CPA Practice

JUNE 13, 2024

The Tax Cuts and Jobs Act of 2017 (TCJA) brought about substantial changes to the tax landscape, significantly increasing the lifetime estate and gift tax exemption amounts ($13.61 This strategy balances the benefits of current tax law with the need for financial flexibility and security. million for individuals and $27.22

Real Estate 124

Real Estate Tax income tax Illinois 124

Menzies

OCTOBER 6, 2023

This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. This relief is of a temporary nature and will expire on 31st March 2026. As a result, potentially seeing significant tax savings. Who Is Eligible to Claim the Allowance?

corporation tax 59

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Menzies

AUGUST 21, 2023

After the cessation of the “Super-deduction” capital allowance earlier this year, companies will have access to a new First Year Allowance, referred to as Full Expensing, that allows them to claim a 100% deduction for tax purposes in the year of spend on specific capital investments. Who Will be Eligible to Claim the Allowance?

chartered accountant 52

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Withum

OCTOBER 18, 2023

The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

Tax 59

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Menzies

MAY 11, 2023

If you are considering the purchase of a significant new piece of plant, tax planning can play an important part in reducing the long-term cost of the investment helping to boost both cash flow and profitability. The company could recover up to 25% of the cost as a reduction in the corporation tax bill for the year of spend.

Manufacturing 40

Manufacturing corporation tax accounting and finance chartered accountant 40

ThomsonReuters

MARCH 9, 2023

In this post, we will highlight 3 of our top resources included in our Tax Season Toolkit : Year-End Tax Planning for individuals and businesses, How APIs can help transform your practice, and a Case Study detailing how GoSystem Tax RS and GoFileRoom helped a firm. What’s new? •

Tax 59

Tax accounted Account accountant 59

Cherry Bekaert

OCTOBER 3, 2024

Personal Exemptions Personal exemptions would return in 2026 if the TCJA were to sunset. An increased exemption allowed more high-net-worth individuals to transfer their assets tax-free, and reverting back to pre-TCJA exemption levels will require individuals and families to revisit their estate planning strategies.

Tax 105

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