RogerRossmeisl

OCTOBER 20, 2024

The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit rates for large corporations with assets exceeding $250 million. Under these plans, partnerships with assets over $10 million will also see audit rates increase tenfold by 2026.

audit 217

audit CPA Tax business tax 217

RogerRossmeisl

NOVEMBER 9, 2022

It’s generally limited to eligible employees who begin work for the employer before January 1, 2026. The post Work Opportunity Tax Credit Provides Help to Employers appeared first on Roger Rossmeisl, CPA. The IRS recently issued some updated information on the pre-screening and certification processes.

Tax 200

Tax CPA cpa firm business tax 200

Withum

JULY 10, 2024

The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes. SB 167 suspends the net operating loss (NOL) deduction for tax years beginning on or after Jan. 1, 2024, and before Jan.

California 125

California income tax Tax business tax 125

RogerRossmeisl

NOVEMBER 19, 2023

The difference in rates can be alleviated by the qualified business income (QBI) deduction that’s available to eligible pass-through entity owners that are individuals, and some estates and trusts. Individual rate caveats: The QBI deduction is scheduled to end in 2026, unless Congress acts to extend.

income tax 100

income tax CPA Tax Start-ups 100

RogerRossmeisl

MARCH 14, 2021

Employers can qualify for a tax credit known as the Work Opportunity Tax Credit (WOTC) that’s worth as much as $2,400 for each eligible employee ($4,800, $5,600 and $9,600 for certain veterans and $9,000 for “long-term family assistance recipients”).

Tax 130

Tax CPA business tax 130

CPA Practice

OCTOBER 30, 2024

With this guide, Aprio has provided businesses and individuals with insights into how they can navigate the complex rules and regulations in the ever-changing tax world. International Tax : 2024 brought the notice of IRS Section 961 adjustments, which sets rules to ensure that the appropriate basis is transferred to the U.S.

Tax 59

Tax business tax tax planning tax services 59

CTP

OCTOBER 30, 2024

Oftentimes, established, high-profile families need assistance managing their real estate, businesses, trusts, and other assets—this is where the help of a financial advisory team comes in. However, under TCJA, this deduction was suspended until 2026.

Tax 52

Tax tax return Real Estate cpa firm 52