CPA Practice

JANUARY 18, 2024

[Your credentials] with [#] years of experience helping individuals and small businesses with tax filings and compliance. Saving [your niche] money one tax write-off at a time! Accepting new tax preparation clients for the 2024 filing season. What type of services do you offer? Say Goodbye to Tax Stress!

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Withum

SEPTEMBER 1, 2023

The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period. Affected individuals and businesses therefore will have until February 15, 2024 to file tax returns and to pay any taxes that were originally due during the postponement period.

Tax 98

Tax tax return Florida payroll 98

Withum

NOVEMBER 29, 2023

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Federal income tax or information return reporting more than $5 million in U.S.-source Treasury Department. 5 & FAQ J.1. 1 & FAQ F.4.

Legal 115

Legal Non-Profits income tax Tax 115

Withum

MARCH 27, 2024

Even though the House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 , including the reinstitution of immediate expensing for domestic research expenditures, in a staggering bipartisan vote of 357 to 70, it still remains unclear if the Senate can pass this crucial legislation.

Finance 59

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Withum

NOVEMBER 29, 2023

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Federal income tax or information return reporting more than $5 million in U.S.-source Treasury Department. 5 & FAQ J.1. 1 & FAQ F.4.

Legal 91

Legal Non-Profits income tax Tax 91

Withum

JANUARY 8, 2024

Based on the interim definition, governmental contract research facilities were required to capitalize their contract R&E expenditures, generate taxable income, and make required federal cash tax payments. This article was originally published by Lynn Mucenski Keck in Forbes on January 2, 2024.

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Withum

AUGUST 7, 2023

What Is the Federal Income Tax Credit for a Charging Station Utilized in a Trade or Business? Assume the charging stations meet all the requirements to be deemed qualifying charging stations for the federal income tax credits. How Do I Claim a Qualified Charging Station Federal Income Tax Credit?

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income tax Construction Non-Profits Transportation 52

TaxConnex

JULY 12, 2022

The bill also extends the sunset date of the sales tax exemption for the purchase of high-technology data center equipment to Dec. Illinois requires retailers to notify customers of the suspension of the state 1% rate of sales and use tax on retail sales of groceries, effective July 1 through June 30, 2023.

Sales 177

Sales Tax Oklahoma Illinois 177

Withum

AUGUST 24, 2023

The applicable percentages are based on the year of construction and are as follows:   In the case of construction that begins before January 1, 2023, 10 percent;   In the case of construction that begins after December 31, 2022, and before January 1, 2024, 12.5 How Do I Claim a Federal Energy Project Income Tax Credit?

Tax 52

Tax Construction income tax Non-Profits 52

Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

income tax 97

income tax Tax accounting standards financial statements 97

Withum

DECEMBER 23, 2023

Congressional leaders went home this week for winter recess so there is no way for a tax extender bill to be passed in 2023, but there remains a glimmer of hope for action in early 2024. Under the new requirement, companies that assist in federal research are now having to pay federal income tax on any federal research grants received.

Pharmaceutical 52

Pharmaceutical accounting and finance Tax income tax 52

Withum

OCTOBER 12, 2022

AFSI is defined as the net income or loss of the taxpayer set forth on the taxpayer’s applicable financial statement for such taxable year, with up to 15 adjustments as provided in new Section 56A. The first tax year for which the new CAMT tax is due is the calendar year beginning January 1, 2023, for which returns will be due in 2024.

financial statements 69

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Accounting Insight

APRIL 21, 2023

As a result, changes will be made to the Self Assessment tax return forms for the 2024-25 tax year, requiring separate identification of amounts related to crypto assets. Recently, there has been a growing emphasis on digitalisation and modernisation of tax services.

Account 59

Account accountant accounted Technology 59

Withum

FEBRUARY 21, 2024

The new beneficial ownership reporting under the Corporate Transparency Act was signed into law on January 1, 2021 and took effect on January 1, 2024. Beneficial ownership information (BOI) must be reported for the reporting entity’s beneficial owners and for entities formed or registered in 2024 or later – company applicants.

income tax 125

income tax tax return Tax accounting and finance 125

CPA Practice

MARCH 8, 2023

Corporate Alternative Minimum Tax is Back Congress originally introduced the corporate AMT in 1986 to prevent large companies from using tax exemptions to avoid paying income taxes, despite high earnings. Companies can currently write off 100% of qualified equipment costs in the year it placed its service.

income tax 111

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Withum

AUGUST 7, 2023

If a taxpayer purchases a new clean vehicle, the maximum federal income tax credit for personal clean vehicle energy purchases is $7,500 once provided the critical mineral and battery component requirements are met. Are There State Income Tax Incentives for the Purchase of a Clean Vehicle?

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xendoo

JANUARY 16, 2023

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

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Anders CPA

AUGUST 22, 2023

This law provides an income tax credit for taxpayers who hire an intern or apprentice who is paid at or beyond the minimum wage. Anders State and Local Tax advisors keeps a close eye on evolving legislation around tax credits and incentives. Genesis Clay, tax intern, contributed to this article.

Missouri 52

Missouri Tax income tax CPA 52

xendoo

JANUARY 26, 2023

The Internal Revenue Service (IRS) can send you a bill for penalties and additional fees. However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. When you run a business, it’s easy to fall behind on your books and taxes.

Tax 52

Tax tax return Non-Profits Legal 52

Going Concern

FEBRUARY 16, 2024

Apparently the local news has had this amateur CPA on their radar since at least 2020: Krystal clear – customer says shady businesswoman an “expert at frauding people” [ FOX 2 Detroit ] Krystal friended Chrissy on Facebook and said her company “Card Virtual Tax Service” could get her a big refund and take a percentage.

Real Estate 103

Real Estate Iowa audit CPA 103

Withum

JULY 26, 2023

The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments. trillion in 2033.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Alternatively, auto dealers can decrease their federal income tax payments based on the transferred credits. Transfer of Clean Vehicle Credit to a Dealer. Contact Us.

Tax 124

Tax income tax Manufacturing tax return 124

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Alternatively, auto dealers can decrease their federal income tax payments based on the transferred credits. Transfer of Clean Vehicle Credit to a Dealer. Contact Us.

Tax 52

Tax income tax Manufacturing tax return 52

Going Concern

JANUARY 5, 2024

And take our 2024 Predictions for the Accounting Profession survey ! Imagine the dirty looks PwC partners get from the other Big 4 partners at the country club now [link] — Going Concern (@going_concern) January 4, 2024 Office Space Armada Hoffler Finalizes Lease with KPMG LLP at Town Center of Virginia Beach [ Yahoo!

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Withum

FEBRUARY 8, 2023

The first proposal is a four-fold increase (from 1% to 4%) in the corporate stock buyback tax that was enacted last year as part of the Inflation Reduction Act. That tax applies to stock buybacks as of January 1, 2023. Let’s Chat The post Tax Proposals in the State of the Union Address appeared first on Withum.

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