RogerRossmeisl

FEBRUARY 23, 2021

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business meals has doubled for this year after a new law was enacted at the end of 2020. Here’s a rundown of those that may be important to you and your business.

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Tax CPA business tax 195

TaxConnex

FEBRUARY 23, 2021

M any industry experts believe that as state tax revenues continue to dry up from the economic shutdown and continuing pandemic , state sales tax audits are likely to increase sharply in the coming months. States are in the same boat as many businesses when it comes to the stress and financial strain that comes along with the pandemic, and an increase in audits would help states recoup lost revenue and minimize budget deficits.

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audit Sales Tax auditor 130

KROST

FEBRUARY 23, 2021

This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue , titled “Opportunity Zones and Cost Segregation” by Guest Contributor Artur Babaian. Opportunity Zones are garnering increased interest across the country. Created by the Tax Cuts and Jobs Act (TCJA) in December 2017, taxpayers who meet the requirements for investing in an Opportunity Zone can potentially defer taxable gain on their current year gain and eliminate any gain on the new Opportunity Zone investme

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Real Estate Delaware Tax tax planning 52

Withum

FEBRUARY 23, 2021

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RitaKeller

FEBRUARY 23, 2021

“Solve drama. Don’t create it.” – Dan Rockwell, @Leadershipfreak. When doing presentations to CPA audiences, I will often ask, “You don’t have any drama inside your firm, do you?” Sad to say, this would get a big laugh from the audience. What does that say about your firm? Stay on track to a successful career by following these six rules for keeping your work-life drama-free.

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cpa firm CPA 40

KROST

FEBRUARY 23, 2021

Navigating the ins and outs of US taxes as a US shareholder of a controlled foreign corporation (CFC) has been complex in the last couple of years due to changes in regulations from the IRS. Taxpayers need tax planning to determine the best strategy to mitigate the CFC’s tax liabilities. In 2019, the IRS and Department of Treasury introduced the Global Intangible Low-Taxed Income (GILTI) tax.

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Tax Non-Profits income tax tax planning 54