ThomsonReuters

MARCH 5, 2024

As such, employers may need to research multiple tax plan approaches to forecast for the best possible outcome, and while the sunset date for these measures is more than one and a half years away, answers may come late in the game, leaving employers to scramble for solutions regarding this far-reaching law.

Tax 98

Tax payroll Expense Reimbursements Gaming 98

CPA Practice

JANUARY 4, 2024

My new client needed a tax-smart plan to kick Uncle Sam to the curb before he was forced to take that money out of his 401(k) in the form of required minimum distributions (RMDs). Why is tax planning so important for those with $1 million or more in their 401(k)s or IRAs? Higher taxes seem to be the obvious answer.

Tax 69

Tax Start-ups Washington tax planning 69

Anders CPA

APRIL 23, 2024

For example, taxpayers may want to exercise stock options, sell appreciated assets, convert traditional IRAs into Roth IRAs or take distributions from retirement accounts. For 2024, the annual gift tax exclusion is $18,000 per person without using any of the taxpayer’s lifetime exclusion amount.

Tax 52

Tax income tax tax planning CPA 52

CPA Practice

DECEMBER 13, 2023

The West Virginia Society of Certified Public Accountants (WVSCPA) is offering an Introduction to Crypto Currency and Tax Planning. The Mississippi Society of Certified Public Accountants (MSCPA) has published the details of the MSCPA Annual Convention. The webinar, which will take place over Zoom, on January 24, 2024.

West Virginia 40

West Virginia CPA Kentucky Virginia 40

CPA Practice

JANUARY 8, 2024

My new client needed a tax-smart plan to kick Uncle Sam to the curb before he was forced to take that money out of his 401(k) in the form of required minimum distributions (RMDs). Why is tax planning so important for those with $1 million or more in their 401(k)s or IRAs? Higher taxes seem to be the obvious answer.

Tax 59

Tax Start-ups Washington tax planning 59

Withum

FEBRUARY 29, 2024

The benefit to the Dodgers under this agreement is that under the MLB’s collective bargaining agreement, the calculation of the luxury tax under a deferred agreement is based on the present value of the contract and therefore the Dodgers would save annually $24 million of his annual $70 million salary towards the luxury tax threshold.

income tax 105

income tax Tax Sports payroll 105

Withum

FEBRUARY 29, 2024

The benefit to the Dodgers under this agreement is that under the MLB’s collective bargaining agreement, the calculation of the luxury tax under a deferred agreement is based on the present value of the contract and therefore the Dodgers would save annually $24 million of his annual $70 million salary towards the luxury tax threshold.

Tax 97

Tax income tax Sports payroll 97

Anders CPA

SEPTEMBER 20, 2023

For workers who made over $145,000 in the previous year, catch-up contributions must be deposited in after-tax dollars into a Roth account. The IRS delayed the effective date for this policy, which was originally due to start in 2024 and has now been pushed back to 2026. have gone into effect. have gone into effect.

Tax 52

Tax Start-ups tax planning CPA 52

Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. You have identified the new piece of equipment your business needs, it’s worth pausing to consider the best way to structure the purchase and tax can play an important role in the determining the best option for your business. – Can we accelerate the tax relief?

Manufacturing 52

Manufacturing corporation tax chartered accountant accounting and finance 52

Withum

FEBRUARY 26, 2024

There is no better place for automotive accountants and CFOs to pack in CPE credits, networking, good food, and fun than at the AICPA Dealership Conference. It’s a chance for us to get together with our industry contacts, clients, and other accounting firms to discuss hot topics for the current year and the upcoming year.

cpas 52

cpas Tax Start-ups Sales 52

KROST

FEBRUARY 23, 2021

In a Qualified Opportunity Fund, there are three tax incentives for reinvesting capital gains which are significantly different than the 1031 exchange incentives: Recognition of capital gains are deferred until the Qualified Opportunity Fund is sold or exchanged or December 31, 2026, whichever occurs earliest.

Real Estate 52

Real Estate Delaware Tax tax planning 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

CPA Practice

JUNE 16, 2023

Estate and gift tax considerations As of 2023, individuals can currently transfer up to $12.92 million (either during your life or as part of your estate) without triggering federal gift taxes or estate taxes. 529 plan accelerated gifts. 31, 2023, based on your account balance on Dec. Harvesting capital gains.

Tax 119

Tax income tax Non-Profits Education 119

CTP

SEPTEMBER 16, 2022

TCJA (in effect for tax years 2018-2025) limited the amount of debt covered to $750,000 (or $375,000 for married couples filing separately). If the TCJA tax laws are not extended, in 2026 the limitation will go back up to $1 million. Real Estate or Real Property Tax Deduction. You might be pleasantly surprised!

tax planning 52

tax planning Tax Real Estate Education 52

CTP

SEPTEMBER 16, 2022

TCJA (in effect for tax years 2018-2025) limited the amount of debt covered to $750,000 (or $375,000 for married couples filing separately). If the TCJA tax laws are not extended, in 2026 the limitation will go back up to $1 million. Real Estate or Real Property Tax Deduction. You might be pleasantly surprised!

tax planning 52

tax planning Tax Real Estate Education 52

KROST

NOVEMBER 24, 2020

In the last few months of the year, it is important to consider year-end tax planning opportunities, as many may provide both immediate and long-lasting financial benefits. The Protecting Americans from Tax Hikes Act of 2015 made the R&D credit permanent. This year has brought unique challenges and significant change.

tax planning 52

tax planning Tax California income tax 52

ThomsonReuters

JULY 7, 2022

Once you’ve had a chance to catch your breath following the spring busy season, it’s time to remind your clients that tax planning is where you can really add value. Here are 10 midyear tax planning moves that shouldn’t be overlooked this summer. #1—Adjust Want more planning ideas? 6—Consider a reverse mortgage.

tax planning 98

tax planning Tax income tax Start-ups 98

CPA Practice

OCTOBER 18, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss how a new generation of computing will impact accounting firms. But I’m gonna get him convinced and you convinced why quantum computing and accounting is such a big deal. I hope you’re still listening, because I want to talk now about the way it works in accounting.

Technology 126

Technology Account accountant accounted 126