Remove income tax Remove Real Estate Remove tax planning Remove tax services
article thumbnail

The Tax Break Commercial Real Estate Investors Might Need After COVID-19

Withum

The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. However, the resulting forgiveness of a portion of the debt does not automatically result in federal taxable income. Business Tax Services.

article thumbnail

What is tax advisory?

ThomsonReuters

research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do?

Tax 98
Insiders

Sign Up for our Newsletter

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

article thumbnail

2023 Year-End Tax Planning Strategies for the Real Estate and Construction Industry

Cherry Bekaert

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. Each state has different eligibility requirements and PTE election regimes.

article thumbnail

Andersen Expands Presence in SoCal, Adds New Offices in Des Moines and Pittsburgh

CPA Practice

Collectively, the professionals joining Andersen deepen the firm’s expertise serving high net worth individuals, families, and businesses across a range of industries, including real estate, manufacturing, construction, professional services, hospitality, entertainment, technology, retail, financial planning, and agriculture.

article thumbnail

Nexus FAQs

Withum

The remaining five states do not impose a sales tax. To get started, you will need the following: Where the company currently files income tax, payroll tax, unclaimed property, and sales tax. Where your company has real or tangible personal property. What do I need to get started with Withum’s nexus tool?

article thumbnail

2022 Year-End Tax Planning Checklist

Withum

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Estate Tax Planning. 2022 Year-End Tax Planning Resources.

article thumbnail

Congress Fails To Pass Key Tax Extenders, Now What?

Withum

The inability of Congress to include key tax extenders in the Consolidated Appropriations Act of 2023, signed into law on December 29, 2022, will increase the federal income tax bill for the majority of U.S. Coming into the new year, business owners likely breathed a sigh of relief that no major tax legislation was passed.

Tax 81