Withum

OCTOBER 3, 2024

How can I determine if an item on a return (such as an election) is also delayed and covered by the postponement? Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Don’t hesitate to reach out to Withum to help during this difficult time.

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

Withum

DECEMBER 4, 2024

Consider asking your employer to increase withholding of state and local taxes (or you can pay estimated state and local tax payments) before year-end to pull the deduction of those taxes into 2024. Consider relocating your residency and domicile for the purpose of reducing or eliminating your state income tax.

tax planning 52

tax planning Tax income tax tax return 52

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. or 39-year lives.

Real Estate 109

Real Estate tax planning Construction Tax 109

Withum

JULY 26, 2023

Instead, the Act would allow taxpayers to currently deduct research and experimental expenditures that are paid or incurred in tax years beginning after December 31, 2021, and before January 1, 2026. Taxpayer can elect to apply the broadened base to the 2022 taxable year or apply the broadened base to tax years starting in 2023.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

OCTOBER 11, 2023

Even though the Notice only provides a short window to adjust a 2022 tax return, it could be worth the time and effort if the cash tax savings are significant. If the capitalization of IRC §174 research and experimental expenditures is also pushed to 2026, the stage will be set for significant federal income tax reform.

income tax 80

income tax Tax accounting standards accounting and finance 80

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Most dealers will need to rely on the prior year’s tax return filings to ensure the credit is allowable and therefore can be properly claimed by the dealership.

Tax 124

Tax income tax Manufacturing tax return 124

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Most dealers will need to rely on the prior year’s tax return filings to ensure the credit is allowable and therefore can be properly claimed by the dealership.

Tax 52

Tax income tax Manufacturing tax return 52