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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.

Tax 105
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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.

Tax 72
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Tax Fraud Blotter: Negative waves

Accounting Today

Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. Yager used clients information to present false returns to the IRS from November 2023 through March of 2024, submitting returns in the name of her clients without their knowledge or approval. All rights reserved.

Tax 69
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Tax Fraud Blotter: Boundless energy

Accounting Today

1, 2024; and CPA Walter W. 20, 2024, and attorney Jason M. 10, 2024, and attorney Catherine E. 14, 2024, and CPA George O. 4, 2024; Enrolled Agent John A. Klein, in New City, New York, (effective July 22, 2024). All rights reserved. Fulton, Agoura Hills, indefinite from March 18, 2025; CPA Mark L.

Tax 71
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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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Pros and cons of the Big Beautiful Bill

Accounting Today

We can now go back to the old provisions, especially for small businesses with under $31 million in revenue, and amend for 2022, 2023 and 2024. By Jeff Stimpson 8h ago Practice management CohnReznick acquires Piascik The Top 25 Firm based in New York is expanding to Richmond, Virginia, by combining with a firm with specialized tax services.

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The Tax Firm of Mike Habib, EA: A Beacon of Personalized Tax Service in Pasadena and Glendale, California

MyIRSRelief

Through real-life stories from Pasadena and Glendale, heres how this firm stands head and shoulders above the rest, proving that when it comes to taxes, personal attention isnt just a perkits the star of the show. For Maria, the corporate tax machine didnt just fail herit left her stranded. Facing a tax emergency at 7 PM?