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2022 Year-End Tax Planning Checklist

Withum

2022 Tax Brackets and Rates. Taxable Income Over. 2022 Long-Term Capital Gains Tax Bracket. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Capital Gain Planning.

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What are general anti-avoidance rules?

ThomsonReuters

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. For context, in January 2022, New Jersey revised its PTET, resulting in it being more uniform with New York’s PTET. PTET Income Tax Addback. Other Budget Bill Highlights.

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How to Pay Dividends: Completing the T5 Slip and Summary

Ronika Khanna CPA,CA

Note that the T5 slips for calendar year (ended December 31st) 2022 are due by February 28, 2023. This post and the T5 calculator have been updated to reflect If you are the owner of a Canadian corporation, you can choose to pay yourself (and other shareholders) dividends instead of a salary. For 2022, this is date falls on a Tuesday.

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End of tax year planning strategies for 2022/23

Wellers Accounting

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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Upcoming Tax Issues Facing Dealerships That Need To Be Addressed Now

Withum

Then in 2023, interest rates began to climb and continue to do so, inventories started to get stale, manufacturers tinkered with floor plan assistance programs, and profitability dropped at stores. In 2022, the interest limitation is based on adjusted taxable income after depreciation and amortization.

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Tax Authorities Set an Aggressive Schedule for Global Minimum Tax

ThomsonReuters

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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