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Budget Addresses Key Changes to Agricultural Property Relief

Menzies

New Tax Rules for Larger Farms The changes introduced mean that agricultural relief allowing land or pasture to be used to grow crops, or to rear animals, will be scrapped for farms worth more than 1m. For businesses or agricultural property, a 50% relief will now apply to those that exceed the 1m threshold. Have more questions?

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Congress Passes One Big Beautiful Bill – President to Sign on July 4

Withum

Defines “qualified production property” to include any portion of nonresidential real property used as an integral part of qualified manufacturing, agricultural or chemical production, or refining of a qualified product. Applies to property placed in service after the date of enactment of the Bill, but before January 1, 2031.

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Understanding Key Definitions and Reporting Requirements Under Regulation C for HMDA Reporting Purposes

Anders CPA

Primarily for Agricultural Purpose : Loans used primarily for agricultural purposes or secured by a dwelling that is located on real property that is used primarily for agricultural purposes are not HMDA reportable. This typically includes construction-only loans.

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U.S. sales tax requirements for Canadian sellers

TaxConnex

Certificates are usually state-specific, and some industries, such as manufacturing and agriculture, have many sales tax exemptions. Exemption certificates are generally either entity-based (such as for resellers and not-for-profit) or product-based. To prove a sales tax exemption, the customer must provide a certificate.

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Top Remote Accountants of the Week | December 19, 2024

Going Concern

TAX CANDIDATES FTE Tax Senior | Candidate ID #23636747 Certifications: EA Education: BS Experience (years): 5 years tax experience Work experience (detail): All in public accounting 5 tax seasons preparing returns for HNWIs and SMBs 300+ returns per season, 50-50 individuals, businesses Client-facing with S-Corps, partnerships, trusts Business development (..)

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Tech news: TaxPlanIQ adds new features

Accounting Today

Other news Accounting platform Sage and Village Capital announced the winners of $170,000 in grants awarded to six startups from the inaugural cohort of the Sage Impact Entrepreneurship Program. Time tracking platform Laurel has raised $100 million in Series C funding led by IVP, with participation from GV (Google Ventures).

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Top Remote Accountants of the Week | October 17, 2024

Going Concern

ACCOUNTING CANDIDATES FTE Accounting / Bookkeeping | Candidate ID #18014117 Certifications: QBO ProAdvisor, Xero Certified Education: BA, MBA Accounting Experience (years): 9+ years accounting experience Work experience (detail): Currently a Senior Bookkeeper/Team Lead with a public firm 5+ years managing outsourced accounting for multiple clients (..)