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Upcoming Tax Issues Facing Dealerships That Need To Be Addressed Now

Withum

The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

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6 Trends That Are Shaping the Future of Tax and Accounting

Accounting Insight

These trends will lead to an increased interest among tax and accounting firms to outsource tax preparation services to free up staff time to focus on higher-value work. The EU will require green energy and carbon footprint financial reporting in 2023, and the US will require it by 2026.

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