2026 Tax tax services 
Withum
JUNE 12, 2024
S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.
Withum
JANUARY 16, 2024
We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need.
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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, 2025, and prior to Jan 1, 2026.
Cherry Bekaert
JULY 23, 2024
The Company turned to Cherry Bekaert to understand the tax implications of the sale. An inclusion event can trigger the immediate recognition of gain that would otherwise be deferred until 2026. Results The QOF reinvested the sale proceeds into two new QOZB investments, which saved the investors over $1M in taxes.
Withum
OCTOBER 3, 2024
The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. Key Hurricane Helene Tax Relief Information Who qualifies for this relief? Key Hurricane Helene Tax Relief Information Who qualifies for this relief? Provide the FEMA Disaster Number of the area where your tax preparer is located.
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. The seller recognizes gains as the buyer makes payments of principal on the note.
Cherry Bekaert
SEPTEMBER 29, 2023
real estate, while taking advantage of any strategic tax benefits that coincided with a desired new investment. With over 75 years of tax consulting and compliance services, Cherry Bekaert’s Opportunity Zone Team can step in and advise on these investment funds and tax credits and incentives.
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