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

Withum

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. Energy-Efficient Commercial Buildings Deduction No longer applies to property construction after June 30, 2026. In addition, applies restrictions to prohibited foreign entities.

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2025 Tax Reform Highlights – What you need to know about the “One Big Beautiful Bill Act”

CapataCPA

The Act extends and enhances several key provisions from the 2017 Tax Cuts and Jobs Act (TCJA), revises energy-related incentives introduced in the Inflation Reduction Act (IRA), and introduces entirely new tax measures across multiple industries. Below is a summary of the most notable updates that may impact you or your business.

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Top Remote Accountants of the Week | November 7, 2024

Going Concern

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #23571431 Certifications: CPA in process Education: BBA Accounting, MA Accounting Experience (years): 5+ years of accounting and tax experience Work experience: All in public accounting Performs full cycle accounting and tax preparation Financial compilations and reporting with clients (..)

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Year-End Tax Strategies for Businesses

Withum

in the 2024 taxable year in immediate deductions to encourage the construction of energy-efficient buildings. Contractor Energy Efficient Home Credit (MODIFIED) – The maximum credit allowable to contractors for the construction of new energy-efficient homes was increased from $2,000 to $5,000. per square foot (sq.

Tax
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Top Remote Accountants of the Week | January 17, 2025

Going Concern

Insurance, Beverage, Professional Services, Medical Practices Tech Stack: TaxSlayer, UltraTax Remote Work Experience: Y Salary: $75-$85k Timezone: Eastern Sign up for FREE to learn more about this candidate FTE Tax Senior / Manager | Candidate ID #5306426 Certifications: IRS CCA, CPA CA Education: BA Accounting, MS Accountancy Experience (years): (..)

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Senate Reconciliation of Beautiful Bill: Key Changes in Latest Draft

Insightful Accountant

Wind and solar projects must now be placed in service by 2028 to qualify for the section 45Y clean energy production credit, tightening the timeline from the previous requirement of merely beginning construction by that date. A residential construction accounting exception was also added to the community development section.

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Key Provisions of the One Big Beautiful Bill Act

Dent Moses

Among its major provisions, The Act offers deductions to eliminate income taxes on certain tips and overtime pay, enhances small business tax relief, and repeals numerous clean energy tax incentives. Residential Construction: Exempts certain residential projects from percentage-of-completion accounting.