article thumbnail

Construction Industry Tax Planning Tips for 2023 Year-End

Anders CPA

While some provisions are expiring, new regulations and updated rulings introduced by the CARES Act and the Inflation Reduction Act (IRA) will impact entity conversions, deductions and accounting methods for the construction industry. View the 2023 Tax Planning Opportunities for the Construction Industry report from Anders and CICPAC.

article thumbnail

Corvee Adds Augusta Rule Deduction Guidelines for Home Rentals to Tax Planning System

CPA Practice

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. Instead and Instead Pro offer seamless Augusta Rule savings estimation to help plan, calculate, document and file a return.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Tax Planning Software – Artificial Intelligence or Skill Saw?

CTP

Have you asked yourself, do I really have to study tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software! By Dominique Molina, CPA MST CTS.

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

Tax Planning Software – Artificial Intelligence or Skill Saw?

CTP

Question : How much time should I devote to studying tax planning? The answer to this question may be a similar situation to a semi-regular TikTok viewer of DIY household construction projects. The same is true for tax planning software. By Dominique Molina, CPA MST CTS. There are many choices out there.

article thumbnail

Estate and Gift Taxes – Plan Now for Reduced Exemption in 2026

Dent Moses

Estate planning is not a one-time event; it’s an ongoing process that should adapt to changes in life, business, and tax laws to achieve the best outcomes for your family and assets. The post Estate and Gift TaxesPlan Now for Reduced Exemption in 2026 appeared first on Dent Moses, LLP.

article thumbnail

Year-End Tax Planning Considerations for Property Owners in Light of Bonus Depreciation Phase Out

Withum

QIP excludes elevators, structural modifications, or any enlarging construction work. These are all items eligible for bonus depreciation and can result in tax savings and increased cash flow. An advantage of planning early is avoiding delays caused by recent production trends. Many tenant improvements fit into this category.