Withum

SEPTEMBER 2, 2022

The federal tax incentive for qualified energy property was extended through the IRA for most projects that begin construction before January 1, 2025 (2035 for geothermal energy used for healing and cooling a structure). For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 69

Tax Construction Government tax services 69

Withum

JANUARY 21, 2022

Offering this new benefit or loosening restrictions on existing PTO programs is great for employee morale, but it can cause unintended tax consequences under the constructive receipt doctrine. The problem with these plans is they create unintended tax consequences due to an arcane tax concept called the constructive receipt doctrine.

Tax 81

Tax Construction tax services business tax 81

Withum

AUGUST 24, 2023

The base energy project 6% can be increased to 30% if the project:  has a maximum net output of less than 1 megawatt of electrical (as measured in alternating current) or thermal energy,  construction began before January 30, 2023, or  meets the prevailing wage and apprenticeship requirements. 

Tax 52

Tax Construction income tax Non-Profits 52

Withum

AUGUST 11, 2022

announced they had reached an agreement on a reconciliation bill that includes a significant adjustment to Section 45, the renewable electricity production tax credit (PTC). The proposed bill incentives businesses to create more efficient facilities and provide fair wages to laborers and mechanics during construction.

Tax 84

Tax Construction Manufacturing Transportation 84

Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

tax planning 98

tax planning Tax Construction income tax 98

Going Concern

JANUARY 4, 2024

Tax Credits & Incentive Services). Antonache manages federal and state tax consulting and compliance matters related to incentives for renewable energy development. International Tax Services). Automotive & Dealer Services Practice). Financial Services Practice). Financial Services Practice).

Real Estate 59

Real Estate Hospitality Construction audit 59

Withum

MAY 16, 2022

Favorable rules, which were put into place for taxable years after 1992, could allow the cancellation of debt income to be deferred for federal income tax purposes even if the taxpayer is not in bankruptcy or insolvent—as is normally the case. How coronavirus hit commercial real estate – GREEN STREET ADVISORS.

Real Estate 131

Real Estate Tax income tax tax return 131

CPA Practice

JANUARY 3, 2024

Top 15 accounting firm Moss Adams has added 20 new partners, five managing directors, and an executive director across its tax, assurance, and advisory practices and national office. For over 100 years, we’ve supported organizations as businesses advisors and accountants,” Moss Adams Chairman and CEO Eric Miles said in a statement on Jan.

Real Estate 52

Real Estate Kansas tax services Construction 52

Cherry Bekaert

SEPTEMBER 22, 2023

The Tax Cuts and Jobs Act of 2017 (TCJA) gave way to the OZ program, which instantly became a hot topic across the real estate industry. The program intrigued investors with opportunities to defer tax on their capital gains until December 2026 and receive a stepped-up basis in their investment for at least 10 years.

Real Estate 111

Real Estate Agriculture Construction Non-Profits 111

CPA Practice

DECEMBER 12, 2023

The merger will expand Fargo, ND-based Eide Bailly’s footprint in California and enhance the firm’s service offerings in the construction industry. Founded in 1981, RBTK specializes in overall accounting and tax services, but it also provides insightful business solutions, including business succession and retirement considerations.

cpa firm 52

cpa firm CPA Construction Real Estate 52

CPA Practice

APRIL 27, 2023

For example, a company may use the funds from a capital grant for: Land purchases The construction of a new building The purchase of new equipment Restoration or renovation If a client is looking to acquire a tangible asset or material, then a capital grant may be worth considering. . based jobs.

Non-Profits 124

Non-Profits Real Estate tax services Tax 124

Cherry Bekaert

SEPTEMBER 29, 2023

real estate, while taking advantage of any strategic tax benefits that coincided with a desired new investment. With over 75 years of tax consulting and compliance services, Cherry Bekaert’s Opportunity Zone Team can step in and advise on these investment funds and tax credits and incentives.

