Withum

JUNE 6, 2022

The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. Conversely, if the business is not a QTB, then the shareholder will owe federal income tax of roughly $2,380,000 ($10 million times 23.8%). Business Tax Services. Contact Us.

Tax 127

Tax income tax Pharmaceutical Manufacturing 127

Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

business tax 119

business tax Tax income tax tax return 119

Withum

DECEMBER 23, 2023

While all this start and stop is understandable in a deeply divided Congress, business owners remain stuck with dysfunctional tax law that is forcing them to make high, unexpected tax payments on their research and experimental (“R&E”) expenditures while paying 20-year high-interest rates to finance their increasing tax bills.

Pharmaceutical 52

Pharmaceutical Tax accounting and finance income tax 52

CPA Practice

FEBRUARY 8, 2023

Collectively, the professionals joining Andersen deepen the firm’s expertise serving high net worth individuals, families, and businesses across a range of industries, including real estate, manufacturing, construction, professional services, hospitality, entertainment, technology, retail, financial planning, and agriculture.

Real Estate 52

Real Estate Agriculture Iowa income tax 52