Remove 2025 Remove tax planning Remove tax services
article thumbnail

2022 Year-End Tax Planning Checklist

Withum

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. 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).

article thumbnail

Autumn Budget 2024: Tax Service Line Wishlist & Predictions

Menzies

We are hopeful that any drastic changes will have a transition period before they come in and are then introduced from 5 th April 2025. If this area is targeted, we may see the introduction of a top rate for gains above a certain threshold or even an alignment with income tax rates.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Aprio Releases 2024 End-of-Year Tax Update

CPA Practice

Aprio , a top 25 business advisory and accounting firm, has released its 2024 End of Year Tax Update , highlighting 2024 tax updates and factors that will significantly impact tax planning for 2025 and beyond. With that, the expiration for filing new ERC claims for 2021 expires on April 15, 2025.

Tax 59
article thumbnail

How to Plan for Global Tax Minimization

Cherry Bekaert

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. CFC income that is classified as GILTI is taxed in the U.S.

Tax 104
article thumbnail

Professionals on the Move – Sept. 2024

CPA Practice

He succeeds Vic Alexander, who will transition to an of-counsel role beginning November 1, 2025, after 43 years with the firm, including 31 years as chief manager. Alexander will continue his litigation work through Kraft Analytics, an affiliate of KraftCPAs that focuses on valuation, forensics, and transaction advisory services.

Kansas 104
article thumbnail

Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

As different factors will play a role in businesses considering making elections into entity-level taxes, it is crucial that all the various considerations are modeled out. With proper planning and implementation, PTET elections can be a valuable state tax planning strategy. State and Local Tax Services.

New York 112
article thumbnail

SALT Credits – A Handy Guide to State and Local Tax Credits

MyIRSRelief

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is. Origins of SALT credits.

Tax 100