article thumbnail

Ethical Issues in Tax Planning: Conflicts of Interest

CTP

What does it look like to operate ethically in the world of tax planning? Say the company itself wants to hire you to do its yearly tax plan. How do you decide how to construct the business’ tax plan? Depending on your status and credentials, adhering to Circular 230 may even be a requirement.

article thumbnail

Bipartisan Senate Tax Plan Would Expand Credits for Businesses, Children, and Low Income Housing

CPA Practice

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. Wyden, D-Ore., and Smith, R-Mo.,

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Business Tax: Property matters

Menzies

Businesses operating within the property and construction sector may have specific needs and requirements that are not commonly found in other sectors. This may include for example complying with the Construction Industry Scheme.

article thumbnail

Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon. This article dives deep into the critical role of tax professionals for small businesses.

Tax 130
article thumbnail

Finding Your Financial Compass: Why Small Businesses in Los Angeles Thrive with Specialized Tax and Accounting Support

MyIRSRelief

By providing a combination of tax planning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. Get business tax & bookkeeping help by contacting us today!

Tax 130
article thumbnail

Sikich Goes Shopping in Cleveland, Acquires Thornhill Financial

CPA Practice

Founded in 1995, Thornhill Financial provides tax, audit, and advisory services to companies across industries, including manufacturing, construction, and private equity. Offerings include both individual and business tax planning and compliance, employee benefit plan audits, restructuring, cash flow planning, and estate planning.

Ohio 52
article thumbnail

The Tax Break Commercial Real Estate Investors Might Need After COVID-19

Withum

QRPBI is debt that is incurred or assumed by the taxpayer in connection with real property used in a trade or business and is secured by such property. For property acquired on or after January 1, 1993, QRPBI includes debt used to acquire, construct, reconstruct, or substantially improve real property. Business Tax Services.