ThomsonReuters

AUGUST 25, 2023

When enacted, bonus depreciation enabled businesses to immediately write off 100% of the cost of eligible property acquired and placed in service after Sept. The purpose of making a provision for depreciation is to enable a business client to account for the gradual decline in value of their fixed assets over time. 168  applies.

corporation tax 98

corporation tax Tax income tax financial statements 98

Withum

DECEMBER 4, 2024

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Planning should occur with your tax advisor on how to optimize bonus depreciation.

Tax 105

Tax income tax Construction Non-Profits 105

Withum

JANUARY 25, 2023

Some will try to argue that these changes merely result in timing differences, which generally do not impact tax financial statement disclosures. However, the amount of cash investment needed to be in compliance with these temporary federal income tax provisions could force some businesses to make tough decisions to stay afloat.

Tax 81

Tax income tax Real Estate Start-ups 81