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Estate Tax Law Changes in 2026 May Impact Your Taxes A LOT—Gift Now!

LSLCPAs

The Lifetime Gift Tax Exemption is scheduled to be cut in half in 2026. The post Estate Tax Law Changes in 2026 May Impact Your Taxes A LOT—Gift Now! The post Estate Tax Law Changes in 2026 May Impact Your Taxes A LOT—Gift Now! appeared first on LSL CPAs.

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Federal Estate and Gift Tax Exemption Will Sunset After 2025: How to Prepare Now

Cherry Bekaert

Upcoming Changes to Estate Planning Laws: Start Preparing Now Elevated Gift Tax Exclusions Will Sunset after 2025 The 2017 Tax Cuts and Jobs Act (TCJA) nearly doubled the lifetime estate and gift tax exemption from $5.6 million to $11.18 million for individuals, indexed for inflation after 2018. million ($25.84

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Tax Savings for Small Business Owners: Bonus Depreciation and Section 179

xendoo

When making a major purchase for your business, you are expected to spread the tax deduction out over the lifespan of that purchase, which provides small tax savings over the years. Business owners can take advantage of Bonus Depreciation and Section 179 to invest in their businesses, resulting in an enormous tax break! .

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Extending Outsourcing Contracts Can Alleviate Shortage of CPAs

CPA Practice

The demand for accountants has steadily increased due to business growth and tax regulation complexity, while fewer students pursue accounting as a profession. Annual Replacement Employment for accountants and auditors in the US was 114,730 between 2020-2021, projected to rise to 129,627 by 2025-2026. is due to several factors.

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State CPA Society News & Updates – Dec. 2023

CPA Practice

The West Virginia Society of Certified Public Accountants (WVSCPA) is offering an Introduction to Crypto Currency and Tax Planning. The webinar is free for West Virginia Society of CPAs members, who can register here. Taking place on January 31, 2024, the conference is directed at tax professionals that advise nonresidents with U.S.

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Key Takeaways From the 2023 AICPA Dealership Conference

Withum

The CPAs at Withum always look forward to this event in Las Vegas in October after deadlines have settled. Fraud Prevention, Detection, and Investigations in Dealerships Presentation Recap The call all CPAs dread from clients is this call. Physical address Signed W-9 Compare vendor addresses with those of current and former employees.

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AICPA Comments on Changes to Section 162(m) of American Rescue Plan Act of 2021

CPA Practice

The American Institute of CPAs (AICPA) has submitted comments to the Department of the Treasury and Internal Revenue Service (IRS) related to changes made to section 162(m) by the American Rescue Plan Act of 2021 (ARPA).

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