Shay CPA

DECEMBER 2, 2022

R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits? The R&D credit application (form 6765) filed with a timely filed tax return can provide your startup with additional runway to either invest back into the company for a key hire.

Tax 59

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Anders CPA

AUGUST 30, 2022

The interim Name, Image and Likeness (NIL) Policy has opened many doors for college athletes – including the door that requires annual income tax filings for NIL deals. To deduct some of their expenses against this new form of income, many college athletes have set up LLC’s making their income reportable on Schedule C on their tax return.

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Anders CPA

APRIL 14, 2022

Good news came for taxpayers with large estates when the Tax Cuts and Jobs Act (TCJA) was passed. The TCJA doubled the estate and gift tax lifetime exemption, from $5.49 For 2022, the exemption has been adjusted for inflation to $12.06 There are some tax planning strategies that can be used to protect the first DSUE.

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Ronika Khanna CPA,CA

DECEMBER 2, 2022

Note that the T5 slips for calendar year (ended December 31st) 2022 are due by February 28, 2023. Alternatively, some shareholders also take dividends in addition to a salary depending on their tax planning strategy. and dividend tax credit of 9.0301% are the same for the years from 2019 to 2022.

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CPA Practice

NOVEMBER 27, 2023

billion in 2022. When you file your federal taxes, you must report your stock donation on IRS Form 8283 , which is the form for non-cash charitable contributions. You will need to submit this form with your tax return for the year you donated the stock. billion, representing 64% of the overall donations.

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Basis 365

APRIL 28, 2022

You really should review this periodically as laws and tax code do change. The Statistics Surrounding Business Types Your business type determines more than just what business tax return you will file. A separate tax return is required to be filed as a partnership is a separate legal entity from the partners.

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SkagitCountyTaxServices

APRIL 6, 2022

The first months of 2022 have been somewhat of a whirlwind. Though I should state for the record that here at Padgett & Padgett, PLLC CPA … we’ve been in busy season mode, and aren’t quite in that “spring cleaning mood” yet, ha.). Tax planning. You know, while we’re all in the mood.

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CPA Tax income tax tax return 78

Withum

FEBRUARY 26, 2024

Journal entry approval Tax Updates for Dealers Always a well-attended session is the tax update, where accountants and CFOs alike look to kick tax planning into gear for the upcoming year. Require your team to take vacation time. There are a few new topics for the year that deserve attention.

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CPA Practice

DECEMBER 6, 2023

billion in 2022. When you file your federal taxes, you must report your stock donation on IRS Form 8283 , which is the form for non-cash charitable contributions. You will need to submit this form with your tax return for the year you donated the stock. billion, representing 64% of the overall donations.

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CPA Practice

JANUARY 24, 2024

Tax Incentives with SECURE 2.0 Regardless of the retirement plan best suited for the company, the tax incentives can be lucrative, especially with SECURE 2.0. The law, passed by Congress near the end of 2022, is a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019.

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KROST

JANUARY 13, 2021

Hence, taxpayers in those states will have to report depreciation recapture on their state tax returns and will not be able to take bonus depreciation on the incidental personal property received in the exchange to offset the state tax burden. Federal vs. State. New Provision to the Proposed Regulations.

Real Estate 52

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SkagitCountyTaxServices

OCTOBER 21, 2020

That means that if (again, in this example) Biden wins, AND he follows that particular pattern, then his new tax policies — whatever they might be — will likely impact your 2021 or 2022 tax returns. And, of course, if new tax legislation is passed in 2021, it probably won’t be effective until 2022.

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