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

Anders CPA

MAY 25, 2023

Provisions Effective January 1, 2024 Aged-Based Catch-Up Contributions   Update Currently, catch-up contributions can be made on either a pretax basis or an after-tax basis if they are permitted by the plan. requires their catch-up contributions to be treated as after-tax contributions. SECURE Act 2.0

Education

CPA Practice

AUGUST 19, 2024

The Tax Increase Prevention and Reconciliation Act of 2005 repealed the MAGI limitations for IRA conversions to Roth IRAs, effective for tax years beginning after 2009. However, the Tax Cuts and Jobs Act of 2017 repealed this ability, reflecting shifting governmental attitudes toward IRAs.

Tax

Cherry Bekaert

MAY 6, 2024

Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. By deferring capital gains taxes, sellers can potentially reduce their tax burden and reinvest in new opportunities.

Real Estate

Menzies

SEPTEMBER 27, 2024

Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account. Drivers – for tax authorities The advantages of e-invoicing and real-time VAT data for tax authorities are clear.

chartered accountant

Menzies

SEPTEMBER 27, 2024

Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account. Drivers – for tax authorities The advantages of e-invoicing and real-time VAT data for tax authorities are clear.

chartered accountant

Menzies

SEPTEMBER 27, 2024

Often these E-Invoices are issued via a central interface (often government managed) to legitimise the invoice and automatically store it within both the issuing and receiving entity’s tax account. Drivers – for tax authorities The advantages of e-invoicing and real-time VAT data for tax authorities are clear.

chartered accountant

ThomsonReuters

JUNE 10, 2021

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Biden Administration issues tax proposals “Green Book.” The Department of the Treasury has issued detailed information about the Biden Administration’s tax proposals for fiscal year 2022 in its “ Green Book.”

payroll

Shay CPA

NOVEMBER 13, 2024

In 2017, the Tax Cuts and Jobs Act (TCJA) brought sweeping changes to U.S. tax law — but not all of them were permanent. What’s changing If nothing changes and the TCJA expires on January 1, 2026, taxation across the country will change in a number of ways. Income tax rate changes. SALT deduction cap expiration.

Tax