Withum

DECEMBER 4, 2024

Real property trades or businesses can elect out of the provision, but they must use ADS to depreciate nonresidential real property, residential rental property, and qualified improvement property (and ADS generally has longer recovery periods than MACRS). 179D Expensing: The energy-efficient commercial buildings deduction under Sec.

Tax

Accounting Today

JULY 25, 2025

FLORIDA Stefano Comotti was appointed chair of the global board of the Institute of Internal Auditors, Lake Mary, for 2025-26. TENNESSEE Rodefer Moss & Co, Knoxville, launched Rodefer Moss Transaction Advisors, a dedicated M&A advisory service designed to serve CPA firms with clients that are considering a business transaction.

Rhode Island

Going Concern

JANUARY 17, 2025

TAX CANDIDATES FTE Tax | Candidate ID #23772188 Certifications: CPA in process, EA Education: BBA Accounting and Finance Experience (years): 8+ years experience in tax accounting. The post Top Remote Accountants of the Week | January 17, 2025 appeared first on Going Concern.

Real Estate

Going Concern

JUNE 19, 2025

The post Top Remote Tax and Accounting Candidates of the Week | June 19, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Reach out to her at liz@accountingfly.com.

Real Estate

ThomsonReuters

JULY 18, 2025

That changed dramatically with the 2017 Tax Cuts and Jobs Act (TCJA), which imposed a $10,000 cap on SALT deductions. Now, with the passage of the One Big Beautiful Bill Act (OBBBA) in July 2025, the landscape is shifting again. Podcast Tax reform unpacked: What does the One Big Beautiful Bill Act mean for you?

New Jersey

CPA Practice

OCTOBER 30, 2024

Aprio , a top 25 business advisory and accounting firm, has released its 2024 End of Year Tax Update , highlighting 2024 tax updates and factors that will significantly impact tax planning for 2025 and beyond. With that, the expiration for filing new ERC claims for 2021 expires on April 15, 2025.

Tax

Withum

AUGUST 6, 2025

Since it was signed on July 4, 2025, many are still working through the initial guidance and trying to plan for the unknown regarding this new legislation. Our team is closely monitoring sweeping tax reform changes, shifting tariffs and tax industry updates, delivering in-depth analysis and actionable insights.

Tax

Going Concern

JANUARY 30, 2025

The post Top Remote Accountants of the Week | January 30, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

Real Estate

Accounting Today

JULY 25, 2025

Tasks once performed by junior staff — data entry, reconciliations, audit sampling, basic tax preparation — are increasingly automated. © 2025 Arizent. All rights reserved. EDT 4 Min Read Facebook Twitter LinkedIn Email The accounting profession is a prime example of how AI is reshaping entry-level roles. All rights reserved.

Technology

CPA Practice

JUNE 18, 2025

The Senate bill includes the following provisions that the AICPA has endorsed in the past: An increase in the standard deduction for years 2025-2028. Following the release of the reconciliation bill by the Senate, the AICPA has identified several provisions it supports.

Tax

CPA Practice

JULY 23, 2025

Twenty-one say it would be helpful if the IRS could stagger individual and business deadlines for tax relief (i.e., separate extended deadlines for filing personal and business taxes and payment) after a national disaster. when there is loss of property to circumstances beyond your control – fire, theft, disaster, etc.).

Technology

CPA Practice

JULY 29, 2025

© 2025 the Las Vegas Sun (Las Vegas, Nev.). OBannon Taxes July 29, 2025  IRS Reminds Tax Pros of Requirement for a Written Information Security Plan (WISP) As part of a special five-part series, the IRS and its Security Summit partners highlight the importance of tax pros creating and maintaining a WISP.

Technology

CPA Practice

JULY 25, 2025

This article focuses on the planning challenges facing S corporation owners interested in pursuing the benefits of Section 1202’s gain exclusion. Additional information can be found on our QSBS & Tax Planning Services page.

income tax

Accounting Today

JUNE 10, 2025

899; IRMMA tactics; and other highlights from our favorite tax bloggers. Why lawmakers ought to adopt a simple reform that would raise revenue and make the Districts business tax system fairer. Tax Talk: ( [link] ): OBBBA wont be so beautiful for foreign persons if IRC Section 899 becomes reality. All rights reserved.

tax preparation

Accounting Today

JULY 21, 2025

For 2022-2024 tax years, the new law provides very favorable transitional rules for businesses that incurred domestic R&D costs. Small-business taxpayers — those with less than $31 million in gross receipts during 2025 — can elect to expense rather than capitalize domestic R&D costs going back to 2022.

Technology

Accounting Today

JUNE 9, 2025

EDT 4 Min Read Facebook Twitter LinkedIn Email Eric Lee/Bloomberg Senate Republicans intend to propose revised tax and health-care provisions to President Donald Trumps $3 trillion signature economic package this week, shrugging off condemnations of the legislation by Elon Musk as they rush to enact it before July 4. © 2025 Arizent.

Tax

Accounting Today

JUNE 27, 2025

EDT 2 Min Read Facebook Twitter LinkedIn Email Donald Trump Allison Robbert/Photographer: Allison Robbert/Bl President Donald Trump amped up pressure on Congress to speed the passage of his tax-cut bill as Republicans reached a tentative deal on the state and local tax deduction, one of the key sticking points in the negotiations.

