Menzies

AUGUST 6, 2025

Continuing work to provide individual taxpayers with a view of their overall income and tax position in their digital account – building on work from the Single Taxpayer Account Programme.

tax return

Withum

JULY 8, 2025

The second change increases the cumulative per-issuer gain limit from $10 million to $15 million, indexed for inflation beginning in 2027. Last, the OBBBA increases the limitation ceiling on a corporation’s “aggregate gross assets” from $50 million to $75 million, indexed to inflation beginning in 2027.

Tax

Withum

JUNE 17, 2025

The SFC proposal would increase the cumulative per-issuer gain limit from $10 million to $15 million, indexed for inflation beginning in 2027. The SFC proposal would increase the limitation ceiling on a corporation’s “aggregate gross assets” from $50 million to $75 million, indexed to inflation beginning in 2027.

New Jersey

Withum

JULY 10, 2024

The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes. SB 167 suspends the net operating loss (NOL) deduction for tax years beginning on or after Jan. 1, 2024, and before Jan. Beginning Jan.

California

TaxConnex

JUNE 9, 2022

1 until September 2027. California manufacturers want the state to halt taxes on the purchase of new equipment, saying those taxes are hobbling the industry as manufacturers aim to modernize production as supply chain issues continue. For gross receipts from the sale of newly taxed services prior to Jan.

Sales

Withum

JANUARY 16, 2024

The framework would extend 100 percent bonus depreciation for qualified property placed in service after December 31, 2022, and before January 1, 2026. For property place in service after December 31, 2025, and before January 1, 2027, bonus depreciation would remain at 20%. For the 2023 taxable year, a 179 expense of $1.16

Tax

Anders CPA

NOVEMBER 21, 2023

First-year bonus depreciation was previously always set at 100% but began sunsetting in 2023 and will continue to decrease by 20% each year until it eventually reaches zero in 2027. They should then consult a tax professional to accurately determine if they qualify for QBI and any specific deductions or credits associated with it.  

tax planning

Withum

NOVEMBER 17, 2022

Geography, such as distressed zones, enterprise zones, or tax-increment finance districts. Contact a member of Withum’s Tax Services Team to start planning as year-end approaches. Year-End Tax Planning for Businesses. The corporate tax rate is currently a flat 21% rate. Energy credits. Not-for-profits.

tax planning

Withum

JANUARY 25, 2023

Based on the current legislation, bonus depreciation will continue to decrease by 20% each year until it is no longer available starting in the 2027 taxable year. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. And it does not get better after that.

Tax

Cherry Bekaert

FEBRUARY 2, 2024

trillion by 2027, according to data published by Preqin 2. For much of its existence, audit and tax services have created an insulated environment with high barriers to entry, resulting in steady, but not exactly transformative, growth. The global private credit market has grown to more than $1.5

accounting and finance

Withum

JULY 26, 2023

Under current law passed under TCJA, there is a reduction of bonus depreciation to 80% in 2023 and a decrease of 20% each year until it is no longer available starting in the 2027 taxable year. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax

Withum

AUGUST 17, 2022

Placed in Service Date Critical Minerals Requirement Battery Components Before January 1, 2024 40% 50% During 2024 50% 60% During 2025 60% 60% During 2026 70% 70% During 2027 80% 80% During 2028 80% 90% After 2028 80% 100% Critical Mineral and Batter Component Requirements Based on Service Date. Contact Us. Let’s Chat.

Tax

Withum

AUGUST 17, 2022

Placed in Service Date Critical Minerals Requirement Battery Components Before January 1, 2024 40% 50% During 2024 50% 60% During 2025 60% 60% During 2026 70% 70% During 2027 80% 80% During 2028 80% 90% After 2028 80% 100% Critical Mineral and Batter Component Requirements Based on Service Date. Contact Us. Let’s Chat.

Tax

Withum

FEBRUARY 20, 2025

The following chart shows examples of the general codes covered by each category and the tax rates for 2025-2026 for each. They are scheduled to increase in 2027 and 2028. The Homelessness Gross Receipts Tax (HGRT), an additional tax for larger businesses, will now apply to more Companies.

Tax

Accounting Insight

MARCH 27, 2025

Can I outsource other personal tax work? HMRC expects around 2 million taxpayers will use the MTD IT service by 2027. This means another 10 million taxpayers will still need to submit self-assessment tax returns in the usual way by 31 January after tax year-end.

income tax