Menzies

SEPTEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. This was due to end in April 2021 and will now come to an end in April 2025. The government has extended the availability of 100% first year allowances on the acquisition of cars, zero-emissions goods vehicles and equipment.

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TaxConnex

NOVEMBER 10, 2022

I graduated in 1985 with a Masters in Tax. I was trained in income tax and expected to have a career in public accounting, but I only lasted a few years in a couple of different large CPA firms. I then went to the BellSouth Corporation tax department and had various roles.

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income tax tax return Tax Sales 130

ThomsonReuters

FEBRUARY 9, 2024

Under this act, if a corporation’s CEO or highest-paid employee’s compensation exceeds 50 times the median worker’s pay, the corporate tax rate would be increased by a penalty determined by the legislation.

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Tax tax return Technology income tax 110

ThomsonReuters

AUGUST 2, 2023

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. global minimum tax regime.

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CPA Practice

JUNE 13, 2024

This strategy balances the benefits of current tax law with the need for financial flexibility and security. Core Estate Tax Planning Techniques Regardless of estate value, there are numerous techniques and account structures available to help your clients minimize estate tax consequences—here’s a summary of the most common ones.

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Inform Accounting

NOVEMBER 18, 2022

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

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Shay CPA

NOVEMBER 14, 2023

Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax liability. Plus, your company will qualify for a lower corporate tax rate on your New York State taxes. So, does your startup count as a QETC? Let’s dig in.

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Menzies

JANUARY 4, 2024

Menzies LLP - A leading chartered accountancy firm. The historical ability for non-residents to avoid UK tax on property sales and potentially benefit from reduced stamp duty has undergone significant changes.

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CPA Practice

NOVEMBER 9, 2023

Thomson Reuters, a global content and technology company, has added several updates to its suite of tax, accounting and audit products, it announced at its annual customer event, SYNERGY. These solutions help accounting firms increase productivity and profitability with AI-powered automation of tax workflows.

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CPA Practice

MARCH 8, 2023

The new corporate AMT applies a 15 percent tax to a company’s  adjusted financial statement income  (AFSI). AFSI is a company’s net income or loss reported on its applicable financial statements (AFS), such as a Form 10-K filed with the SEC, including tax and accounting adjustments.

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CPA Practice

OCTOBER 9, 2023

ONESOURCE E-invoicing brings together the best in global tax compliance and e-invoicing into a single solution. Today, more than 80 countries have mandated e-invoicing or continuous transaction control requirements, and this figure could potentially surge by 2025 as governments prioritize tax reform and real-time reporting.

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corporation tax Tax Legal Government 52

ThomsonReuters

DECEMBER 11, 2023

The purpose of this series is to help readers gain a better understanding of e-invoicing and CTC, and their impact on corporate tax teams. Meanwhile, the United Arab Emirates is waiting until July 2025 to start the “mandatory” part of its CTC e-invoicing program for B2B transactions.

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ThomsonReuters

OCTOBER 19, 2022

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion). Who needs to know: Accounting firms and other tax professionals.

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Dent Moses

MAY 8, 2024

Soon after The President’s State of the Union Address, the proposed fiscal year 2025 budget was released. This outlines how the administration would implement the President’s tax policy, indicating a gross tax hike of approximately $5.3 Estate Exemption: Reduce the exemption levels, which were doubled in the 2017 tax overhaul.

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xendoo

JANUARY 16, 2023

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. For example, LLCs that opt for the IRS to tax them as corporations are subject to corporate tax rates.

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Dent Moses

MAY 1, 2024

Soon after The President’s State of the Union Address, the proposed fiscal year 2025 budget was released. This outlines how the administration would implement the President’s tax policy, indicating a gross tax hike of approximately $5.3 Estate Exemption: Reduce the exemption levels, which were doubled in the 2017 tax overhaul.

Tax 40

Tax income tax corporation tax Construction 40

Withum

NOVEMBER 17, 2022

For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada. Consider increasing the amount you set aside for next year in your employer’s health flexible spending account (FSA). Tax-Advantaged Accounts. Year-End Tax Planning for Businesses. Capital Gain Planning.

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tax planning Tax Construction income tax 98

KROST

OCTOBER 9, 2020

No tax increases for taxpayers under $400,000 threshold. Proposes increase in estate and gift tax rates. Considering other tax liabilities, accelerate taxes for retirement accounts for Roth Conversions, Secure Act provisions. Corporate Tax Rates. KROST Insight. Consider accelerating income for 2020.

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CPA Practice

MARCH 7, 2024

In his State of the Union speech, President Biden announced a proposal to deny corporations a tax deduction when they pay more than $1 million to any employee. He also described his plans to bump the corporate tax rate up to 28 percent from the level set by former President Trump’s 2017 tax cuts, which put it at 21 percent.

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LyfeAccounting

OCTOBER 29, 2020

With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. What an Effective Tax System Looks Like. A fair tax system should produce similar outcomes.

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