Cherry Bekaert

MAY 3, 2024

What Is Global Tax Minimization? Global tax minimization is the process that companies follow to fully comply with the tax law in each country in which they operate in such a manner that their worldwide income tax liability is reduced to the lowest possible amount. income tax return. income tax.

Tax 96

Tax income tax Non-Profits corporation tax 96

Withum

APRIL 5, 2022

Increase in corporate income tax rate from 21% to 28%. Repeal of Base Erosion and Anti-Abuse Tax (BEAT) on corporate taxpayers and replace it with an Undertaxed Profits Rule (UTPR). Increase in top individual income tax rate from 37% to 39.6%. The proposal also would subject the income to self-employment tax.

Tax 119

Tax income tax CPA tax services 119

Withum

AUGUST 24, 2023

Please join James Bartek , Jason Rosenberg and Bonnie Susmano from Withum’s State and Local Tax services team, as they provide an update on key state and local tax issues affecting the healthcare industry.

Healthcare 52

Healthcare Tax income tax New York 52

MyIRSRelief

DECEMBER 10, 2021

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is. What exactly is state and local tax?

Tax 100

Tax income tax tax planning tax return 100

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. Not all sales and not all taxpayers can qualify to use the installment sale method.

Real Estate 109

Real Estate tax planning Construction Tax 109

Withum

FEBRUARY 16, 2023

Most state income tax systems fall into two categories: progressive tax and flat tax. Massachusetts touts a “flat tax” system. Everyone pays the same percentage of their income. Not exactly the best example of a “flat tax” system, right? More information can be found in TIR 23.1.

Massachusetts 75

Massachusetts income tax Tax tax return 75

Withum

NOVEMBER 28, 2023

Perhaps to a low-tax or no-tax state? If so, you are not alone, and here are some of the things you should be considering for income tax purposes. Reduce Taxable Investment Income: Structures exist to reduce or eliminate the income tax on future investment income.

income tax 52

income tax tax planning Tax payroll 52

ThomsonReuters

JULY 6, 2023

research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do?

Tax 98

Tax tax return income tax audit 98

xendoo

JANUARY 16, 2023

How Much Do Small Businesses Pay in Taxes by State? How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation.

business tax 52

business tax Tax income tax payroll tax 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

CPA Practice

APRIL 13, 2023

Income tax on crowdfunded assets According to the IRS, money raised through crowdfunding is generally considered taxable income. This means that the funds must be reported on your tax return and taxes must be paid on the amount received.

income tax 111

income tax payroll tax Tax tax return 111

Withum

JUNE 6, 2022

Section 1202 provides for the full or partial exclusion of capital gain realized on the sale of QSBS. The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. The IRS noted that all of the taxpayer’s revenues are generated by the sale of drugs.

Tax 126

Tax income tax Pharmaceutical Manufacturing 126

CPA Practice

MAY 10, 2024

Erin Eberly has been named the partner-in-charge of KSM’s tax services. In this role, Eberly leads tax professionals across the firm to deliver tax compliance and consulting services with excellence. Together, with CEO and President Tim Cook, they comprise KSM’s executive committee, the firm’s leadership team.

Tennessee 64

Tennessee audit New York income tax 64

Withum

APRIL 5, 2023

Section 1202 was enacted in 1993 and excludes certain percentages of gain triggered on the sale of Qualified Small Business Stock (“QSBS”) provided the stock is held for more than five years. Therefore, none of Angela’s gain on the sale of QSBS would be taxable at the federal income tax level. That was not a typo!

income tax 69

income tax corporation tax Tax Sales 69

Withum

FEBRUARY 6, 2023

ISOs offer many tax benefits, making them an attractive option for employees who wish to partake in the future growth of their employer’s stock. Tax Benefits of ISOs One of the many benefits of ISOs is the deferral of income tax until they are exercised. net investment income tax).

income tax 80

income tax payroll tax Tax payroll 80

Withum

MARCH 7, 2022

The state’s Department of Revenue had initially estimated the tax would apply to about 7,000 state residents a year and would raise about $445 million starting in the fiscal year 2023. State and Local Tax Services. The post The Reversal of Washington State’s New Capital Gains Tax – Now What? Get in Touch. Contact Us.

