Snyder

OCTOBER 30, 2022

Taxes add a big chunk to this plate. Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? How much do small businesses pay in taxes?

tax preparation 98

tax preparation E-commerce Tax income tax 98

Withum

JUNE 22, 2023

Did you know that the application deadline for the NH R&D Tax Credit is fast approaching? Read below for the highlights of the R&D Tax Credit program and application due date. Principal features of the New Hampshire Tax Credit are: The credit is awarded by the New Hampshire Department of Revenue Administration.

New Hampshire 78

New Hampshire Tax Manufacturing tax return 78

CPA Practice

APRIL 28, 2024

The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week. Tax topics during the week will include: Monday, April 29. Small business owners must implement data protection safeguards and always be on the lookout for tax-related scams.

tax return 132

tax return income tax Tax business tax 132

ThomsonReuters

DECEMBER 19, 2023

Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? To encourage this shift, the IRS offers a range of renewable energy tax credits for alternative energy sources like solar, wind, and geothermal power.

Tax 110

Tax accounting and finance Manufacturing income tax 110

Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. The IIJA lowered this threshold to 20%.

Tax 121

Tax Manufacturing tax return tax services 121

ThomsonReuters

DECEMBER 19, 2023

Jump to: What environmental tax breaks are available? Helping your clients with claiming environmental tax credits As sustainability initiatives gain momentum, the IRS continues to encourage environmentally conscious actions through a range of tax incentives. What environmental tax breaks are available? 

Tax 52

Tax income tax tax return Manufacturing 52

ThomsonReuters

AUGUST 25, 2023

How is software depreciated for tax purposes? Internal use vs. external use software Solutions for managing software depreciation for taxes In today’s tech-driven environment, companies need software to efficiently run their business, whether it is software they purchase from an outside source or develop internally.

Tax 97

Tax Technology Manufacturing payroll 97

CPA Practice

JUNE 14, 2023

The IRS and the Treasury Department proposed guidance on Wednesday for companies that elect to receive a direct payment in lieu of the tax credit for the manufacturing of semiconductor chips in the U.S. The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.

Tax 52

Tax Manufacturing income tax tax return 52

CPA Practice

MAY 7, 2023

Thinking that only dispensaries have to worry about taxes to their cannabusiness? Entrepreneurs, processors, and cultivators in the cannabis industry may be subject to taxation, and it’s important for them to understand the complexities around their tax implications. Do they have to pay tax on all gross revenue? Think again.

Tax 111

Tax income tax CPA audit 111

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are green taxes? How are environmental taxes calculated? Current ESG tax credits and initiatives What are the benefits of an ESG tax strategy? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. What are green taxes? In the U.S.,

Tax 52

Tax Account accountant accounted 52

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

Finance Manufacturing income tax Idaho 59

Withum

JUNE 6, 2022

It enters into exclusive distribution agreements with the manufacturers of the drugs, but it does not manufacture any drugs itself. This second point is particularly helpful to selling shareholders who want clarity on whether their business is a QTB so they can calculate how much tax will be due on their sale of stock.

Tax 126

Tax income tax Pharmaceutical Manufacturing 126

CPA Practice

MAY 14, 2023

Domestic content is generally defined as steel, iron or manufactured products that are manufactured or produced in the United States. The Department of Treasury and the Internal Revenue Service has issued Notice 2023-38 (pdf) for owners of green energy projects, such as wind, solar and energy storage technologies.

Manufacturing 119

Manufacturing Construction Tax Technology 119

RogerRossmeisl

APRIL 24, 2023

It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. R&E expenses The TCJA has affected many businesses, including manufacturers, that have significant R&E costs. Several provisions in the law have expired or will expire in the next few years.

Manufacturing 235

Manufacturing CPA Tax business tax 235

Ronika Khanna CPA,CA

MARCH 29, 2024

For tax purposes the amount is treated as a capital outlay and included in Class 12 for CCA purposes. For further fun reading on the subject, below are links to Tax Court of Canada cases that specifically deal with the deductiblity of clothing, business suits, accessories and dress clothes: Rail v.

Tax 52

Tax accounting and finance Manufacturing Finance 52

ThomsonReuters

JUNE 15, 2022

The foundation of a successful tax practice rests on the technical knowledge of your people. While you can create a modern firm with automated processes and expansive service offerings, your clients won’t keep coming back if your team isn’t up to speed with the most recent tax law changes. When do tax law changes take effect?

Tax 98

Tax Technology audit tax preparation 98

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. What is Form 3800?

Tax 52

Tax tax preparation business tax bookkeeping 52

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. What is Form 3800?

Tax 52

Tax tax preparation business tax income tax 52

Withum

JUNE 29, 2023

Ryan Brandt is a seasoned tax compliance expert specializing in manufacturing, distribution and logistics, real estate, cannabis and private client services. Devin Desmond is an expert in audits of insurance organizations and not-for-profits and is a leader on the Firm’s Not-for-Profit Tax Team.

E-commerce 105

E-commerce audit Real Estate Healthcare 105

Withum

AUGUST 11, 2022

The Superfund Excise Tax went into effect on July 1, 2022, and many companies are still struggling to understand whether it applies to their operations and how to properly estimate their potential liability. Even though the Superfund Excise Tax has been implemented in the past, it last expired over 25 years ago. billion of revenue.

