ThomsonReuters

DECEMBER 19, 2023

Jump to: What environmental tax breaks are available? Helping your clients with claiming environmental tax credits As sustainability initiatives gain momentum, the IRS continues to encourage environmentally conscious actions through a range of tax incentives. What environmental tax breaks are available? 

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ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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ThomsonReuters

JUNE 15, 2022

The foundation of a successful tax practice rests on the technical knowledge of your people. While you can create a modern firm with automated processes and expansive service offerings, your clients won’t keep coming back if your team isn’t up to speed with the most recent tax law changes. When do tax law changes take effect?

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Withum

JUNE 6, 2022

It enters into exclusive distribution agreements with the manufacturers of the drugs, but it does not manufacture any drugs itself. This second point is particularly helpful to selling shareholders who want clarity on whether their business is a QTB so they can calculate how much tax will be due on their sale of stock.

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ThomsonReuters

DECEMBER 19, 2023

How to claim energy efficient tax credits from ENERGY STAR Staying up to date with energy efficient tax credits As the world increasingly embraces sustainable practices, energy efficient tax credits serve as powerful tools to motivate individuals and businesses to adopt eco-friendly measures. What is ENERGY STAR?

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Ronika Khanna CPA,CA

MARCH 29, 2024

For tax purposes the amount is treated as a capital outlay and included in Class 12 for CCA purposes. For further fun reading on the subject, below are links to Tax Court of Canada cases that specifically deal with the deductiblity of clothing, business suits, accessories and dress clothes: Rail v.

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Withum

JULY 26, 2023

The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments. trillion over ten years.

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Ronika Khanna CPA,CA

FEBRUARY 9, 2024

While there are numerous payroll software that handle the filing of the T4 and RL1 slips , the RL1 summary is usually left to the employer (and/or their accountants) to file. However, most accounting software, will only produce a non official summary report that then has to be transcribed onto the actual form which can then be mailed.

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Going Concern

NOVEMBER 10, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Note: We’re skipping Footnotes next Friday to unveil a surprise. Footnotes will return as scheduled on November 24.

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ThomsonReuters

MAY 10, 2022

After more than 25 years, excise taxes on a specified list of chemicals and imported hazardous substances in the U.S. The newly reinstated excise tax compliance obligations can be expected to affect multiple functional areas of a company including Procurement, Finance, Tax, Environmental Regulatory Departments, and Information Technology.

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inDinero Accounting

DECEMBER 5, 2023

The Qualified Small Business Exemption (QSBS exemption) can shield up to $10 million, and sometimes more, of stock appreciation from capital gains tax. The rules are complex but worth understanding; there are substantial tax savings to be had by claiming this rare exemption. Table of Contents What is the QSBS Exemption?

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KROST

JULY 15, 2021

The Technology Issue highlights some of the hot topics in the technology industry including Client Accounting Services (CAS), Nonfungible Tokens, the Effect of Upcoming Changes to IRC Section 174 on the Software Development Industry, and more. Tax , Tax Specialty Services , Mergers & Acquisitions , Technology Industry.

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Snyder

MAY 31, 2022

Operating a business requires managing a lot of different tasks and expenses. From advertisements and purchasing additional supplies to covering business taxes, every expense has to be accounted for. An expense report is a record of expenses incurred by a business. Be ready to deal with taxes as well.

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KROST

NOVEMBER 24, 2020

In the last few months of the year, it is important to consider year-end tax planning opportunities, as many may provide both immediate and long-lasting financial benefits. We have compiled a checklist of additional actions based on current tax rules that may help you save tax dollars if you act before year-end.

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Withum

JULY 26, 2023

The intent of IRC Section 6418, was to increase participation in clean energy initiatives by allowing taxpayers to sell credits without engaging in complicated tax structures. An eligible taxpayer can transfer any portion of an eligible credit on its original tax return. The ability to transfer (i.e. Who can make a transfer election?

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