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CLG Professional Services is a professional tax, accounting, and financial services firm with offices in Dallas and Allen Texas. Their clients span the income spectrum and are predominately individuals & small business owners who each possess their own set of unique tax and financial needs.

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What does your abbreviation mean clg?

In banking terminology it means 'Clearing'


What is the meaning of clg in an ATM transaction receipt?

Clearing Chq.


What does CLG mean in accounts?

In accounting, "CLG" typically stands for "clearing." It refers to the process of reconciling or settling transactions, such as clearing accounts where temporary balances are adjusted to reflect accurate financial positions. Clearing accounts help ensure that all financial transactions are accounted for and accurately reported in the financial statements.


What is meant to cts clg in bank statement?

"CTS CLG" in a bank statement refers to "Cheque Truncation System Clearing." It indicates that a cheque has been processed through the CTS, which is a method used to electronically clear cheques rather than physically moving them. This system enhances the efficiency and speed of cheque clearing, allowing funds to be transferred more quickly between banks. If you see this notation, it typically means that a cheque you issued has been successfully cleared.


Do you need to send a 1099 to a PC?

Yes, you typically need to send a 1099 form to a Professional Corporation (PC) if you paid the corporation $600 or more for services during the tax year. However, payments made to corporations for services are generally exempt from 1099 reporting, except in specific cases, such as legal services. It's essential to consult IRS guidelines or a tax professional to ensure compliance with reporting requirements.

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