Tax 72

Tax Manufacturing tax return Sales 72

Withum

AUGUST 8, 2023

Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked to hear how significantly their federal tax bills are increasing for the 2022 taxable year even when their earnings remain the same.

New York 96

New York income tax Manufacturing financial statements 96

MyIRSRelief

MARCH 1, 2022

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Get a free evaluation by calling us at 1-877-78-TAXES [1-877-788-2937]. Get a free evaluation by calling us at 1-877-78-TAXES [1-877-788-2937].

bookkeeping services 100

bookkeeping services bookkeeping Real Estate Non-Profits 100

CPA Practice

NOVEMBER 10, 2023

Top 30 accounting firm Sikich has signed an agreement to acquire the operating assets of Thornhill Financial, a Cleveland-based accounting firm that provides tax, audit, and financial advisory services. The deal, which was announced on Nov. 9, is expected to close at the end of this month.

Ohio 52

Ohio audit Construction Manufacturing 52

Ronika Khanna CPA,CA

FEBRUARY 9, 2024

Quebec Income Tax Box 10 (Impot du Quebec) is the amount of income taxes deducted from employee's paycheques Health Services Fund (FSS) Box 28 This represents the gross payroll and is generally only required if the corporation is in the primary and manufacturing sectors as there is a reduced rate for these types of business.

payroll 98

payroll income tax Manufacturing accounting and finance 98

CPA Practice

JUNE 13, 2023

TNS) A backlog of claims for the employee retention credit (ERC) has piled up before the IRS, as business owners seek out the retroactive tax credit. While it was billed as a lifeline for some companies, the reality is that businesses are waiting months for these credits because of the excessive backlogs pummeling the IRS.

tax return 111

tax return Oregon payroll tax Tax 111

ThomsonReuters

MAY 10, 2022

After more than 25 years, excise taxes on a specified list of chemicals and imported hazardous substances in the U.S. The newly reinstated excise tax compliance obligations can be expected to affect multiple functional areas of a company including Procurement, Finance, Tax, Environmental Regulatory Departments, and Information Technology.

Technology 98

Technology Tax accounting and finance Manufacturing 98

inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

tax return 52

tax return Mississippi Wisconsin Tax 52

Withum

OCTOBER 12, 2022

A new corporate alternative minimum tax (“CAMT”) was enacted as part of the Inflation Reduction Act passed on August 16, 2022. Some financial statement income adjustments include intercompany payments, federal and foreign income taxes, as well as adjusting the financials to reflect tax depreciation. Contact Us. Let’s Chat.

financial statements 69

financial statements Tax income tax Manufacturing 69

KROST

JULY 15, 2021

2021 Tax Planning for Tech Companies: Employee Retention and R&D Credits By Guest Contributor Mike Kniss. Tax , Tax Specialty Services , Mergers & Acquisitions , Technology Industry. Greg has been actively involved with the firm’s business consulting and Tax practice for over 37 years.

Technology 52

Technology CPA Real Estate accounting and finance 52

ThomsonReuters

JANUARY 18, 2024

Accountant vs. CPA vs. tax preparer: What are the differences? Preparing tax returns. For instance, accountants may specialize in serving nonprofits, manufacturers, restaurants , or dental offices. Jump to: What are the roles and responsibilities for accountants? How can accountants be more efficient?

Account 59

Account accountant accounted tax preparation 59

Withum

JULY 26, 2023

The intent of IRC Section 6418, was to increase participation in clean energy initiatives by allowing taxpayers to sell credits without engaging in complicated tax structures. An eligible taxpayer can transfer any portion of an eligible credit on its original tax return. The ability to transfer (i.e. Who can make a transfer election?

Tax 52

Tax tax return Alaska Tennessee 52

Snyder

MAY 31, 2022

Operating a business requires managing a lot of different tasks and expenses. From advertisements and purchasing additional supplies to covering business taxes, every expense has to be accounted for. An expense report is a record of expenses incurred by a business. Be ready to deal with taxes as well.

E-commerce 52

E-commerce accounting and finance audit accounting software 52

ThomsonReuters

JANUARY 9, 2024

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? But what does that mean for your taxes? How are C corporations taxed? What is “double taxation”?

corporation tax 52

corporation tax Tax income tax Non-Profits 52

ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Corporate Alternative (Book) Minimum Tax.

income tax 64

income tax Kansas Kentucky Tax 64

TaxConnex

AUGUST 9, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax holidays fail to live up to the hype. in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Several states tinkered with their sales tax exemptions this summer. Holiday hucksterism? Free for all.

Sales 130

Sales Louisiana Tax Iowa 130

ThomsonReuters

DECEMBER 19, 2023

How to claim energy efficient tax credits from ENERGY STAR Staying up to date with energy efficient tax credits As the world increasingly embraces sustainable practices, energy efficient tax credits serve as powerful tools to motivate individuals and businesses to adopt eco-friendly measures. What is ENERGY STAR?

Tax 52

Tax accounting and finance tax return Manufacturing 52

Cherry Bekaert

JUNE 12, 2023

Tennessee Works Tax Act Tennessee recently enacted the Senate Bill 275/House Bill 323, the Tennessee Works Tax Act , as the single largest tax cut in state history. Current law allows qualified manufacturers and financial asset management companies to elect single-sales factor apportionment.

Tennessee 93

Tennessee Tax payroll Sales 93