CPA Practice

DECEMBER 21, 2023

16, 2022, and provides numerous tax deductions and tax credits for individuals, families, and businesses. New tax incentives were added, and existing tax incentives were extended and enhanced. Starting in 2024, a new mechanism will kick in for new and used cars, in which buyers can transfer their tax credits to dealers.

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tax return Manufacturing Tax CPA 52

Withum

AUGUST 7, 2023

The Alternative Vehicle Refueling Property Credit is a federal tax credit designed to incentivize the adoption of eco-friendly refueling infrastructure. What Is the Federal Income Tax Credit for a Charging Station Utilized in a Trade or Business? How Do I Claim a Qualified Charging Station Federal Income Tax Credit?

Construction 52

Construction income tax Non-Profits Transportation 52

ThomsonReuters

NOVEMBER 9, 2022

As part of this legislation, there are several extensions and expansions of tax credits related to electric vehicles (EVs ). . This credit, which is worth up to $7,500 for buyers of new all-electric cars and hybrid plug-ins, has been extended through 2032. Price and income limitations. MAGI limit.

Manufacturing 105

Manufacturing Tax income tax Sports 105

Withum

NOVEMBER 18, 2022

While in previous taxable years, not-for-profits were limited to capturing these cash benefits directly unless they had unrelated business income tax (“UBIT”), under the IRA, all not-for-profits are incentivized to invest in clean energy infrastructure through the direct payment program regardless of tax liability.

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Non-Profits income tax Manufacturing Tax 72

CPA Practice

APRIL 6, 2023

not on people making less than $400,000 a year), in an effort to ultimately reduce the tax gap. The $80 billion in IRS funding over 10 years was ushered in under the Inflation Reduction Act — massive climate, energy, tax, and healthcare legislation passed along Democratic party lines last year. to close the “tax gap”).

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audit Tax tax return Healthcare 111

Withum

OCTOBER 2, 2023

While various concerns surrounding tax legislation and regulations were discussed, four areas of concern were highlighted when visiting Congressional leaders. vehicle sales to be electric by 2032. of light and medium new vehicles sold in 2032 to be electric. conference on September 12 and 13.

Washington 72

Washington income tax Tax Sales 72

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. Please work with your tax advisor for future planning.

Tax 105

Tax income tax Construction Non-Profits 105

Withum

OCTOBER 17, 2024

With the Presidential election less than one month away, private and family-owned businesses are in limbo when dealing with 2024 year-end tax planning. However, the individual income tax policies that could increase pass-through owners’ federal income tax by over 30% are still uncertain.

income tax 128

income tax Tax New Hampshire tax planning 128

Dent Moses

MARCH 18, 2025

President Donald Trump has proposed eliminating federal income taxes on Social Security benefits, aiming to provide financial relief to retirees. Currently, up to 85% of these benefits can be taxed, depending on income levels. Today, the Social Security tax is a flat 12.4%, with employees and employers each paying 6.2%

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Tax Alabama income tax Washington 52