inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Deductions work by reducing your total gross income.

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Withum

JANUARY 13, 2022

Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. This article will serve as a cheat sheet to taxpayers and practitioners to properly report COVID-19 relief funds on their 2021 tax returns. Eligible expenses paid using SVOG funds are fully tax deductible.

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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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xendoo

JANUARY 12, 2022

You can use the information and the dates we provide to form a strategic plan for preparing and filing your taxes in 2022. What Is the Business Tax Filing Deadline for 2022? You may have already marked April 18, 2022, on your calendar to remind you to pay your personal income taxes. June 15, 2022: U.S.

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Withum

MARCH 21, 2022

As you may recall, the 199A deduction was incorporated in the TCJA as a compromise for pass-through entities owners after significant public comment following the proposed decline of the corporate tax rate 35% to 21%. Lastly, the taxable income before salaries and wages is $1,500,000.

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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. Geography, such as distressed zones, enterprise zones, or tax-increment finance districts.

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Going Concern

APRIL 14, 2023

Accounting problems in Signal Mountain began in 2021 and increasingly got worse, he said. The audit for the 2021-22 fiscal year, which ended June 30, 2022, was due Oct. Considerable research supports that auditors benefit from knowledge spillover gains when they also provide tax services to their audit clients.

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