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. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).

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Anders CPA

NOVEMBER 21, 2023

Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Consulting with a trusted tax professional to determine your eligibility for certain deductible activities is the best way to maximize your tax savings.

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Cherry Bekaert

NOVEMBER 28, 2023

There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year.

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Withum

OCTOBER 17, 2024

Bonus depreciation has been declining by 20% each year and will be zero for property placed in service in 2027 (60% in 2024 and 40% in 2025). The typical year-end tax planning point is to defer income and accelerate expenses where possible. Place extra scrutiny on year-end accruals and lower cost or market inventory adjustments.

Tax 52

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Withum

FEBRUARY 26, 2024

Journal entry approval Tax Updates for Dealers Always a well-attended session is the tax update, where accountants and CFOs alike look to kick tax planning into gear for the upcoming year. For property placed in service after December 31, 2025, and before January 1, 2027, bonus depreciation would remain at 20%.

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CPA Practice

DECEMBER 29, 2023

But if you take that into a QuickBooks Desktop discontinuance even with the sun setting, it means all of the Intuit QuickBooks Desktop products except enterprise would be gone by 2027. And, of course, we’ve seen the transition from prosystem tax into excess tax and so forth.

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Withum

DECEMBER 4, 2024

The depreciation percentage will continue to decrease 20% each year until bonus depreciation is no longer available for property placed in service in 2027. Planning should occur with your tax advisor on how to optimize bonus depreciation.

Tax 105

Tax income tax Construction Non-Profits 105