CPA Practice

OCTOBER 5, 2023

When you retire, your taxable income, and thus your tax rates, fall. When you turn on Social Security and start taking distributions from retirement accounts, it pops back up. During this time, you can move money from pre-tax retirement accounts into Roth IRA accounts and pay taxes at your current rate.

Tax 111

Tax income tax tax planning accounting and finance 111

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

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

business tax 52

business tax Tax income tax payroll tax 52

Anders CPA

MAY 25, 2023

Some provisions within the act will be introduced over the course of the next one to three years, making this the ideal time for plan sponsors to begin making preparations and adjustments to account for the amended regulations. Withdrawals can be made from emergency savings accounts tax and penalty-free. SECURE Act 2.0

Education 52

Education audit Tax income tax 52

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.

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Pharmaceutical accounting and finance Tax income tax 52

ThomsonReuters

SEPTEMBER 7, 2023

However, navigating ever-changing child and dependent tax credits and encouraging clients to keep track of relevant documentation throughout the year can be a complicated process, to say the least. To claim the child and dependent care tax credit, taxpayers must file their Form 1040 federal income tax return using Form 2441.

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Tax income tax tax preparation tax return 52

xendoo

FEBRUARY 13, 2023

If you’re wondering how to pay less in taxes, you’re not alone. Everyone—from individuals to business owners—wants to know how to lower their taxes. Tax laws are complicated and they can change each year. Our tax accountants know all the tax breaks for business owners and how to leverage them.

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Tax income tax Non-Profits Legal 59