Real Estate 105

Real Estate tax consultant Hospitality Construction 105

Withum

JUNE 24, 2022

One unfortunate side effect of the ERC explosion has been the proliferation of tax credit companies offering dubious advice in exchange for outsize fees. The memos are so generic that they would not even qualify as tax advice that clients can rely on to assert a reasonable cause defense to penalties.

Tax 126

Tax audit tax return tax services 126

PYMNTS

FEBRUARY 24, 2020

Tax season is upon U.S. In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). The construction industry targeting, in particular, is a reminder that no one sector is immune.”.

Tax 65

Tax North Carolina Construction B2B 65

xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. However, there are many types of business tax credits and the IRS has strict eligibility requirements.

business tax 52

business tax Tax tax return income tax 52

CPA Practice

FEBRUARY 19, 2024

Professionals on the Move is a round-up of recent promotions and staffing announcements from around the accounting and tax profession. Schneider Downs Boosts Tax Team Schneider Downs & Co., Hailey Adams , Tax Manager, has been in public accounting for over 9 years, primarily focusing on tax-exempt organizations.

New Hampshire 64

New Hampshire audit accounting and finance Non-Profits 64

Withum

AUGUST 7, 2023

The Alternative Vehicle Refueling Property Credit is a federal tax credit designed to incentivize the adoption of eco-friendly refueling infrastructure. What Is the Federal Income Tax Credit for a Charging Station Utilized in a Trade or Business? percent; and, In the case of construction that begins after December 31, 2023, 15 percent.

income tax 52

income tax Construction Non-Profits Transportation 52

Withum

SEPTEMBER 2, 2022

Applicable entities, including tax exempt entities, state or local governments, and Indian tribal governments can make a direct pay election for this credit to effectively treat the tax credits as taxes paid on a filed return. The transferability election under §6418 is not available for the Clean Commercial Vehicle Credit.

Construction 80

Construction Manufacturing Tax Government 80

Withum

JANUARY 25, 2023

The inability of Congress to include key tax extenders in the Consolidated Appropriations Act of 2023, signed into law on December 29, 2022, will increase the federal income tax bill for the majority of U.S. Coming into the new year, business owners likely breathed a sigh of relief that no major tax legislation was passed.

Tax 81

Tax income tax Real Estate Start-ups 81

CPA Practice

FEBRUARY 1, 2024

Professionals on the Move is a round-up of recent promotions and staffing announcements from around the accounting and tax profession. Schneider Downs Boosts Tax Team Schneider Downs & Co., Hailey Adams , Tax Manager, has been in public accounting for over 9 years, primarily focusing on tax-exempt organizations.

New Hampshire 52

New Hampshire audit accounting and finance Non-Profits 52

Steve Feinberg

MARCH 15, 2023

Construction companies and tradespeople both have difficult jobs requiring long hours, skilled labor, and plenty of liability if the final product isn’t up to snuff. It’s a crucial part of any business, but it’s especially important for cabinetry companies, independent contractors, construction firms, etc.,

bookkeeping 52

bookkeeping Construction New Hampshire accounting and finance 52

Going Concern

MARCH 18, 2024

Under the plan, Deloitte’s main business units will be cut to four — audit and assurance; strategy, risk and transactions; technology and transformation; and tax and legal — from the five the firm has had since 2014. In 2022 it was even fined twice in one day for audit failures at the construction companies Kier and Galliford Try.

Account 88

Account accountant accounted audit 88

CPA Practice

AUGUST 17, 2023

by INSIDE Public Accounting , Smith + Howard provides tax, accounting, and advisory services to businesses across the U.S. in the construction, distribution, hospitality, manufacturing, nonprofit, real estate, and technology sectors. 103 in the top 500 accounting firms in the U.S.

Real Estate 52

Real Estate accounting firms tax consultant Technology 52

LyfeAccounting

MARCH 11, 2021

We’re about to reveal the best and biggest tax breaks for homeowners. Homeownership offers some of the best tax deductions and tax credits that can save you thousands of dollars in taxes. 8 Tax Breaks for Homeowners You Need to Know. Property Taxes. But you’re not one of them…. Let’s jump right to it!

