Cherry Bekaert

MAY 6, 2024

By reinvesting the proceeds from a property sale into a Qualified Opportunity Fund (QOF) within 180 days, investors can defer tax on the original gain until December 31, 2026, or until the investment is sold, whichever comes first.

Real Estate 52

Real Estate Delaware Tax tax return 52

Anders CPA

MAY 25, 2023

Emergency Savings Accounts   Plan sponsors have been granted permission to add an emergency savings account to their retirement plan, which must be designated as an after-tax account. SECURE Act 2.0 that plan sponsors should evaluate thoroughly to ensure compliance with its guidelines. SECURE Act 2.0

Education 52

Education audit Tax income tax 52

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

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

ThomsonReuters

JUNE 10, 2021

toward health or other benefits including paid leave starting in 2026. However, for persons who live out of state, but previously commuted to Vermont and now live and work outside of Vermont, the income earned while at home is not Vermont income (even though the employer is still located in Vermont), and is not subject to Vermont income tax.

payroll 98

payroll Vermont Tax Connecticut 98