Withum

JULY 22, 2025

The new legislation increases the cap from $10,000 to $40,000, with further increases of 1% each year beginning in 2026, but then reverting to $10,000 in 2030. Let’s Chat The post The One Big Beautiful Bill Act May Create Confusion for State Income Taxes appeared first on Withum.

income tax

Menzies

AUGUST 6, 2025

HMRC say that by 2030, almost all of the “straightforward queries” will be handled digitally or automatically. 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

APRIL 8, 2022

The current House Bill would increase the required minimum distribution age to 73 starting on January 1, 2023, and further increase the age to 74 beginning on January 1, 2030, and 75 starting on January 1, 2033. If the House Bill is passed, a careful review of one’s retirement portfolio should take place with their financial and tax advisor.

income tax

Going Concern

SEPTEMBER 27, 2024

Eighty-six percent of controllers believe their role will change “dramatically” by 2030, according to a report by Big Four firm Ernst & Young released Wednesday. The firms are the following: Accell Audit & Compliance, P.A.

audit

Withum

MAY 13, 2025

However, this could be adjusted upon Senate review, as the Senate adjusted a similar provision under the Tax Cuts and Jobs Act, limiting adjusted taxable income to EBIT for certain years. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax

Withum

MAY 13, 2025

However, this could be adjusted upon Senate review, as the Senate adjusted a similar provision under the Tax Cuts and Jobs Act, limiting adjusted taxable income to EBIT for certain years. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax

Withum

FEBRUARY 26, 2025

In the last few years, we have also seen a reduction in corporate income tax rates in 13 states. Georgia, Idaho, Kansas, Missouri, North Carolina, Oklahoma, Pennsylvania, and Utah have lowered their flat income tax rates, with North Carolina moving to a 0% rate by 2030. appeared first on Withum.

income tax