Washington 75

Washington Tax income tax tax return 75

Withum

NOVEMBER 17, 2022

Today, almost all states employ economic nexus concepts, whereby merely having sales sourced to a state generally result in a filing requirement even without a physical presence. Economic nexus presents risk and opportunity for service providers. It has significant tax in any respective out-of-state jurisdiction.

tax planning 52

tax planning Tax income tax CPA 52

Withum

JUNE 1, 2022

It is not uncommon for businesses to utilize First-In-First-Out (“FIFO”) for internal reporting purposes but use the Last-In-First-Out (“LIFO”) method for external reporting purposes, such as for US GAAP and federal income tax. Taxpayers should be monitoring their COGS and higher sales prices due to inflation. Potentially.

business tax 119

business tax Tax income tax tax return 119

ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. That includes: Preparing federal and state income taxes. Filing quarterly employment taxes. Insurance sales.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

Withum

NOVEMBER 14, 2022

The IRS’s decision to grant late-filing relief in this context is not that surprising or ground-breaking, but it does highlight an important tax strategy that we are starting to see with increasing frequency. Section 1202 generally provides for the full or partial exclusion of capital gain realized on the sale of QSBS. QSBS Generally.

tax return 113

tax return Entertainment Tax Sales 113

inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex. Let’s dive in.

income tax 52

income tax Legal corporation tax Tax 52

inDinero Accounting

APRIL 3, 2023

Your choice of business entity depends on a variety of factors including size, number of owners, optimal tax considerations, liability, and options available for raising investment capital. No matter what choice is right for you, Indinero provides expert business tax services that simplify the complex. Let’s dive in.

income tax 52

income tax Legal corporation tax Tax 52

xendoo

DECEMBER 11, 2022

Corporations and LLCs that are taxed as corporations must use this form to report their income, tax deductions , and credits. Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes.

Tax 52

Tax income tax tax return bookkeeping 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. In a state with nexus, meeting an established threshold can now be considered sufficient connection with a state for sales and use tax purposes. Wayfair, 138 S. Who needs it?

South Dakota 52

South Dakota Tax Real Estate Sales 52

Withum

NOVEMBER 29, 2023

Federal income tax or information return reporting more than $5 million in U.S.-source source gross receipts or sales (net of returns and allowances). Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Legal 115

Legal Non-Profits income tax Tax 115

xendoo

JANUARY 31, 2022

By itself, a Schedule C will not count as an acceptable tax filing form. Instead, a Schedule C must be submitted along with your personal income taxes using Form 1040. Your Schedule C can be submitted electronically with your personal income tax or stapled to your paper form. Is a Schedule C the Same as a 1099?

tax preparation 122

tax preparation business tax income tax Tax 122

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. Governor Michael L.

Missouri 52

Missouri Tax income tax CPA 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 52

Tax income tax Manufacturing tax return 52

xendoo

AUGUST 2, 2023

Fewer options for raising capital compared to corporations Offer greater flexibility in management and ownership structure The multi-member structure can become complex How LLC taxes work LLCs don’t pay corporate income tax. Instead, they pass through their tax liability to the business owners. tax savings.

Tax 52

Tax income tax Non-Profits tax return 52

xendoo

AUGUST 2, 2023

Fewer options for raising capital compared to corporations Offer greater flexibility in management and ownership structure The multi-member structure can become complex How LLC taxes work LLCs don’t pay corporate income tax. Instead, they pass through their tax liability to the business owners. tax savings.

Tax 52

Tax income tax Non-Profits tax return 52

Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. If you do have a wash-sale, the loss will be deferred until the replacement investment is sold.

tax planning 98

tax planning Tax Construction income tax 98

Withum

AUGUST 3, 2023

At the time, the use of “cost of performance” sourcing remained unchanged for Gross Income Tax purposes (i.e., This results in the elimination of a 3-factor apportionment formula, thereby adopting a single sales factor (SSF) formula, in addition to market-based sourcing (MBS) for service providers.

New Jersey 52

New Jersey income tax Tax payroll 52

Withum

JANUARY 8, 2024

Method of Accounting Many have been waiting for clarification surrounding the IRS administrative procedures that should be followed in order to adjust 2022 federal taxable income to follow the IRS interim guidance provided in Notice 2023-63 and, more recently, Notice 2024-12.

tax return 78

tax return audit Tax income tax 78

Withum

NOVEMBER 29, 2023

Federal income tax or information return reporting more than $5 million in U.S.-source source gross receipts or sales (net of returns and allowances). Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Legal 91

Legal Non-Profits income tax Tax 91

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

Withum

OCTOBER 11, 2023

Therefore, for a contract researcher not to be considered as incurring §174 R&E expenditures, the contractor must be able to document that they bear no financial risk and do not have the right to use, or otherwise exploit, any resulting R&E products through sale, lease, or license.

income tax 80

income tax Tax accounting standards accounting and finance 80

Withum

JULY 12, 2023

This results in the elimination of a 3-factor apportionment formula, thereby adopting a single sales factor (SSF) formula, in addition to market-based sourcing (MBS) for service providers. As SSF/MBS is effective January 1, 2023, the provision includes estimated tax penalty and interest relief for qualifying taxpayers.

New Jersey 52

New Jersey Tax business tax income tax 52