This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. 57% of accounting firms plan to increase fees across all services in 2025. Or at least half-in. Clients are just going to loooove that.
Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. Key findings include: 57% plan to increase fees across all services.
Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs. Note: The federal estate tax exclusion amount is scheduled to sunset at the end of 2025. Beginning on January 1, 2026, the amount is due to be reduced to $5 million, adjusted for inflation.
For example, you could pull income into 2024 to be taxed at lower rates, and defer deductible expenses until 2025, when they can be claimed to offset higher-taxed income. Here are some other ideas that may help you save tax dollars if you.
Specifically: * Companies created or registered prior to January 1, 2024 have until January 13, 2025 to file. Companies created or registered on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file. What are my options?
Rev up for the Winter 2025 issue of Dealer Vision ! Read Full Article TaxPlanning Strategies for Car Dealerships: Cost Segregation Authored by: Martin Harski , Principal Owning a car dealership can present a golden opportunity to reduce your tax liabilities.
Employers must withhold the additional Medicare tax from wages in excess of $200,000, regardless of filing status or other income. Thus, you can minimize the additional Medicare tax by deferring income to 2025. million in 2025). The current lifetime exemption is $13.61 million per person (and increasing to $13.99
Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% Bloomberg Tax’s annual Projected U.S. Act that affect taxplanning for corporate taxpayers in certain industries. increase in 2023.
With a thorough understanding of their unique circumstances and the latest tax regulations, you can transform complex tax challenges into clear, actionable solutionssetting the stage for your clients financial success in 2025 and beyond.
With more than 30 million small businesses in the US, effective taxplanning is essential to maximizing profits and minimizing taxes, keeping more of what is earned, and lowering your taxes for the future. Plus, the deduction will expire in 2025. In this regard, many service companies may not qualify under the law.
TAX CANDIDATES FTE Tax | Candidate ID #23772188 Certifications: CPA in process, EA Education: BBA Accounting and Finance Experience (years): 8+ years experience in tax accounting. The post Top Remote Accountants of the Week | January 17, 2025 appeared first on Going Concern.
TAX CANDIDATES FTE Tax Senior | Candidate ID #23616387 Certifications: EA Education: BS Accounting, MS Taxation Experience (years): 10+ tax and accounting Work experience (detail): 6+ in public accounting 3 in healthcare industry Full cycle accounting and financial reporting Prepared tax filings for individuals, SMBs, partnerships, nonprofits 30% review (..)
The post Top Remote Accountants of the Week | January 30, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
As we approach the end of 2025 (which will be here before we know it!), significant changes to the estate tax law are on the horizon, which could greatly affect your taxplanning strategies. Currently, the estate tax exemption stands at approximately $14 million, but on January 1st, 2026, it is scheduled to be slashed.
Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income TaxPlanning. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).
The post Top Remote Tax and Accounting Candidates of the Week | April 3, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
The post Top Remote Accountants of the Week | January 2, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
The post Top Remote Tax and Accounting Candidates of the Week | March 13, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
But where do you begin building your taxplanning strategy? Taxplanning strategy #1: Utilize short-term staffing solutions As tax season begins, firms in need of a short-term boost in headcount should consider outsourcing services to increase workload capacity.
The post Top Remote Accountants of the Week | February 13, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
The post Top Remote Accountants of the Week | January 23, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
In addition, brokers will be required to report gross proceeds from digital asset sales starting in 2026 for transactions occurring in 2025; and report tax basis information for certain digital asset sales made in 2026, beginning in 2027.
The post Top Remote Accountants of the Week | February 27, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
Pennsylvania Senate Bill 815, signed into law on December 14, 2023, amended the Pennsylvania tax code to recognize irrevocable grantor trusts for tax years beginning after January 1, 2025. This change may bring new taxplanning opportunities, and your Withum tax advisor is available to explain how these changes impact you.
There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into taxplanning to help businesses make informed decisions and set a solid foundation for the upcoming year.
As we prepare to thrive in 2025, here’s what my clients and I look at: Taxes: In an asset-heavy industry, staying on top of taxes is make-or-break. Proper taxplanning involves not just meeting estimated payments but also strategically managing depreciation schedules and asset valuations.
will become a BGA&F location, operating under the Barsz Gowie Amon & Fultz name until the lease expires in September 2025. has served the Delaware County, PA, community for more than 100 years, known for its accounting, audit, taxplanning and compliance, and advisory services. “We Howe & Co. The office of William E.
Digital asset taxplanning Clients engaging in digital asset transactions often need guidance on tax-efficient strategies. Developing a digital asset advisory framework While the immediate focus is on compliance with the 2025 and 2026 deadlines, the broader trend toward digital asset regulation is clear.
The Tax Cuts and Jobs Act (TCJA) of 2017 was a major tax reform law that overhauled the US tax code, affecting both businesses and individuals. Most of the tax changes made by the TCJA are set to sunset or revert to their previous state at the end of 2025. million to $11.2 million to $11.2
“It requires enhanced disclosures primarily related to existing rate reconciliation and income taxes paid information to help investors better assess how a company’s operations and related tax risks and taxplanning and operational opportunities affect the company’s tax rate and prospects for future cash flows.”
This luxury is set to phase out starting January 1, 2023, until it is fully eliminated in 2027 as follows: Period Bonus Depreciation Percentage 9/27/2017 – 12/31/2022 100% 2023 80% 2024 60% 2025 40% 2026 20% 2027 0%. Qualifying property is loosely defined as property with a depreciable life of 20 years or less. Contact Us.
Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on taxplanning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end taxplanning. Tax Cuts and Jobs Act (TCJA).
The end of the year is an opportunity to get your affairs in order for the year ahead, and when it comes to taxplanning, the sooner you begin preparations the better. As 2023 approaches, there are actions that can be taken now to offset or minimize your tax burden. Qualified Business Income (QBI) Optimization. CONTACT ANDERS.
billion in taxes The critical point is that unless Congress takes further action, the exemption provisions of the Tax Cuts and Jobs Act of 2017 are set to “sunset” on December 31, 2025. To navigate these changing tax dynamics, taxpayers should consult their estate planning professionals.
A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. The fourth quarter is for taxplanning, not tax reporting. I realize that I’m in the minority in thinking that taxplanning is fun. So, as we evaluate our client planning for year-end, we are thinking about 2025 premiums.
The post Top Remote Accountants of the Week | February 6, 2025 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.
TCJA (in effect for tax years 2018-2025) limited the amount of debt covered to $750,000 (or $375,000 for married couples filing separately). If the TCJA tax laws are not extended, in 2026 the limitation will go back up to $1 million. As you now see, taxplanning is not just for the wealthy.
TCJA (in effect for tax years 2018-2025) limited the amount of debt covered to $750,000 (or $375,000 for married couples filing separately). If the TCJA tax laws are not extended, in 2026 the limitation will go back up to $1 million. As you now see, taxplanning is not just for the wealthy.
By Martin Schamis, CFP, Kiplinger Consumer News Service (TNS) The Tax Cuts and Jobs Act (TCJA) of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. 31, 2025—at which point they will revert to pre-TCJA levels. million to $11.2 31, 2021.
A tax expert can help you a) minimize estate taxes and b) generate sufficient liquidity to satisfy estate expenses. In 2021, the federal estate tax does not apply to individual estates worth less than $11.7 million [1] , but after 2025, this exception is expected to reverse to $5 million for an individual. [2]
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content