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Ethical Concerns in Using Tax Planning Software

CTP

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. Artificial intelligence in accounting software is bringing new ethical challenges for professionals, their clients, and the public at large.

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How Biden’s Proposed Tax Bill Will Affect Small Businesses

SingleTrackAccounting

The new presidential administration has proposed a large new tax bill to offset other priorities such as improving infrastructure, funding the American Rescue Plan, combating employment inequality and tackling climate change. These are expected to be financed with increased taxes targeted at high income brackets and corporations.

Tax 52
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Fiscal Year 2023 Revenue Proposal: How Does the Biden Administration’s Proposal Impact the Real Estate Industry?

KROST

Tax Long-Term Capital Gains at the Ordinary Income Rate. Under current tax law, long-term capital gains and qualified dividends are taxed at a maximum income tax rate of 20%. This means that the tax rate for such gain can go up to 37% or potentially to 39.6% Tax Depreciation Recapture At Ordinary Income Rate.