CTP

MARCH 9, 2022

Visit social media or google these days and you’ll most likely see advertisements for Tax Planning. But many taxpayers (and even tax pros) are confused about the differences between tax planning and tax preparation. Why is it impossible to do tax planning at the same time as you prepare a tax return?

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Withum

NOVEMBER 17, 2022

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.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. Are you really doing everything you can to reduce your tax burden? How are S corporations taxed? When are S corps taxes due?

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Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules.

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Accounting Today

MAY 17, 2024

The Club for Growth Foundation, whose members have sparred with Trump advisors on economic policies, says its corporate tax cut plan — as well as a corresponding push for deregulation — are aimed at bolstering U.S. manufacturing.

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Accounting Today

MARCH 7, 2024

President Joe Biden will propose increasing the minimum tax rates paid by major U.S. and multinational corporations to 21% and eliminating breaks for companies with high-paid executives in his election-year State of the Union address on Thursday night.

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ThomsonReuters

MAY 7, 2021

How to mitigate risks with tax software. Corporate tax teams are facing an array of risks, new and old, that complicate their ability to deliver an accurate and defendable tax provision within an ever-shrinking financial close window. What challenges does your tax department face? Leverage clean data.

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FusionCPA

NOVEMBER 24, 2020

It's that time of the year again where businesses are preparing their end-of-year tax. Corporate income tax is the third largest source of revenue for the federal government. While the amount collected for corporate income tax pales when compared to individual income tax or payroll tax, it still accounts for 1.1

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MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

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ThomsonReuters

NOVEMBER 12, 2021

Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically.

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CPA Practice

MAY 9, 2024

Erik Wasson Bloomberg News (TNS) The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under President Donald Trump has expanded to $4.6 Extending the personal income tax cuts will cost $3.8 Extending the personal income tax cuts will cost $3.8 trillion alone.

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CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. 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.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. What an Effective Tax System Looks Like.

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Accounting Today

MAY 18, 2022

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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ThomsonReuters

APRIL 21, 2024

For corporate tax professionals, navigating the ever-evolving landscape of tax codes and regulations is often a daunting task. This straightforward task becomes a monumental challenge when dealing with complex tax codes, global operations, and time constraints. To illustrate the scale of the challenge, in the U.S.

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ThomsonReuters

OCTOBER 24, 2023

Data is king in today’s fast-paced world of finance and tax. Yet, for many companies, the journey of data from disparate sources to financial close, tax returns, and reporting can be torturous. Fortunately, tax departments are not powerless. based CFO Consultants, in a blog post. based CFO Consultants, in a blog post.

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ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

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ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. Other deadlines are: January 17, 2022 : 4th quarter 2021 estimated tax payment due.

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Wellers Accounting

JANUARY 22, 2024

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your liability.

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CTP

NOVEMBER 16, 2021

As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company, since what is advantageous for one is often disadvantageous for the other. On top of that, you will also need to consider how different entity types are treated from a tax perspective.

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PYMNTS

NOVEMBER 3, 2017

The GOP released its tax plan Thursday (Nov. 2), offering a glimpse into its Tax Cuts and Jobs Act that includes plans for corporate taxes. According to reports in The New York Times , Republican tax reform efforts would impose a minimum global tax of 10 percent for American multinational corporations.

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ThomsonReuters

SEPTEMBER 22, 2021

Tax compliance — and the reporting involved in maintaining that compliance — is one of the most stressful tasks a corporate tax team must complete. Tax teams are responsible for making sure the data in every report is complete and accurate — a task that becomes more difficult as the amount of data proliferates.

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CPA Practice

SEPTEMBER 18, 2023

Sidney Kess, a nationally renowned tax lawyer and accountant, author of hundreds of tax books on financial and estate planning, educator, and a friend to many in the profession, passed away on Sunday at the age of 97. Kess worked as a tax professional at some of the biggest accounting firms in the nation.

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Cherry Bekaert

JULY 14, 2023

Many of these startups are set up as pass-through entities (PTEs), which provide an easy conduit for one layer of flow-through taxation and often retain favorable exit opportunities from a tax perspective. As these startups grow and take on investors, it’s important that financial managers understand the state tax ramifications of growth.

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CPA Practice

JANUARY 22, 2024

Careful planning can use this individual ownership interest to save substantial tax in the event of the sale of the corporation or company. million in tax on the sale and a safe, predictable stream of income in the amount of $180,000 per year for his and his spouse’s lives. This is for at least two reasons.

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Going Concern

NOVEMBER 24, 2022

Take a look at the description, salary range, and requirements and if you’re so compelled, head over to Accountingfly to apply for this Remote Tax Manager position. Remote Tax Manager needed at small but progressive firm – with NO crazy busy season hours. Knowledge of tax laws and strategies is required. Firm/Team Culture.

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ThomsonReuters

JANUARY 19, 2023

Leveraging a powerful workflow engine can deliver the intelligent tax automation , control improvement, and greater visibility tax teams need to make more strategic decisions, mitigate risk, and successfully orchestrate the entire direct tax process. That’s assuming that none of the necessary data is missing.

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ThomsonReuters

FEBRUARY 8, 2024

Jump to: How are LLCs taxed? How can an LLC reduce its taxes? However, LLCs also enjoy certain tax advantages that make them popular, especially for small business owners. How are LLCs taxed? LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income.

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ThomsonReuters

MARCH 9, 2023

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Breeze through tax season easily with our comprehensive year-end tax season toolkit.

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Withum

OCTOBER 18, 2023

“Those who fail to plan, plan to fail.” These words apply to all sorts of things in life and, of course, when it comes to taxes. With some economic upheaval and various provisions of the Tax Cuts and Jobs Act (“TCJA”) nearing their end, here are a few things to be mindful of as we cruise into the 4th quarter of 2023.

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SingleTrackAccounting

MAY 13, 2021

The new presidential administration has proposed a large new tax bill to offset other priorities such as improving infrastructure, funding the American Rescue Plan, combating employment inequality and tackling climate change. These are expected to be financed with increased taxes targeted at high income brackets and corporations.

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Accounting Today

MARCH 4, 2024

There's a growing sense of unease among asset managers that companies with conspicuously small tax bills pose a financial liability too big to ignore.

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ThomsonReuters

APRIL 12, 2021

International tax professionals can feel the winds shifting. Upcoming developments in international tax regulations — plus ongoing disruptions such as digital transformation, marketplace volatility, and remote work — are building the perfect storm. You need to prepare your tax team to keep your organization’s head above water.

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PYMNTS

NOVEMBER 6, 2017

The GOP unveiled its plans for tax reform late last week in an effort to streamline the tax code, a move that aims to cut the tax rates for corporates. In a statement released late last week, the NFIB said it is “unable to support the House tax reform plan in its current form.”.

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