Withum

JANUARY 13, 2022

From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns.

Tax 126

Tax tax return income tax corporation tax 126

Accounting Today

JANUARY 19, 2024

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

Tax 78

Tax business tax New York corporation tax 78

Withum

MARCH 21, 2022

As you may recall, the 199A deduction was incorporated in the TCJA as a compromise for pass-through entities owners after significant public comment following the proposed decline of the corporate tax rate 35% to 21%. This results in over $100,000 more cash for the C corporation.

Tax 128

Tax corporation tax income tax tax services 128

TaxConnex

DECEMBER 1, 2022

The plaintiffs have reportedly said that Louisiana’s patchwork sales tax compliance system is a labyrinth filled with audit traps and now say the case belongs in federal court because Wayfair was ultimately decided in the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

Sales 130

Sales Tax Alaska Louisiana 130

Wellers Accounting

MARCH 11, 2022

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

Tax 52

Tax tax planning income tax corporation tax 52

Inform Accounting

MARCH 15, 2023

What was hoped was that the chancellor was going to stop the planned corporation tax rise from 19% to 25% for businesses earning between £50k and £250k in profits. Sadly, this tax rise and all its complications still take effect. These will prove very punitive if you run multiple businesses. What is full expensing?

Non-Profits 52

Non-Profits Tax tax return corporation tax 52

Withum

MAY 4, 2022

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

New York 112

New York income tax New Jersey Tax 112

inDinero Tax Tips

APRIL 20, 2021

The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies. Your very own Delaware corporate tax calendar. Nevada corporate taxes and fees.

Delaware 64

Delaware Wyoming Nevada Oregon 64

ThomsonReuters

MARCH 9, 2023

Education Taxpayers who are paying or saving for their own or their dependents’ education have several opportunities to maximize education-related tax benefits before year-end. For tax years 2021-2025, many public and private student loan discharges are excluded from gross income. What’s new? •

Tax 59

Tax accountant Account accounted 59

ThomsonReuters

FEBRUARY 24, 2023

K-1s are tax forms that are used for business partnerships to report to the IRS a partner ’s income, losses, capital gain, dividends, etc., from the partnership for the tax year. With the K-1, a partner’s earnings can be taxed at an individual tax rate versus the corporate tax rate.

Non-Profits 59

Non-Profits tax return Tax income tax 59

Ronika Khanna CPA,CA

SEPTEMBER 28, 2021

Updated October 2021 Budding entrepreneurs wanting to start up a small business (or become self employed), either on a full time or part time basis, are often not sure where to start. If you and your business are located anywhere in Canada , please refer to my article on how to register a business in each province in Canada.

Legal 52

Legal payroll tax return corporation tax 52

ThomsonReuters

DECEMBER 19, 2020

Business A has a $50,000 NOL in year 1 ($0 taxable income) and $100,000 taxable income in year 2. It pays no tax in year 1 and tax of $21,000 in year 2 (assuming a 21% corporate tax rate). So, over two years, A has a $21,000 tax liability on $50,000 of income.

Tax 98

Tax Real Estate corporation tax audit 98

DMCL

APRIL 11, 2022

While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was undoubtedly influenced by the recent announcement of a coalition with the NDP. billion for 2023/24.

Non-Profits 52

Non-Profits Real Estate Tax Construction 52

ThomsonReuters

OCTOBER 19, 2022

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion).

Kansas 64

Kansas income tax Kentucky Missouri 64

ThomsonReuters

MARCH 2, 2021

The disruptions of 2020 — a pandemic, related regulatory changes, a remote workforce — have changed the business and tax landscape. Tracking Global Tax Filing Deadlines on A Spreadsheet Doesn’t Work. Biden Tax Policies Take Center Stage: What to Expect in 2021 and Beyond.

Tax 52

Tax Technology corporation tax audit 52

ThomsonReuters

MARCH 18, 2021

Biden Tax Policies Take Center Stage: What to Expect in 2021 and Beyond. Entering a New Era: The Future of Corporate Tax Management. Dissecting the Fast Pace of Digital Transformation and Its Tax Implications podcast. . [1] Transformative Technology for Data Management with ONESOURCE. Do More with More?

Tax 98

Tax Technology corporation tax Start-ups 98

ThomsonReuters

FEBRUARY 24, 2021

When exceptions arise or tax needs to pivot to respond to business, tax, and regulatory change, you can quickly set up dynamic tasks to address them, ensuring that all tax workflow stays contained within the system. Biden Tax Policies Take Center Stage: What to Expect in 2021 and Beyond.

Tax 52

Tax Technology corporation tax tax planning 52

CPA Practice

JANUARY 12, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) A bipartisan, bicameral $70 billion tax agreement taking shape on the Hill is drawing mixed reviews, pointing to potential challenges ahead for Senate Finance Chair Ron Wyden and Ways and Means Chairman Jason Smith. said, referring to the child tax credit. “In Jimmy Gomez, D-Calif.,

Tax 98

Tax Idaho Iowa New York 98

CPA Practice

FEBRUARY 5, 2024

The expanded child tax credit included in the bill doesn’t go as far as the pandemic-era expansion that expired at the end of 2021, which transformed an existing $2,000-a-year tax deduction into monthly payments of up to $300 per child to all but the highest-income U.S.

Idaho 49

Idaho Tax Iowa Kentucky 49

ThomsonReuters

SEPTEMBER 13, 2024

The passage of the TCJA in December 2017 was significant as it overhauled the tax landscape for both individuals and corporations. The Act shifted millions of Americans to the standard deduction and reduced both individual and corporate tax rates, to name just a few of the reforms. Furthermore, a top rate of 39.6%

income tax 98

income tax Tax corporation tax Account 98

ThomsonReuters

DECEMBER 14, 2020

Business Tax Professionals. The tax rules and regulations U.S. companies will operate under in 2021 and beyond will be shaped in the coming months by Biden Administration priorities, the balance of power in the U.S. Business Tax Professionals appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

business tax 94

business tax Tax Montana New Hampshire 94