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? •

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Tax Account accountant accounted 59

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 52

Tax Non-Profits business tax tax return 52

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.

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income tax New York Tax New Jersey 112

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.

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Real Estate Tax CPA public accounting 92

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.

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Tax tax return Technology income tax 110

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 98

accounting principles Tax tax planning Account 98

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).

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income tax Kansas Kentucky Tax 64