FusionCPA

NOVEMBER 24, 2020

It's that time of the year again where businesses are preparing their end-of-year tax. Corporate income tax is the third largest source of revenue for the federal government. While the amount collected for corporate income tax pales when compared to individual income tax or payroll tax, it still accounts for 1.1

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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. Estate Tax Planning. 2022 Year-End Tax Planning Resources.

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Withum

MAY 4, 2022

Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. PTET Income Tax Addback. Contact Us.

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SingleTrackAccounting

MAY 13, 2021

According to the Tax Policy Center, the tax hikes would generate $2.4 trillion dollars between 2021 and 2030. We have been getting questions lately on how the new tax bill will affect small businesses. Corporate Tax Rate. The proposed corporate tax rate would see an increase from 21% to 28%.

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Wellers Accounting

MARCH 11, 2022

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

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Withum

OCTOBER 18, 2023

With some economic upheaval and various provisions of the Tax Cuts and Jobs Act (“TCJA”) nearing their end, here are a few things to be mindful of as we cruise into the 4th quarter of 2023. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

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CPA Practice

JUNE 20, 2023

The two parties have been battling over the tax benefit since before a larger version of it lapsed after 2021. The core of the legislation would revive an expanded tax credit for families that was in place for 2021, typically worth $3,600 per year for children under age 6 and $3,000 for older kids, paid in monthly installments.

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