SandMartin Blogs
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26 Jul 2022Who all will be impacted? – Employees – Self-employed people who have a National Insurance Contributions (NICs) liability. – Employers Impacted Areas: Earlier National Insurance contributions for working-age employees, self-employed people, and employers was increased by 1.25% and most employees were paying 12% in 2021-22 are paying now 13.25% in 2022-23 applicable from 6th April 2022. Employer contribution has risen …
Continue reading “HMRC new guidelines on National Insurance Changes”
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21 Jul 2022For individual taxpayers, Schedule A (Itemized deduction) is used in conjunction with Form 1040 to report itemized deductions. If you choose to claim itemized deductions instead of the standard deduction, you would use Schedule A to list your deductions. Your itemized total is then subtracted from your taxable income. 1040 Schedule A is an optional attachment …
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28 Jun 2022The tax code is convoluted and the IRS has been making it more complicated with the new Tax Cuts and Jobs Act. If you are confused about how to calculate Net operating Losses on your 2021 1120 return, then you aren’t alone. It’s complicated enough to make most tax professionals run for cover. If you’re …
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25 Aug 2021It is rightly said that Employees are the biggest assets for any organization, which highlights how important the Payroll Function is for an organization. Although, Payroll is a very time-consuming and cumbersome service, yet some companies opt to do it by themselves. However, is it actually worth the effort? Can economies of scale be achieved …
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01 Jul 2021
Outsourcing is a hot-button issue among all solution providers. Many of their offerings take on responsibilities of their clients, allowing those companies to focus on their core competencies as they have to more closely monitor their pocketbooks. Here now are some ways you may not have thought of how to recession-proof your reselling business, As a Best TPA …
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01 Dec 2020Yes, you read that right – tax season is around the corner yet again. The 2020 tax season was one for the record books, with changing deadlines (7/15), rules (ex: CARES Act), and more brought on by the COVID-19 pandemic. 2021 will have its own complexities and challenges. It’s always the busiest time of year …
Continue reading “How US CPAs can Prepare for the 2021 Tax Season”
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19 Nov 2020Tax return season in the UK is mostly the nerve-racking one for the Accounting firms. 2020 has added additional havoc with the extension of nationwide lockdown and economic hardships due to COVID-19. Due to political and other reasons tax authorities are under pressure, have tightened enforcement and penalty policies. Ever changing and increasingly complicated tax …
Continue reading “UK Tax Season 2021: Why Outsourcing is the Key”
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03 Nov 2020COVID-19 is reshaping economies and societies, abruptly forcing many of us to rethink the way we live and work. This includes Benefit Administrators, who must continue to adjudicate medical, disability etc. claims in a fair and consistent manner amid the pandemic. Learn How Third-Party Administrators can Sail Through the Upcoming 2021 Claims Administration Season. Yet …
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29 Oct 2020The Coronavirus pandemic has brought unprecedented challenges to numerous Third Party Administrators across the globe. The open enrolment season is all set to take off from November 01 for 2020 health insurance coverage. Being overloaded with multiple tasks, the TPA firms are facing a shortage of talent for seasonal jobs like open enrollment. On an …
Continue reading “Give a head start to the Open Enrollment Season 2020”
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26 Oct 2020It is no wonder why many accounting practices across the UK get exhausted, considering that they are bogged down with petty tasks, such as bookkeeping, taxation and payroll, which are time-consuming and not much profitable. In order to survive the fierce competition and to stay on top of it, accountancy practices do not only have …
Continue reading “Charity Accounting Services for Accountancy Practices in the UK”