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New York Business Stifled Due to Federal Research Capitalization Rules

Withum

Software developers that are in the early stage of evaluation for design ideas to launch new sports websites, as well as improving the existing statistical analysis of their client’s key performance indicators, were required to be capitalized their investment over five years. Does this seem extreme?

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Digging Into the Personal Clean Vehicle Credit

Withum

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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Friday Footnotes: Work-Life Balance, Does It Work?; Big 4 Firms Slash Job Postings; She Doesn’t Even Go Here! | 2.16.24

Going Concern

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.

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SALT Credits – A Handy Guide to State and Local Tax Credits

MyIRSRelief

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?

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House Ways and Means Committee Introduces Potential Tax Extender Bill

Withum

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. The additional credit received for kilowatt hours cannot exceed $5,000.

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Democrats’ Bill Would Allow Auto Dealers to Claim Clean Vehicle Tax Credits Starting in 2024

Withum

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.

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Democrats’ Bill Would Allow Auto Dealers To Claim Clean Vehicle Tax Credits

Withum

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.

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