Withum

NOVEMBER 29, 2023

Entities created before January 1, 2024 have until January 1, 2025, to file the report. Entities created on or after January 1, 2024 and before January 1, 2025 have 90 days after creation or registration to file a report (note the 90-day period replaces a 30-day period and was finalized on November 29, 2023). 9 & FAQ D.10

Legal 115

Legal Non-Profits income tax Tax 115

Cherry Bekaert

MAY 3, 2024

This income includes passive income like dividends, interest, rents and royalties, and certain types of portable income from related party sales or services. CFC income that is classified as GILTI is taxed in the U.S. through 2025 and as high as 16.406% thereafter. at a rate as low as 10.5%

Tax 96

Tax income tax Non-Profits corporation tax 96

Withum

NOVEMBER 29, 2023

Entities created in 2024 have until January 1, 2025, to file the report. Generally does not include a business’s accountants or lawyers, Board members, or partnership representative. Can I engage a lawyer or accountant to assist me with reporting? 5 & FAQ J.1. When is reporting required? 9 & FAQ D.10. See FAQ #B.7.

Legal 91

Legal Non-Profits income tax Tax 91

Withum

SEPTEMBER 15, 2023

Form 3115 is not required for the change in method of accounting related to Section 174 R&E expenditures if the change was made in the taxpayers’ first taxable year beginning after December 31, 2021. Let’s Chat The post Do You Need Help With 174? appeared first on Withum.

tax return 69

tax return payroll tax income tax Tax 69

Withum

DECEMBER 23, 2023

While all this start and stop is understandable in a deeply divided Congress, business owners remain stuck with dysfunctional tax law that is forcing them to make high, unexpected tax payments on their research and experimental (“R&E”) expenditures while paying 20-year high-interest rates to finance their increasing tax bills.

Pharmaceutical 52

Pharmaceutical accounting and finance Tax income tax 52

Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

income tax 80

income tax Tax accounting standards accounting and finance 80

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

business tax 52

business tax Tax income tax payroll tax 52