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Autumn Budget 2024 Commentary: Manufacturing

Menzies

Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. Some of this increase will be mitigated by a reduction in corporation tax which will reduce the impact on profitable businesses by up to 25% of the increase.

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. The total section 179 deduction for 2024 is $1,220,000.

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Tax engine integration strategies for digital transformation success

ThomsonReuters

← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. Addressing these issues from the start of your tax engine integration project is crucial for success.

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On the move: RRBB adds partner

Accounting Today

Boyer & Ritter, Camp Hill, hired as associates: Isaiah Houser, Matthew Rindfuss, Madison Bucher, Brady Knier, Nicholas Resele, and previous interns at the firm in 2024: Riley McGallicher, Jacklyn Karoly and Hanna Swalin. All rights reserved. RHODE ISLAND Elizabeth Harman was promoted to partner at KLR, Providence.

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Pass-Through Entity Owners Likely To See Tax Increase Under Senate Bill

Withum

The deduction was provided under the Tax Cuts and Jobs Act in order to provide more equity in the applied tax rates for pass-through businesses and C Corporations, given that the C Corporation tax rate was decreased from 35% to 21% as part of the legislation.

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Trump Wins 2024 Presidential Election: Impact on Federal Tax Reform

Withum

While President Trump won the 2024 Presidential election, and the Republican party has also won the majority in the Senate, control of the House of Representatives is still too close to call. If Republicans gain control of Congress and the Presidency, they will move quickly regarding federal tax reform. trillion through 2035.

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End of tax year planning strategies for 2024/25

Wellers Accounting

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

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