Tax Strategy: Year-end 2023 tax planning
Accounting Today
OCTOBER 25, 2023
In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.
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Accounting Today
OCTOBER 25, 2023
In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.
Cherry Bekaert
NOVEMBER 29, 2023
Prepare for the 2023 tax season with our comprehensive tax planning checklist for individuals. Expert advice on life changes, investments, IRAs, and estate planning. Do you make charitable contributions? Do you receive income from a pass-through business? How will your income change in 2024?
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RogerRossmeisl
DECEMBER 3, 2023
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. In certain circumstances, The post There May Still Be Time to Reduce your Small Business 2023 Tax Bill appeared first on Roger Rossmeisl, CPA.
RogerRossmeisl
SEPTEMBER 25, 2022
Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. If you expect to be in a higher tax bracket next year, opposite strategies may produce better results. Here are some other ideas that may help you save tax dollars if.
Anders CPA
DECEMBER 18, 2023
As provisions from the Tax Cuts and Jobs Act (TCJA) sunset, a changing tax landscape awaits in 2024. View the 2023 Tax Planning Opportunities for the Construction Industry report from Anders and CICPAC. The post Construction Industry Tax Planning Tips for 2023 Year-End appeared first on Anders CPA.
Shay CPA
NOVEMBER 29, 2023
It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s income, payroll, sales, and foreign taxes. This applies to the 2023 tax year and is a huge dip from the $20,000 reporting threshold in previous years.
Cherry Bekaert
NOVEMBER 28, 2023
There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year.
Withum
DECEMBER 11, 2023
Join Withum’s Law Firm Services team for an overview of the most important tax issues to address going into 2024.
Cherry Bekaert
NOVEMBER 14, 2023
When your business is closing out 2023 and preparing for 2024, it’s the perfect time to delve into actionable strategies that will empower you to maximize your tax savings. Contact Us The post 2023 Year-End Tax Planning Strategies for Businesses appeared first on Cherry Bekaert.
Cherry Bekaert
NOVEMBER 15, 2023
As we approach the close of 2023, it’s your chance to seize those last-minute tax opportunities and brace for upcoming tax law changes that will reshape 2024. Contact Us The post 2023 Year-End Tax Planning Strategies for Individuals appeared first on Cherry Bekaert.
Cherry Bekaert
NOVEMBER 27, 2023
Join two of Cherry Bekaert’s Technology Tax Partners to learn more about what companies in this position should do to mitigate the impact of those rule changes as well as plan strategically for 2024. Contact Us The post 2023 Year-End Tax Planning Strategies for Technology Companies appeared first on Cherry Bekaert.
Withum
JANUARY 20, 2023
The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. Let’s Chat The post 2023 Tax Pocket Guide appeared first on Withum. We can help.
ThomsonReuters
JANUARY 4, 2024
But where do you begin building your tax planning strategy? Tax planning strategy #1: Utilize short-term staffing solutions As tax season begins, firms in need of a short-term boost in headcount should consider outsourcing services to increase workload capacity. Partial outsourcing is also an option.
CPA Practice
DECEMBER 21, 2023
As macroeconomic trends upend long-term planning, business cycles are turning over faster than ever. Recent tax changes coupled with the potential for an economic slowdown have made it even more critical for companies and individuals to make smart decisions on investments and financing. Prepare for public stock buyback tax.
ThomsonReuters
NOVEMBER 9, 2023
There is no doubt that tax professionals are hard to find, let alone replace. In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Tax software powered by AI can automate manual activities, save time, and improve accuracy.
inDinero Tax Tips
DECEMBER 22, 2023
Introduction As 2023 draws to a close, it’s pivotal for small businesses to scrutinize their financial status and strategize effectively for tax reduction and a robust financial future. Despite a static tax legislative landscape, the looming possibility of future amendments necessitates proactive tax planning.
Canopy Accounting
JANUARY 20, 2023
There are many interesting changes in business taxation for the 2023 season! Since tax planning for businesses is an important part of our practice, there are several things we need to be aware of.
SkagitCountyTaxServices
MARCH 17, 2023
Forward-thinking is a must in business… that goes for your taxes too. But first, let’s talk about your tax filing. While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. And I’m going to dive into what that looks like today.
Inform Accounting
FEBRUARY 27, 2024
With the closure of the 2023 tax year approaching on April 5, 2024, there remains an opportunity to assess your tax strategies and capitalise on current year-end possibilities.
Anders CPA
NOVEMBER 21, 2023
Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Consulting with a trusted tax professional to determine your eligibility for certain deductible activities is the best way to maximize your tax savings.
Anders CPA
DECEMBER 8, 2022
The end of the year is an opportunity to get your affairs in order for the year ahead, and when it comes to tax planning, the sooner you begin preparations the better. As 2023 approaches, there are actions that can be taken now to offset or minimize your tax burden. Consider a Donor-Advised Fund.
