Cherry Bekaert

NOVEMBER 28, 2023

Other states allow the pass-through entity owners to reduce their state taxable income by the amount of income previously reported and taxed by the pass-through entity. The IRA incentives can provide financial advantages for businesses investing in clean energy solutions.

tax planning 64

tax planning Tax income tax tax return 64

Withum

FEBRUARY 1, 2023

LIFO The Last-In First-Out inventory method is a common inventory valuation method used by many dealerships that can help taxpayers lower their income tax for a period of time. In order to use the LIFO method, a taxpayer must file Form 970 with their tax return to make the election.

accounting and finance 52

accounting and finance income tax Tax CPA 52

Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. The corporate tax rate is currently a flat 21% rate. years) to a shorter depreciable tax life (e.g.,

tax planning 98

tax planning Tax Construction income tax 98

ThomsonReuters

OCTOBER 19, 2022

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion). The direct-pay election under Code Sec.

Kansas 64

Kansas income tax Kentucky Tax 64