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Year-End Tax Planning Strategies for Businesses to Prepare for 2024 

Anders CPA

Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Consulting with a trusted tax professional to determine your eligibility for certain deductible activities is the best way to maximize your tax savings.

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Bipartisan Senate Tax Plan Would Expand Credits for Businesses, Children, and Low Income Housing

CPA Practice

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. Wyden, D-Ore., and Smith, R-Mo.,

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Top 5 Tax Planning Tips for Manufacturers in 2024

Anders CPA

The end of the Tax Cuts and Jobs Act (TCJA) and the introduction of the Inflation Reduction Act (IRA) have ushered in a new era of tax credits and incentives for the manufacturing industry. Some states have also reinstated state-level R&D tax credits for businesses.

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Year-End Tax Planning Considerations for Property Owners in Light of Bonus Depreciation Phase Out

Withum

The real estate industry has gotten very comfortable with the luxury of having 100 percent bonus depreciation on certain asset classes since it was re-enacted by the Tax Cuts and Jobs Act on September 27, 2017. These are all items eligible for bonus depreciation and can result in tax savings and increased cash flow. Contact Us.

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Why Opportunity Zones Are a Good Investment in 2024

CPA Practice

By Daniel Goodwin, AWMA, Kiplinger Consumer News Service (TNS) Opportunity zones, created by the Tax Cuts and Jobs Act, were designed to spur economic development and job creation in specific communities and census tract areas, while simultaneously providing substantial tax incentives for investors. How do opportunity zones work?

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Key Takeaways From the 2023 AICPA Dealership Conference

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Journal entry approval Tax Updates for Dealers Always a well-attended session is the tax update, where accountants and CFOs alike look to kick tax planning into gear for the upcoming year. Included in the newest tax package are the following: Employee Retention Credit Elimination: With every tax relief bill comes costs.

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The Technology Lab Podcast – Tech Predictions for 2024 – Dec. 2023

CPA Practice

Randy Johnston and Brian Tankersley, CPA, talk about the technology changes and new products they expect to see in the coming year. Intro: Welcome to the technology lab presented by CPA Practice Advisor with your hosts, Randy Johnston and Brian Tankersley. And then having pulled the plug on the on the on vo tax platform.