MyIRSRelief
JANUARY 16, 2023
When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.
Withum
NOVEMBER 17, 2022
The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. Although many businesses might be subject to nexus, with proper planning, income tax burdens can be alleviated or reduced with sales-sourcing analysis.
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MyIRSRelief
OCTOBER 16, 2023
The Difference Between Deductions and Credits Before we dive into the world of tax deductions and credits, it’s essential to understand the fundamental difference between the two: Tax Deductions: Deductions reduce your taxable income, which, in turn, lowers the amount of income subject to taxation.
MyIRSRelief
AUGUST 1, 2023
Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance.
Withum
MAY 4, 2022
The budget bill, which was signed into law on April 9, 2022, also accelerates individual income tax rate reductions, adds new or modifies some existing tax credits, among other provision changes. A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax.
CPA Practice
NOVEMBER 2, 2023
Target investments to cut localized pollution from port operations, heavy duty trucks, and transportation infrastructure. Tax savings and credits provide an even better package to align your ideals and principles with like-minded companies.
CPA Practice
JULY 11, 2023
Morris has over 10 years of public accounting experience in various areas of tax compliance and consulting. He is experienced in working with the management of closely held businesses in implementing tax-planning strategies, as well as providing private equity and capital groups with tax forecast, advisory and compliance-related services.
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