Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

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ThomsonReuters

DECEMBER 19, 2023

How to claim energy efficient tax credits from ENERGY STAR Staying up to date with energy efficient tax credits As the world increasingly embraces sustainable practices, energy efficient tax credits serve as powerful tools to motivate individuals and businesses to adopt eco-friendly measures. What is ENERGY STAR?

Tax 52

Tax accounting and finance tax return Manufacturing 52

Withum

FEBRUARY 26, 2024

With so much going on in the dealership world, it is easy for items like filing deadlines and tax credits to fall by the wayside. Key Tax and Filing Requirements As we are still early in the new year, it is the right time for a refresher on several key tax and filing requirements happening in 2024.

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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.

tax return 52

tax return Manufacturing Tax CPA 52

ThomsonReuters

APRIL 25, 2023

A new Reuters news poll showing that more Americans are interested in purchasing an electric vehicle (EV) may be due in part to the increased tax credits for such purchases. The Inflation Reduction Act, signed into law in 2022, increased the tax credit for these purchases to $7,500, beginning this year.

Tax 52

Tax Manufacturing tax return Sales 52

Dent Moses

MAY 19, 2023

Age Increased for Required Minimum Distributions The age used to determine required minimum distributions increases in two stages – from 72 to 73 for those who turn age 72 after 2022, and to age 75 for those who turn 74 in 2032 or later. The taxpayer must not claim a deduction for the distributed excess contribution.

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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

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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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

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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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