Services Offered by Ed Lloyd CPA
A great way of having your business and company running smoothly is by appointing the best measures to have your taxes sorted. Having your taxes paid at the right time can prove to be highly beneficial for the business and also keep you stress-free. There are a number of things that you need to consider when paying taxes. These factors may eventually increase or decrease the amount of taxes you are paying. These uncertainties may not always prove beneficial for the company and it is due to this reason that you need to opt for the different tax services provided by Ed Lloyd & Associates PLLC.
Direct Tax Services
There are a number of problems that may surface with the calculation and also the paying of direct taxes. With the help of the expert and experienced services put forward by the associates of Ed Lloyd CPA, one can get over, all these problems with much ease. Some of these services include- helping you stay knowledgeable of all the latest federal tax regulations, tax compliance services, corporate tax advisory services, and a lot more. Meeting with all these requirements of a company makes Ed Lloyd & Associates PLLC one of the best tax service providers in the market.
Indirect Tax Services
The indirect taxes are a prominent part of the working of any company. The numerous indirect tax professionals working with Edward Lloyd, provide superior assistance and comprehensive advice in the matter of different indirect services. Some of these indirect taxes include- Excise, Property tax etc.
Tax Controversy and Resolution of Dispute Services
As mentioned earlier, there may be a number of disputes, difficulties and controversies that may crop up with the calculation and the payment of taxes. It is the job of the experts like Ed Lloyd CPA to come up with solutions to this trouble. Some of the ways appointed by them to solve these issues include- revision of the book of accounts, going through the statements, revising the tax payments to be made, etc.
To know more about business services to take advantage of, read -The different Business Services of Ed Lloyd & Associates PLLC
ED LLOYD & ASSOCIATES PLLC LETS YOU KNOW WHY YOU NEED AN EXPERT FOR TAXES
ED LLOYD & ASSOCIATES PLLC – ARE YOU FINANCIALLY AND LEGALLY UPDATED ABOUT YOUR CHILDREN?
Who doesn’t want to save on taxes? We all want that little plan that helps us avoid the taxes altogether. It’s not easy to save them every time but certain tax-saving tips can help you avoid paying unnecessarily.
With years of experience in tax planning, experts at Ed Lloyd & Associates share some tips:
Do You Qualify For Earned Income Tax Credit?
This is a mistake much makes. Sometimes you don’t even know if you come under the tax slab so it’s most important to find that out before you take any steps. Ed Lloyd & Associates PLLC explains, earned income tax credit that applies to moderate and low-income taxpayers can offer credit till about $6,000. Experts often assert that anyone who earns less than $50,000 should ask their accountants if this credit applies to them. There are many times when you do not even qualify for this and don’t realize it they so lose out on the benefit.
Become An Entrepreneur
When you become a businessman, you have more control over your taxes. Ed Lloyd CPA points out that you have the liberty to keep money in your company’s account instead of taking earning it as income. And then you can easy put certain costs under expenses. Even more, accounting experts can easily help businesses to navigate through the norms on taxes that keep changing and guide you on how to avoid certain taxes. You have more options of keeping your money as savings and don’t have to worry about paying tax on everything earned. Since it’s your own business things can be altered to get you the best saving plan.
College Saving Plans
There are very few parents who create 529 college savings accounts for their kids. So, basically, you miss out the tax benefits. Parents don’t have to pay taxes on earnings so long as you have tuition to pay for.
Get your best saving plan today and walk into a profitable future.
Need advice on post-retirement taxes? Have you planned it yet? If not, get some tips here – Understand What 401 (k) Has In Store For You With Ed Lloyd & Associates PLLC
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ED LLOYD, BACK TO SCHOOL TAX TIME
With the world becoming a global village, people are constantly on the move, looking for opportunities to work overseas. For US citizens who live abroad, taxes can be quite a hassle and is definitely an inescapable liability. However, there are many provisions that you can use if you are living abroad. Some tips can help you make those tax decisions easily.
Ed Lloyd & Associates, PLLC shares insights on the subject.
What are Tax Breaks on Foreign Income?
It all depends on how much money you make. You can exclude housing expenses and all your income from taxation in the United States if you meet the guidelines as specified by the Foreign Earned Income Exclusion. The money you earn while working overseas can be deducted from your income that is taxable. This is applicable only up to certain limits after you have been a resident of that country for a specific period. So when you pay taxes to another country, claim Foreign Tax credit. To avoid any kind of mistakes here, make sure you review your return carefully. And do not exclude more income than you are reporting.
Find out about the Medicare Taxes
There are many countries that the United States has agreements with to eliminate taxes on dual Social Security. Find out which these are. These are called totalization agreements. They should be taken into account to make sure you know what you are paying for. These are meant to secure your retirement benefits in case you are torn working between two countries.
What to do in case of Self-Employment?
If you are working independently, you are not required to pay any self-employment taxes to the U.S. government (if only you work with a country sharing a totalization agreement with U.S.). You usually have to apply to Schedule C business income.
At all points, you have to be extremely careful about the paperwork that goes into filing taxes and Ed Lloyd & Associates, PLLC suggests it’s best to hire a full-time professional for this.
To know more about why it may be good to outsource the accounting services, read – Ed Lloyd Associates PLLC tells you why it is important to outsource accounting services
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