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Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII) are two pivotal components of the U.S. international tax system introduced under the Tax Cuts and Jobs Act (TCJA) of 2017. Designed to reduce the incentive for U.S. multinationals to...

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The U.S. corporate tax landscape is evolving rapidly, and one of the most notable developments in recent years is the introduction of a federal minimum corporate tax. With continued concerns about large corporations avoiding taxes despite high reported profits, policymakers...

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As a CPA firm, the demands of tax season and year-round accounting can overwhelm your internal resources. You need to ensure accuracy, compliance, and efficiency, but hiring additional staff may not always be feasible or cost-effective. That’s where outsourcing comes...

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Outsourcing tax preparation services has become increasingly popular among U.S. CPAs looking to improve efficiency and reduce operational costs. When it comes to outsourcing 1040 tax returns, many questions arise regarding the process, benefits, and potential risks. In this detailed...

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When it comes to filing taxes for your business, understanding which form to use is essential. Two of the most commonly used forms for corporations are Form 1120 and Form 1120S. While both forms are used to report income, deductions,...

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When starting or running a small business, choosing the right business structure is one of the most crucial decisions you'll make. Among the many tax forms and structures available, two of the most commonly used for small businesses are Form...

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When you’re self-employed, determining the right tax form to file can be a challenging decision. Among the most common forms are Form 1040 and Form 1065, but which one should you use? The answer depends on the structure of your...

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Your filing status is one of the most important factors in determining your tax liability. Whether you’re filing as single, married, or head of household, your filing status can affect your tax rates, available deductions, and eligibility for tax credits....

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Understanding the appropriate filing frequency for sales tax returns is crucial for businesses to remain compliant with state tax laws and avoid penalties. Sales tax filing frequencies can vary based on factors like the size of your business, the amount...

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For corporations that operate in multiple states, filing taxes becomes significantly more complex. Not only do these businesses need to comply with federal tax laws, but they also must adhere to state-specific tax requirements. The IRS Form 1120, "U.S. Corporation...

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