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6 Year-End Tax Planning Tips for 2023

Shay CPA

It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s income, payroll, sales, and foreign taxes. If you plan to buy expensive assets in 2024 to support your company’s exploration of new or improved products, talk with us first.

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Year-End State and Local Tax Planning Perspective

Withum

As the economy continues to evolve, widespread telecommuting, the looming economic downturn, and state budget shortfalls has increased the focus on state taxes. Although telecommuting raises many concerns, some of these central issues put into focus are: Income and sales tax nexus. Income tax apportionment.

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Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

They stay current on the latest regulations, ensuring your business maximizes legal tax breaks on forms like 1120, 1120S, and 1065, while minimizing liabilities. Compliance Navigation: Tax compliance goes far beyond just filing. Tax Planning and Strategy: A skilled tax professional is more than just a filing machine.

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The Benefits of Delayed Business Filings

CPA Practice

States with tighter schedules include Illinois and New York (up to 60 days) and Virginia (up to 15 days). Administrative considerations: If administrative or logistical challenges could cause delays, planning for a later filing date may provide the necessary time to address and overcome these issues.

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Founders – Get Huge Tax Breaks by acting now!

Shay CPA

Founders – check out our tips below that can save your Startup thousands of dollars in Income Taxes, Payroll Taxes, Sales Taxes, and foreign taxes. . R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits?

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Your Firm and Your Environment

CPA Practice

In this year of discussing and rebuilding technology stacks, I was pleased to be invited to the Top Thought Leaders Symposium in New York City on February 20-22, 2023. My colleague Brian Tankersley and I both attended, and we picked up new ideas from our fellow consultants to the profession.

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Professionals on the Move – May 17, 2023

CPA Practice

FORVIS Adds Aaron Schaal as Tax Partner in New York FORVIS recently announced the hiring of Aaron Schaal as a partner with its tax team in New York. tax planning experience as well as considerable international tax and transfer pricing experience to FORVIS.