Withum

AUGUST 8, 2023

Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked to hear how significantly their federal tax bills are increasing for the 2022 taxable year even when their earnings remain the same.

New York 96

New York income tax Manufacturing financial statements 96

Withum

MARCH 12, 2024

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post Cannabis Tax Frenzy appeared first on Withum. This article was originally published by Daniel Mayo in Forbes on March 4, 2024.

Tax 119

Tax tax return Legal Manufacturing 119

Withum

JUNE 6, 2022

It enters into exclusive distribution agreements with the manufacturers of the drugs, but it does not manufacture any drugs itself. Recall that if a trade or business is not within an exclusion, then it is a QTB and thus eligible for an exclusion if the other QSBS requirements are met. Business Tax Services.

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Tax income tax Pharmaceutical Manufacturing 126

Withum

AUGUST 11, 2022

The overall credit can be increased by an additional 10% after applying the increase for efficiency or wage and apprenticeship requirements if it can be certified that the steel, iron, or manufactured produce which is a component of such facility was produced in the United States. Contact Us. Let’s Chat.

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xendoo

APRIL 3, 2023

For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. Which should you claim to get the most tax savings? You might be unaware that you qualify for multiple credits that will lower your total tax burden significantly.

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xendoo

APRIL 3, 2023

For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. Which should you claim to get the most tax savings? You might be unaware that you qualify for multiple credits that will lower your total tax burden significantly.

Tax 52

Tax tax preparation business tax income tax 52

inDinero Accounting

DECEMBER 5, 2023

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. Table of Contents What is the QSBS Exemption?

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Withum

SEPTEMBER 2, 2022

A qualified commercial clean vehicle must be acquired for use or lease by the taxpayer from a qualified manufacturer. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. The post Is It Time for Businesses To Invest in Electric Vehicles? Contact Us.

Construction 80

Construction Manufacturing Tax Government 80

Withum

AUGUST 17, 2022

The Inflation Reduction Act of 2022 signed into law by President Biden on August 16, 2022 includes significant changes related to electric vehicle tax credits. The proposal also requires the clean vehicle to be purchased from a qualified manufacturer and have a gross vehicle weight of less than 14,000 pounds. Credit Phaseout.

Tax 52

Tax income tax Manufacturing tax return 52

Withum

JULY 26, 2023

No credit is allowed unless all the components contained in the battery were manufactured or assembled in North America. On the Democratic side, there is still a strong desire to expand the child tax credit. Senate Finance Committee Chair Ron Wyden (D-OR) said business tax provisions must be paired with provisions helpful to children.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

OCTOBER 12, 2022

In a simple example, assume a foreign manufacturer is a common parent, falls under the definition of a foreign-parented multinational group and has AFSI of $2 billion. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Contact Us. Let’s Chat.

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financial statements Tax income tax Manufacturing 69

Withum

AUGUST 11, 2022

When trying to understand whether the Superfund Excise Tax is applicable, companies must decipher whether the substance is deemed a taxable chemical under §4661 or a taxable substance under §4672. The IRS provides three acceptable approaches when determining the excise tax imposed on imported §4672 taxable substances. Contact Us.

Tax 72

Tax Manufacturing tax return Sales 72

Going Concern

NOVEMBER 10, 2023

Errors made by the academics included failing to identify the correct firm as the auditor — both Deloitte and KPMG had been named as auditors of entities that are audited by PwC — and there were scandals manufactured in the artificial intelligence output. One customer says their business tax documents haven’t been filed since 2019.

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Withum

JULY 26, 2023

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. This article was originally published by Lynn Mucenski-Keck in Forbes on June 23, 2023. Let’s Chat The post Cash Infusion for Clean Energy Initiatives appeared first on Withum.

Tax 52

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