and potentially qualify for R&D tax credits. This credit is designed to reward businesses that invest in research to develop new products or improve existing ones.
State and Local Incentives: Don't overlook potential tax reduction opportunities at the state and local levels. Many regions offer specific incentives, grants, or tax breaks to encourage business growth and investment.
Consult a Tax Professional: Engaging with a tax professional or accountant who specializes in small business taxation is crucial. They can help you navigate the complex tax landscape, identify eligible deductions, and ensure compliance with changing tax laws.
By actively exploring and implementing these components of tax reduction packages, small business owners can strategically minimize their tax liability. This, in turn, frees up resources that can be reinvested in the business, fostering growth and sustainability. Remember, staying informed and seeking professional advice are essential steps in maximizing the benefits of tax reduction packages for your small business.
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pasfirm · 3 months
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Understanding Payroll Taxes
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Payroll taxes are a critical aspect of managing finances for businesses in Miami and throughout Florida. Whether you're a small business owner or part of a larger corporation, comprehending payroll taxes is essential to ensure compliance and accurate financial management. In this comprehensive guide, we'll delve into the intricacies of payroll taxes and how partnering with top accounting firms in Florida, offering services such as accountant in Miami, bookkeeping in Miami, and catch-up accounting in Miami, can help you navigate this complex financial landscape.
1. What Are Payroll Taxes?
Payroll taxes are the taxes deducted from employees' paychecks by their employers. These taxes fund various government programs and benefits, including Social Security, Medicare, and unemployment insurance.
2. Types of Payroll Taxes
There are several types of payroll taxes, including:
Federal Income Tax Withholding
Social Security Tax
Medicare Tax
Federal Unemployment Tax (FUTA)
State Income Tax (varies by state)
State Unemployment Tax (SUTA) (varies by state)
3. Employer Responsibilities
Employers have several responsibilities related to payroll taxes, including withholding the correct amount of taxes from employees' wages, matching Social Security and Medicare contributions, and reporting and remitting payroll taxes to the appropriate government agencies.
4. Employee Responsibilities
Employees must provide accurate information on their Form W-4 to determine the correct amount of federal income tax to withhold. They are also responsible for ensuring that their Social Security and Medicare taxes are accurately deducted.
5. Reporting and Filing
Employers must accurately report and file payroll tax returns with federal and state authorities. This includes Form 941 for federal taxes and state-specific forms for state taxes.
6. Compliance and Penalties
Ensuring compliance with payroll tax regulations is crucial. Non-compliance can lead to penalties and fines. Top accounting firms in Florida can help businesses stay compliant and avoid costly mistakes.
7. Tax Planning
Effective tax planning can help businesses minimize their payroll tax liabilities while adhering to tax laws. Accountants in Miami can offer expert guidance in this area.
8. Recordkeeping
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zoydraft · 6 months
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Lowering Comprehension Complexity, and Going a Step Further
"[Comprehension complexity] has to do with understanding what a card does. Put simply, can you comprehend the function of the card once you've read it? What does it do?"
- Mark Rosewater, Lenticular Design (2014)
Comprehension complexity of individual cards is important to consider when designing an approachable MtG Cube.
Thankfully, it's also relatively easy to manage on a card-by-card basis if you keep it at front of mind. In the context of Limited, WotC does this mainly through rarity, but most cube designers need to think a little bit differently.
I'm not saying minimize. Complexity is a tool to entice players. It's a tool to create interesting gameplay. We just need to remember that complexity has a cost, and the more we add the more taxing and less welcoming the list will be for new players.
I will skip over situations where reading the card doesn't explain the card. This includes non-evergreen (or at least deciduous) keywords without reminder text, double-faced cards, and mechanics like Monarch, Initiative, and the Ring Tempts You. Unless those are major themes of your list they're going to be completely alienating.
I suggest evaluating cards with the following mindset:
You're a person who knows how to play magic but does not know the cards. Can you look at 15 cards and understand what they do in the 2 minutes or so that you might have a pack in your hands?
You could try timing yourself literally reading the cards. I've never done that, but you could. I think just applying the framing probably provides most of the benefit.
I'm going to talk through one swap I made based on this framework where the unfriendliness was not immediately obvious, because of the cleverness of lenticular design.
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Oblivion Ring has an exploit. If you bounce it with the ETB still on the stack, then the LTB resolves first, and you've just permanently exiled your target and can re-use your Oblivion Ring.
You probably know that. You probably didn't figure it out on your own. If you did figure it out, it probably wasn't mid-draft.
In the context of quickly evaluating a pack, Oblivion Ring reads the same as Banishing Light, unless you are already aware of that specific play, or one analogous to it.
Depending on your design goals, Oblivion Ring may be desirable. My criticism of it for accessible environments is that its subtle comprehension complexity provides an edge based on knowledge. There's a discussion to be had about the role of variance in accessible design, but that is generally about how skill-intensive gameplay is. It's important to differentiate skill from knowledge. There's overlap, but Oblivion Ring favours players who know a specific thing that's probably not a result of their skill or cleverness, but how enfranchised they are. That gap arises because of very subtle comprehension complexity.
For playgroups where the knowledge level isn't homogeneous, I believe Banishing Light creates a much better experience for the majority of players. Getting blown out is probably the least fun way to learn the O-Ring trick.
Since I started this post @ChillMtG posted a great 5 minute video on Comprehension complexity that I recommend checking out. If I knew he had it in the wings I probably would've picked a different topic, but c'est la vie.
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