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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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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.