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Financial vs Tax Accounting

SMBAccountant

According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations. Financial accounting uses generally accepted accounting principles (GAAP).

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2022 Federal Budget Highlights

DMCL

The tax credit rates are 60% for eligible capture equipment used in a direct air capture project, 50% for all other eligible capture equipment and 37.5% for eligible transportation storage and use equipment with lower tax credit rates applicable from 2031 to 2040. Introduction of the Critical Mineral Exploration Tax Credit (CMETC).

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Friday Footnotes: A World Without Accountants; GAO Finds a Big Mistake; ‘Fazbie’ | 8.5.22

Going Concern

Meet the accountants who may become the new power brokers of taxes. [ Plante Moran names 29 new partners [ Consulting.us ] Plante Moran, a Southfield, MI-headquartered accounting and consulting firm, has promoted 29 people to partner. The revolution will not be televised, it will be in Reddit text posts : The I.R.S.

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