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New York Governor Signs 2025-2026 Budget That Includes Business Tax Hikes

Withum

Payroll Mobility Tax Hike The Metropolitan Commuter Transportation Mobility Tax (MCTMT) rate is increased for employers with more than $10 million in payroll. However, certain smaller employers will receive a 50% reduction in their payroll taxes. However, like most temporary tax hikes, it looks to be permanent.

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Trump Wins 2024 Presidential Election: Impact on Federal Tax Reform

Withum

President Trump has also suggested a further reduction in the corporate federal income tax rate from 21% to 20%, or even 15% for U.S. In addition, reconciliation is not typically used to change discretionary spending, including non-defense outlays such as certain veteran benefits, education, and transportation. manufacturers.

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Using an Income Tax Preparation Service: Is It Worth the Cost?

MyIRSRelief

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

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20 Small Business Tax Deductions You Need to Know

xendoo

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance .

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State and Local Tax (SALT) Predictions for 2024

CPA Practice

We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. What is income tax? How does income tax work? Who has to file income tax?

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Small Business Tax Deductions Checklist: All You Need to Know About Tax Deductions

Snyder

In this article, you’ll learn what tax deductions are, which expenses are deductible, and how to minimize the risks of the IRS tax audit. What exactly are tax deductions? How to claim small business tax deductions 2. 12 tax deductions that apply to small businesses 3. What is a 100% tax deduction?