Anders CPA

NOVEMBER 21, 2023

First-year bonus depreciation was previously always set at 100% but began sunsetting in 2023 and will continue to decrease by 20% each year until it eventually reaches zero in 2027. They should then consult a tax professional to accurately determine if they qualify for QBI and any specific deductions or credits associated with it.  

tax planning 64

tax planning Tax financial statements tax return 64

Cherry Bekaert

FEBRUARY 2, 2024

trillion by 2027, according to data published by Preqin 2. For much of its existence, audit and tax services have created an insulated environment with high barriers to entry, resulting in steady, but not exactly transformative, growth. The global private credit market has grown to more than $1.5

accounting and finance 83

accounting and finance California cpa firm CPA 83

Withum

NOVEMBER 17, 2022

Contact a member of Withum’s Tax Services Team to start planning as year-end approaches. Year-End Tax Planning for Businesses. The corporate tax rate is currently a flat 21% rate. As a result, the 100% bonus first-year write-off is available even if qualifying assets are in service for only a few days in 2022.

tax planning 98

tax planning Tax Construction income tax 98

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