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Fuel Up the Bus, PwC Australia Has Named and Shamed Eight Partners Tied to the Tax Leak Scandal

Going Concern

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not.

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FAQs on Tax Treatment for COVID Relief Programs

Withum

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. Q7: When do I report the tax-exempt income relating to PPP loan forgiveness?

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Tax Deductions Guide 2021

inDinero Tax Tips

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

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Why Millennial SMB Owners Need Faster Tax Disbursements

PYMNTS

The joys of tax season: complex paperwork, long wait times and check disbursements. Many United States consumers are still reliant on paper checks when it comes to receiving their tax refunds, which represents the largest sum of money many of them will receive at one point during the fiscal year.

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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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Gross vs. Net Income: What Employers Should Know For Tax Time

inDinero Tax Tips

However, gross vs net income is slightly different for tax purposes depending on whether you’re an employer or an employee: Employers pay tax on net income Employees pay tax on gross income Because the law requires employers to withhold taxes from employees, business owners need to keep both perspectives in mind.

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2022 Year-End Tax Planning Checklist

Withum

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.