CPA Practice
NOVEMBER 16, 2023
With the tax landscape continually evolving, Marcum LLP has released its 2023 Year-End Tax Guide. The guide features a detailed analysis of the current tax environment and spans more than 135 pages. The tax guide is available at [link]
Anders CPA
AUGUST 2, 2022
Cryptocurrencies are on the rise, but many investors don’t understand the tax treatment and impacts of these digital currencies. If you’re already investing or looking into investment opportunities, now is the time to familiarize yourself with current tax reporting requirements and wash sale rules before they apply to cryptocurrencies.
Withum
FEBRUARY 20, 2024
The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. Let’s Chat The post 2024 Tax Pocket Guide appeared first on Withum. We can help.
ThomsonReuters
NOVEMBER 21, 2023
Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. Create consumable content on-demand.
Cherry Bekaert
DECEMBER 12, 2023
Cherry Bekaert’s State and Local Tax team dive into the dynamic world of state and local tax planning with our upcoming webinar. Gain valuable insights derived from real client experiences throughout 2023 and equip yourself with the knowledge needed to proactively plan for 2024.
Withum
NOVEMBER 14, 2023
The IRS has recently published the inflation adjustments for the 2024 tax year. Key Figures – Estate and Gift Taxes Below is a summary of key figures related to Estate and Gift Taxes. Key Figures – Estate and Gift Taxes Below is a summary of key figures related to Estate and Gift Taxes.
Cherry Bekaert
APRIL 18, 2024
Each year, as the tax filing deadline nears, it is important to identify your projected tax payments and when to pay them [LJ1] so you can avoid submitting inaccurate tax returns. This podcast focuses on estimated tax payments, withholding and related cash flow planning.
CPA Practice
SEPTEMBER 14, 2023
Bloomberg Tax & Accounting released its 2024 Projected U.S. Tax Rates, which indicates inflation adjusted amounts in the tax code will increase 5.4% increase in 2023, it is nearly double the 2022 increase of 3%. See projected tax bracket tables below.] [See projected tax bracket tables below.]
KROST
DECEMBER 12, 2022
In the last few months of the year, it is important to consider year-end tax planning opportunities as many may provide both immediate and long-lasting financial benefits. Businesses that have not yet explored year-end tax planning should take an immediate inventory of their situation to Read the full article.
Wellers Accounting
JANUARY 22, 2024
Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your liability.
CPA Practice
MAY 3, 2024
Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced plans to deliver new AI-enabled capabilities to tax and accounting professionals, as part of its innovation strategy centered on firm intelligence.
Cherry Bekaert
MAY 3, 2024
Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules.
Withum
NOVEMBER 17, 2022
In recent years there have been significant changes to the State and Local Tax Nexus rules. The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. State and Local Tax Workarounds.
Withum
NOVEMBER 29, 2022
The real estate industry has gotten very comfortable with the luxury of having 100 percent bonus depreciation on certain asset classes since it was re-enacted by the Tax Cuts and Jobs Act on September 27, 2017. These are all items eligible for bonus depreciation and can result in tax savings and increased cash flow. Contact Us.
CPA Practice
MARCH 21, 2024
At the end of 2023, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. Soroban GP challenged this increase in Tax Court. By Julie M.
CPA Practice
FEBRUARY 5, 2024
Westley, CPA, PFS, CFP – 2023 “40 Under 40” Honoree Sr. He specializes in the development, implementation, and oversight of financial, estate and tax plans for high-net-worth individuals, C-suite executives, and affluent families. See all of the 2023 “40 Under 40” and “20 Under 40” honorees.
CPA Practice
OCTOBER 5, 2023
Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) For me, the dread of tax season truly arrives when I start receiving 1099s, W-2s, 1098s, etc., A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results.
CPA Practice
MARCH 12, 2024
Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate. of your AGI.
CPA Practice
APRIL 17, 2023
While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems.
CPA Practice
APRIL 17, 2023
As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.
CPA Practice
JANUARY 31, 2023
The new Bennett Thrasher partners are: Nina Desai DiAndria Green Dane Harris Ray Lee Gabe Rivers Brian Sengson Chris Tomaselli Nina Desai focuses on R&D tax credits in Bennett Thrasher’s Credits and Incentives practice. Her experience includes helping claim tax credits for clients of all sizes, from startups to Fortune 500.
Withum
NOVEMBER 28, 2023
With the year coming to an end, it’s essential to kickstart your 2023 tax preparations and start thinking about tax-saving techniques, potential opportunities, and the recent legal modifications that might impact your tax obligations.
Accounting Today
JANUARY 15, 2024
It was an eventful 12 months for practitioners, with new legislation, regulations, court decisions and IRS pronouncements all impacting the tax landscape.
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