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.  Prior to Bloomberg Tax & Accounting, Ryan was a CPA at KPMG’s Washington D.C.

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Withum

SEPTEMBER 15, 2023

Businesses and accounting firms will monitor the progression of the bill closely, however, 2023 estimated tax payments should still include the capitalization of 174 R&E. Let’s Chat The post Do You Need Help With 174? appeared first on Withum.

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Withum

MAY 4, 2022

With proper planning and implementation, PTET elections can be a valuable state tax planning strategy. Authors: Jason Rosenberg , CPA, CGMA, EA, MST | jrosenberg@withum.com and Zhoudi Tang , CPA, MST | ztang@withum.com. State and Local Tax Services. Contact Us.

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Withum

FEBRUARY 16, 2023

The federal exclusion is available for student loans forgiven on or after January 1, 2021, and ending on or before December 31, 2025. Additionally, as a result of the Code update, there are several other miscellaneous IRC provisions that Massachusetts personal income tax law now conforms to. More information can be found in TIR 23.1.

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Cherry Bekaert

FEBRUARY 2, 2024

Compliance requirements for SB 253 are as follows: Beginning in 2026 (for reporting year 2025), reporting entities are required to annually report their Scope 1 and Scope 2 greenhouse gas emissions. Sectors that are experiencing a wave of add-on deals include trade services (HVAC, electrical, plumbing, etc.),

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xendoo

JANUARY 16, 2023

Understanding your entity type and requirements is the first step toward filing your taxes accurately and efficiently. Tax laws are constantly changing, and it can be challenging to keep up with the latest revisions. A professional tax advisor or CPA can accurately file your business taxes on time.

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