Tax 52

Tax income tax Construction small business accounting 52

CPA Practice

FEBRUARY 23, 2023

Founded in 1967, Haefele Flanagan is a full-service advisory, accounting, auditing and tax service firm. They pride themselves on their responsiveness and hands-on approach when serving clients in industries such as construction, healthcare, nonprofit, technology and more. With two locations in Maple Shade, N.J.

accounting firms 52

accounting firms Account accountant accounted 52

Ryan Lazanis

AUGUST 2, 2023

Here are some examples: Smith Bookkeeping Solutions Brown Financial Consulting Jordan and Johnson Accounting & Tax Services Patel & Associates Certified Public Accountants Etc. Pulchritudinous Accounting Solutions Sempiternal Chronovex Advisors Wyldfyre Bookkeeping Savants Novus Futureal Tax Experts Etc.

accounting firms 52

accounting firms Account accountant accounted 52

Withum

SEPTEMBER 6, 2022

Under the IRA, the square footage deduction could be as high as $5 per square foot encouraging the construction of energy efficient commercial buildings. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. The deduction for the 2022 taxable year was $1.88 per square foot.

Construction 80

Construction tax services business tax Tax 80

CPA Practice

FEBRUARY 8, 2023

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. Likewise, clients in these markets will have access to Andersen’s full suite of tax services and extensive global platform.

Real Estate 52

Real Estate Agriculture Iowa income tax 52

CPA Practice

FEBRUARY 7, 2023

With 15 partners and a total of 120 staff, the firm has significant expertise in the construction, agriculture, manufacturing and service sectors. Its head office is in Ypres and the firm offers a full range of accountancy, advisory and tax services.

Agriculture 52

Agriculture Construction Manufacturing audit 52

Withum

MARCH 3, 2023

Supreme Court interpreted sales tax nexus under the Commerce Clause as a minimal physical connection with a state; however, in South Dakota v. 2080 (2018) , the Supreme Court held that physical presence is no longer the only requirement for sales tax nexus and expanded the meaning of nexus to include sales into a state by a remote seller.

South Dakota 52

South Dakota Tax Real Estate Sales 52

Withum

SEPTEMBER 23, 2022

The basis still includes not only the purchase price of the property but also any costs for acquisition or construction. In addition, qualified apprentices must be utilized when constructing the alternative fuel vehicle refueling property. For construction that beings before January 1, 2024, apprenticeship hours must equal 12.5%

Construction 52

Construction tax services business tax Tax 52

Steve Feinberg

SEPTEMBER 7, 2023

Let’s look at some of the best tips and advice for bookkeeping for home service contractors. Importance of Bookkeeping for Home Service Contractors Bookkeeping for small construction businesses and home service contractors is crucial for many reasons.

bookkeeping 52

bookkeeping bookkeeping services bookkeeping software accounting and finance 52

Steve Feinberg

JANUARY 30, 2023

All of the industry experience necessary to run a functioning HVAC company leaves little time to learn the minutiae of business accounting, bookkeeping, taxes, and payroll—unfortunately, these things are exactly what can keep even the best businesses from turning a profit. See related: Small business tax services.

bookkeeping 52

bookkeeping Construction small business accounting accounting software 52

Going Concern

JUNE 10, 2022

Reality TV stars convicted of fraud and tax evasion [ Department of Justice ] Following a three-week trial, a federal jury found Todd and Julie Chrisley guilty of conspiring to defraud community banks out of more than $30 million of fraudulent loans. sanctions against Russia from providing tax advisory and preparation services to the U.S.

auditor 59

auditor accounting and finance audit CPA 59

inDinero Accounting

FEBRUARY 7, 2022

Students were taught construction and farming to literally build the school from the ground up. We are a national leader in tax preparation, accounting, and CFO services, and are happy to serve the Black community in all financial needs. Hampton remains today a prestigious Historically Black College or University (HBCU).

Washington 52

Washington West Virginia Virginia Mississippi 52