Withum

NOVEMBER 17, 2022

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. The estate tax is once again becoming a hot button issue even with the lifetime exemption currently set at $12.06

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Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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Withum

DECEMBER 4, 2024

Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting. The IRS released Notice 2023-63, as modified by Notice 2024-12, to provide additional guidance surrounding section 174 expenditures. It is effective for tax years ending after September 8, 2023.

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xendoo

JANUARY 26, 2023

The Internal Revenue Service (IRS) can send you a bill for penalties and additional fees. However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. Types of Penalties How Long Can You Go Without Filing Business Taxes?

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xendoo

APRIL 27, 2023

March 15th is the deadline for calendar year partnerships in 2022 and 2023. Consult an online business tax service with CPAs To make sure you’re filing an accurate Form 1065, have a tax professional take care of it for you. Some online bookkeeping, accounting, and tax services don’t have CPAs and outsource tax returns.

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xendoo

APRIL 27, 2023

March 15th is the deadline for calendar year partnerships in 2022 and 2023. Consult an online business tax service with CPAs To make sure you’re filing an accurate Form 1065, have a tax professional take care of it for you. Some online bookkeeping, accounting, and tax services don’t have CPAs and outsource tax returns.

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Non-Profits tax return cpas bookkeeping 52

xendoo

JANUARY 16, 2023

Here are the due dates for 2022 and 2023. 2022 tax year 2023 tax year April 18, 2022 April 18, 2023 June 15, 2022 June 15, 2023 September 15, 2022 September 15, 2023 January 17, 2023 January 16, 2024 If you underpay your estimated taxes or don’t pay them by the due dates, you may be subject to penalties.

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Withum

DECEMBER 23, 2023

Congressional leaders went home this week for winter recess so there is no way for a tax extender bill to be passed in 2023, but there remains a glimmer of hope for action in early 2024. This article was originally published by Lynn Mucenski Keck in Forbes on December 23, 2023. appeared first on Withum.

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xendoo

JANUARY 30, 2023

This guide goes over business tax credits that could save you money on taxes. You’ll also learn how to maximize their impact with the help of an experienced CPA or tax accountant. Small Business Tax Credits vs. Deductions Small business tax credits and deductions are valuable tools for reducing your tax bill.

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xendoo

FEBRUARY 13, 2023

If you’re wondering how to pay less in taxes, you’re not alone. Everyone—from individuals to business owners—wants to know how to lower their taxes. Tax laws are complicated and they can change each year. Our tax accountants know all the tax breaks for business owners and how to leverage them.

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Going Concern

JUNE 17, 2024

Forvis Mazars’ Phil Laminack talks about Pillar Two accounting for Bloomberg Tax : As countries around the world adopt legislation to implement the 15% global minimum tax known as Pillar Two, tax accounting will become even more complex. The IPA 100 in 2023 included firms above $48.8 million in net revenue.

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