CPA Practice

MARCH 8, 2023

Companies can currently write off 100% of qualified equipment costs in the year it placed its service. This percentage is scheduled to drop to 80% in 2023, 60% in 2024, 40% in 2025, until its wholly phased out in 2027.  He is responsible for Bloomberg Tax & Accounting’s corporate tax products, including Fixed Assets.

income tax 111

income tax Tax financial statements corporation tax 111

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.

income tax 112

income tax New York Tax New Jersey 112

xendoo

JANUARY 16, 2023

From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate. For example, LLCs that opt for the IRS to tax them as corporations are subject to corporate tax rates.

business tax 52

business tax Tax income tax payroll tax 52