SMBAccountant

MAY 17, 2024

Per the Small Entity Compliance Guide published by the Financial Crimes Enforcement Network, companies created or registered to do business before January 1, 2024, will have until January 1, 2025 to file their initial BOI reports. Establish a system for collecting and remitting sales tax if required.

accounting software 130

accounting software Legal tax return financial statements 130

Dent Moses

DECEMBER 8, 2022

If you have an applicable financial statement (AFS) which one qualifying option is audited financial statements, any item(s) below $5,000 per invoice or item may be expensed. Without an AFS, say you have a tax return or compilation, the limit is $2,500. 2022 is the last year for a 100% bonus.

Real Estate 98

Real Estate financial statements tax return audit 98

Cherry Bekaert

NOVEMBER 28, 2023

The IRA incentives can provide financial advantages for businesses investing in clean energy solutions. Preliminary tax reporting and issue identification can be initiated before the financial statement audit is completed. and foreign taxes should review their strategies annually.

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. NADA is optimistic that the bill will Pass.

accounting and finance 52

accounting and finance income tax Tax CPA 52

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).

Kansas 64

Kansas income tax Kentucky Tax 64

Withum

NOVEMBER 17, 2022

The corporate tax rate is currently a flat 21% rate. The IRA includes a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Limits on Deduction of Business Interest. Repair and maintenance studies.

tax planning 98

tax planning Tax Construction income tax 98

Going Concern

AUGUST 4, 2023

While the US Securities and Exchange Commission doesn’t technically approve SPAC deals, it requires audited, accurate financial statements to declare such tie-ups effective. The IRS says it receives 76 million paper tax returns and related forms annually, while also handling 125 million pieces of correspondence and non-tax forms.

cpa firm 98

cpa firm CPA accounting firms accounting and finance 98