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What to Know about Tax Savings in the Inflation Reduction Act

CPA Practice

In fact, this particular legislation may help many more of your clients than CPAs realized when it was first passed in August 2022. Yet, in this case, identifying them is worth the time and effort since they can make a big difference in tax filings for eligible homeowners and business property owners.

Tax 105
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Tax Tips for the 2024 Filing Season from the AICPA

CPA Practice

As taxpayers navigate the challenges of tax season, the American Institute of CPAs (AICPA) wants individual filers to be aware of what’s new for this filing season: Standard deduction increases : the standard deduction amount for 2023 has increased for all taxpayers. Solar energy credit : this credit amount has increased to 30%.

Tax 96
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Tax Tips for the 2024 Filing Season from the AICPA

CPA Practice

As taxpayers navigate the challenges of tax season, the American Institute of CPAs (AICPA) wants individual filers to be aware of what’s new for this filing season: Standard deduction increases : the standard deduction amount for 2023 has increased for all taxpayers. Solar energy credit : this credit amount has increased to 30%.

Tax 117