CPA Practice

OCTOBER 5, 2023

A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. The fourth quarter is for tax planning, not tax reporting. I realize that I’m in the minority in thinking that tax planning is fun. So, as we evaluate our client planning for year-end, we are thinking about 2025 premiums.

Tax 111

Tax income tax tax planning accounting and finance 111

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. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).

tax planning 98

tax planning Tax Construction income tax 98

ThomsonReuters

SEPTEMBER 7, 2023

Generally, it is more advantageous to use a dependent care assistance program for dependent care expenses as it provides tax savings at the time of contribution. As such, it is important to evaluate your client’s tax filing status. However, due to tax law changes, dependency exemptions were suspended for tax years 2018 through 2025.

Tax 52

Tax income tax tax preparation tax return 52

ThomsonReuters

MARCH 7, 2024

Any property that is subject to the rules of QIP and is leased by a single tenant now falls under the rules for QIP for tax accounting purposes. 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. By 2026, the bonus depreciation decreases to 20%.

accounting principles 98

accounting principles Tax tax planning Account 98