CPA Practice

APRIL 17, 2023

But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies. Still, the failure to recognize the importance of proper tax planning adds up. So what should business owners do?

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ThomsonReuters

DECEMBER 17, 2021

The Global Minimum Tax is the latest initiative spinning off of the Base Erosion and Profit Shifting (BEPS) initiative from the Organisation for Economic Co-operation and Development (OECD). In a recent report for Checkpoint , Robert Rizzi, a tax partner with Steptoe & Johnson LLP in Washington and New York, noted that U.S.

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Tax corporation tax Delaware Washington 52

CPA Practice

JANUARY 22, 2024

If $2 million is instead allocated to personal goodwill, then this amount is taxed to the business owner as a capital gain, resulting in a savings of over $1 million because the personal goodwill is not subject to the corporate tax rate of over 30% and is taxed at the individual level only as a capital gain.

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Tax income tax Sales cpas 98

CPA Practice

JUNE 20, 2023

There was also an option to take some or all of the credit as a lump sum when filing annual tax returns. Rosa DeLauro of Connecticut, Suzan DelBene of Washington and others would increase the size of the credit in the month a baby is born to $2,000. The new legislation from Democratic Reps. Ritchie Torres, D-N.Y.,

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