Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting.

tax planning 98

tax planning Tax Construction income tax 98

Withum

DECEMBER 4, 2024

Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting. The depreciation percentage will continue to decrease 20% each year until bonus depreciation is no longer available for property placed in service in 2027. years) to a shorter depreciable tax life (e.g.,

Tax 105

Tax income tax Construction Non-Profits 105

Shay CPA

NOVEMBER 13, 2024

That Act capped the deduction of state and local taxes (SALT) at $10,000. With its expiration, that cap goes away, meaning you can take an unlimited deduction on property taxes and income taxes (or sales taxes, if you live in a state that doesn’t have income tax). Income tax rate changes.

Tax 52

Tax corporation tax income tax CPA 52