inDinero Tax Tips

SEPTEMBER 13, 2023

brought is modified catch-up contributions for retirement accounts. This expansion allows individuals aged 50 or older to stash more in their retirement accounts. Starting from 2024, these catch-up contributions must be deposited into Roth accounts. Modified Catch-Up Contributions Another change the SECURE Act 2.0

business tax 80

business tax Tax Start-ups accounting and finance 80

Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

income tax 80

income tax Tax accounting standards accounting and finance 80

Inform Accounting

NOVEMBER 18, 2022

The R&D tax relief is changing from 130% to 86% and the SME credit rate will decrease from 14.5% This takes effect from the Autumn Finance Bill 2022. From April 1st 2023 business rates will be reevaluated to take account of a rise in property values since 2017. Remember to declare COVID-19 grants on your tax return.

Tax 52

Tax income tax tax return corporation tax 52

KROST

NOVEMBER 24, 2020

These two incentives can provide significant tax relief in 2020 if financed and placed in service by midnight, December 31, 2020. A “designated census tract” is a census tract determined by the Department of Finance to be in the top 25% of California census tracts in terms of civilian unemployment and poverty rates.

tax planning 52

tax planning Tax California income tax 52

Withum

JULY 26, 2023

Instead, the Act would allow taxpayers to currently deduct research and experimental expenditures that are paid or incurred in tax years beginning after December 31, 2021, and before January 1, 2026. Taxpayer can elect to apply the broadened base to the 2022 taxable year or apply the broadened base to tax years starting in 2023.

Tax 52

Tax income tax Manufacturing accounting and finance 52