Tax

Going Concern

MARCH 13, 2025

The post Top Remote Tax and Accounting Candidates of the Week | March 13, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

Real Estate

Accounting Today

JUNE 18, 2025

Oliver Contreras/Bloomberg The House-passed version of Republicans tax and spending bill would add $2.8 The House-passed bill raises the cap for federal deductions for state and local taxes to $40,000 from $10,000. The Senate draft version makes permanent three business tax breaks and that could boost the economic growth effects.

Technology

CPA Practice

JULY 25, 2025

Micron CEO Sanjay Mehrotra has said that without the combination of federal grants and investment tax credits, the company would not have agreed to expand in New York or even the United States. ©2025 Advance Local Media LLC. Visit syracuse.com. Distributed by Tribune Content Agency LLC. Thanks for reading CPA Practice Advisor!

Tax

CPA Practice

JUNE 23, 2025

Jason Bramwell Taxes June 23, 2025  IRS Refines Pre-Filing Agreement Tax Certainty Program Improvements made to the IRS Pre-Filing Agreement program will provide greater tax certainty for large business and international taxpayers, the agency announced on June 17.

Missouri

CPA Practice

AUGUST 7, 2025

By Paul Truber, Partner, UHY The One Big Beautiful Bill Act (OBBBA) has introduced several changes with important implications for businesses. Transitional options allow for reduced percentages in 2025 for certain property, but the default is 100% expensing. This provision is effective for years after December 31, 2025.

Technology

RogerRossmeisl

SEPTEMBER 9, 2024

For example, you could pull income into 2024 to be taxed at lower rates, and defer deductible expenses until 2025, when they can be claimed to offset higher-taxed income. Here are some other ideas that may help you save tax dollars if you.

tax planning

ThomsonReuters

MARCH 7, 2024

Starting from tax years beginning after December 31, 2022, the 100% bonus depreciation deduction will gradually decrease by 20% each year until it reaches a complete phase-out by the end of the 2026 calendar year. This means that deductible amounts will be reduced to 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026, and finally 0% in 2027.

accounting principles

Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. CFC income that is classified as GILTI is taxed in the U.S.

Tax

Withum

MAY 4, 2022

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

New York

KROST

JANUARY 25, 2021

New Markets Tax Credit. The new markets tax credit was set to expire on December 31, 2020. It is extended through December 31, 2025. Low-Income Housing Tax Credit (LIHTC). In recent years, the Low-Income Housing Tax Credit has fluctuated between 3.15% and 3.97%. It is extended through December 31, 2025.

Real Estate

ThomsonReuters

MARCH 9, 2023

In this post, we will highlight 3 of our top resources included in our Tax Season Toolkit : Year-End Tax Planning for individuals and businesses, How APIs can help transform your practice, and a Case Study detailing how GoSystem Tax RS and GoFileRoom helped a firm. What’s new? •

Tax

Withum

JANUARY 25, 2023

Therefore, the TCJA includes various sunset provisions or set expiration dates for many of the individual income tax legislation benefits. If R&E capitalization does create taxable income, additional tax planning should be reviewed to lower taxable income, which could necessitate an R&D credit study.

Tax

CPA Practice

JANUARY 24, 2024

Choosing Retirement Plans Opening a corporate retirement plan is a great option to lower business taxes. Qualified, profit-sharing plans allow employees to contribute a portion of their wages to individual accounts, while also allowing the employer to make a tax-deductible contribution.

Tax

ThomsonReuters

OCTOBER 19, 2022

FTC coverage begins at A-8900 Corporate alternative (book) minimum tax. Client Letter: 2150 Corporate Alternative Minimum Tax for Tax Years beginning on or after Jan 1.2023. PPC Tax Planning and Advisory Guide: Closely-Held C Corporations, Section 600 Introduction to the Corporate Alternative Minimum Tax (AMT).

Kansas

ThomsonReuters

FEBRUARY 9, 2024

Addressing income equality: The Tax Excessive CEO Pay Act targets corporations with high CEO-to-worker pay ratios to narrow income disparities. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

Tax

CPA Practice

JULY 25, 2025

Jason Bramwell Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access , the IRS said on Wednesday. Jason Bramwell Business Tax Account designated officials must revalidate their accounts by July 29 in order to maintain access , the IRS said on Wednesday.

tax accountant

Cherry Bekaert

SEPTEMBER 11, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) enacted during the Trump administration has numerous provisions set to expire in 2025, making it a hot-button topic both presidential candidates are highlighting in their proposed economic and tax plans. Imposing a baseline tariff on U.S. imports Imposing a 60% tariff on U.S.

Tax

Withum

AUGUST 21, 2024

President Harris’s proposals are based on past campaigns and her support of the FY 2025 Biden Budget. However, it will be important to monitor Vice President Harris’s campaign as a more detailed federal tax reform policy should be released over the next weeks.

tax planning

CPA Practice

MAY 9, 2024

That puts a massive price tag on what is likely to be a top issue in Washington next year as lawmakers grapple with the future of Trump’s tax cuts, which are slated to expire at the end of 2025. Extending the personal income tax cuts will cost $3.8 Last year, CBO estimated renewing the sunsetting tax cuts would cost $3.5

Tax

LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. 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. Individual Tax Rates. Child Tax Credits.

tax planning