Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required.

income tax 105

income tax Tax accounting standards financial statements 105

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

OCTOBER 11, 2023

The Act delays the IRC §174 R&E capitalization requirement until the taxable year starting after December 31, 2025. And even though the Act would only extend §174 immediate expensing through 2025, it gives companies a longer runway to plan accordingly. To learn more about the Build It In America Act, click here.

income tax 80

income tax Tax accounting standards accounting and finance 80

Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. Accounting Standards Update No. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

income tax 97

income tax Tax accounting standards financial statements 97