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.

tax return 69

tax return payroll tax income tax Tax 69

Withum

MARCH 27, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. The chair of the Senate Finance Committee, Senator Ron Wyden (D-Ore.), a co-writer of the act with Representative Jason Smith (R-Mo.), Let’s Chat The post Can The Senate Finance Committee Save U.S.

Finance 59

Finance Manufacturing income tax Idaho 59

Withum

DECEMBER 23, 2023

But everyone agrees that the more time that passes in 2024, the less likely a federal tax extender bill will be adopted. Some Congressional leaders may support punting federal tax issues into 2025 but waiting three years for relief will have a dramatic negative impact on these businesses, their communities, and the economy.

Pharmaceutical 52

Pharmaceutical Tax accounting and finance income tax 52

Withum

OCTOBER 11, 2023

The Act delays the IRC §174 R&E capitalization requirement until the taxable year starting after December 31, 2025. And even though the Act would only extend §174 immediate expensing through 2025, it gives companies a longer runway to plan accordingly. To learn more about the Build It In America Act, click here.

income tax 80

income tax Tax accounting standards accounting and finance 80

Withum

MAY 4, 2022

With proper planning and implementation, PTET elections can be a valuable state tax planning strategy. State and Local Tax Services. If you like to discuss how New York’s FY 2023 budget bill or pass-through entity taxes may impact you, contact Withum’s State and Local Tax Group for a deeper discussion. Contact Us.

income tax 112

income tax New York Tax New Jersey 112

PYMNTS

SEPTEMBER 18, 2019

According to researchers, FinTech startups threaten to take a $280 billion piece of banks’ payment revenue pie by 2025 with their competing services — worth 15 percent, reports noted. New research from Accenture pointed to this trend and its particularly large impact on the payments sector.

Technology 57

Technology tax services Tax Account 57

Withum

FEBRUARY 21, 2024

For reporting entities created or registered in 2023 or earlier, the initial report is due by January 1, 2025. For reporting entities created or registered in 2025 or later, the initial report is due 30 days after the entity’s creation or registration.

income tax 125

income tax tax return Tax accounting and finance 125

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. More guidance on this is forthcoming.

accounting and finance 83

accounting and finance California cpa firm CPA 83

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.

income tax 111

income tax Tax financial statements corporation tax 111

Cherry Bekaert

FEBRUARY 12, 2024

For entities other than public business entities, the guidance is effective for annual periods beginning after December 15, 2025. Your Guide Forward Cherry Bekaert’s tax services advisors are here to help answer any questions regarding the new FASB income tax disclosure guidance.

income tax 97

income tax Tax accounting standards financial statements 97

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. Author: Sudha Vishwanath , CPA | svishwanath@withum.com Contact Us If you have any questions, please contact a member of Withum’s Tax Services Team.

Massachusetts 75

Massachusetts income tax Tax tax return 75

Withum

JANUARY 24, 2023

The penalty can be reduced to 10% for IRA owners who take the RMD within a specified time period and submit a corrected tax return. Catch-up Contributions Starting January 1, 2025, taxpayers 60 – 63 years old will be able to make catch-up contributions of up to $10,000 per year, indexed for inflation. appeared first on Withum.

Start-ups 26

Start-ups tax return Tax Education 26

Withum

NOVEMBER 17, 2022

Geography, such as distressed zones, enterprise zones, or tax-increment finance districts. Contact a member of Withum’s Tax Services Team to start planning as year-end approaches. Year-End Tax Planning for Businesses. The corporate tax rate is currently a flat 21% rate. Energy credits. Not-for-profits.

tax planning 98

tax planning Tax Construction income tax 98

xendoo

JANUARY 16, 2023

A total of 23 individual and business tax TCJA provisions are set to expire on December 31, 2025. A tax professional can help you understand these changes and their impact on your business. Inflation Reduction Act (IRA) The Inflation Reduction Act (IRA) also influences how much you could pay in taxes.

business tax 52

business tax Tax income tax payroll tax 52

xendoo

FEBRUARY 13, 2023

Pass-through tax deduction (QBI) Congress passed the Qualified Business Income (QBI) deduction as part of the Tax Cuts and Jobs Act. It’s commonly known as the pass-through tax deduction and will end after the 2025 tax year. Your overall business income or loss determines the pass-through deduction.

Tax 59

Tax income tax Non-Profits Legal 59

MyIRSRelief

DECEMBER 10, 2021

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is.

Tax 100

Tax income tax tax planning tax return 100

Withum

AUGUST 11, 2022

Credit Extended to 2025 for Certain Qualified Facilities. In order to receive a PTC, renewable energy must be produced and sold to an unrelated person by the taxpayer from qualified energy resources at a qualified facility during a 10-year period beginning on the date the facility was placed in service. Contact Us. Let’s Chat.

Tax 84

Tax Construction Manufacturing Transportation 84

Withum

JULY 26, 2023

The projected costs for extending research and experimental immediate expensing, bonus depreciation, and broadening the interest expense elimination base through the 2025 tax year is projected to be $47.4 Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

AUGUST 17, 2022

Placed in Service Date Critical Minerals Requirement Battery Components Before January 1, 2024 40% 50% During 2024 50% 60% During 2025 60% 60% During 2026 70% 70% During 2027 80% 80% During 2028 80% 90% After 2028 80% 100% Critical Mineral and Batter Component Requirements Based on Service Date. Contact Us. Let’s Chat.

Tax 124

Tax income tax Manufacturing tax return 124

Withum

AUGUST 17, 2022

Placed in Service Date Critical Minerals Requirement Battery Components Before January 1, 2024 40% 50% During 2024 50% 60% During 2025 60% 60% During 2026 70% 70% During 2027 80% 80% During 2028 80% 90% After 2028 80% 100% Critical Mineral and Batter Component Requirements Based on Service Date. Contact Us. Let’s Chat.

Tax 52

Tax income tax Manufacturing tax return 52

Withum

JANUARY 25, 2023

Therefore, the TCJA includes various sunset provisions or set expiration dates for many of the individual income tax legislation benefits. Even worse, could this reflect the inability to pass future tax extenders? Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 81

Tax income tax Real Estate Start-ups 81