article thumbnail

Professionals on the Move – August 2023

CPA Practice

Sayre has more than 15 years of experience consulting and advising public and privately held clients in the areas of income and franchise taxation. James is one of the firm’s leading experts in accounting for income tax, including accounting for mergers and acquisitions, in accordance with ASC 740.

article thumbnail

Common Challenges: Brewery Research and Development Tax Credit

Withum

Calculating the use tax liability can be challenging, as breweries may need to determine the fair market value of the items at the time of distribution, which may require reasonable estimation based on their cost, retail value, or other relevant factors.

Tax 52
Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate.

article thumbnail

How Long Does It Take an Accountant to Do Taxes?

xendoo

There are three main types of qualified tax preparers. These include enrolled agents (EAs), certified public accountants (CPAs), and tax lawyers. Other individuals may prepare taxes through retail firms, but often they will not have received education specific to tax. . Tax Accounting Software.

Tax 94