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Do you have tax to disclose on let property in Dubai?

Menzies

Menzies LLP - A leading chartered accountancy firm. The Times has recently reported on leaked data which shows approximately 17,000 British citizens owned approximately 22,000 properties in Dubai as of spring 2022, and yet only 1,900 UK tax residents reported let property income from a Dubai property in the 2021/22 tax year.

Tax 52
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Oh BOI, Beneficial Ownership Reporting Has Started, Even for SMLLCs

Withum

A large operating company is any entity with (a) more than 20 full-time US employees, (b) an operating presence at a physical office within the US, and (c) more than $5,000,000 of US-sourced gross receipts reported on its prior year federal income tax return (IRS Forms 1120, 1120-S or 1065 only).

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Tax planning strategies to start the new year with

ThomsonReuters

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

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Exploring key 2024 tax bill proposals

ThomsonReuters

Webinar How to utilize generative AI to excel your tax and accounting services Learn how GenAI can help you create new insights, solutions, and opportunities for yourself and your clients. What does this mean for my firm? Also, the act addresses the use of optical character recognition (OCR) software.

Tax 110
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Private Tutors and UK tax

Menzies

Menzies LLP - A leading chartered accountancy firm. So, if a tutor is earning less than £1,000 in a tax year from an online platform there will be no requirement to notify HMRC of this source or make a disclosure. The first reports made by the online platforms about their users must be submitted to HMRC before 31 January 2025.

Tax 59
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UK tax considerations for E-sports earnings

Menzies

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? This facility exists specifically to help regularise your historic tax affairs.

Sports 59
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Do You Need Help With 174?

Withum

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021.