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Year-End Tax Strategies for Businesses

Withum

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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2023 Year-End Tax Planning Strategies for the Real Estate and Construction Industry

Cherry Bekaert

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. The seller recognizes gains as the buyer makes payments of principal on the note.

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2022 Year-End Tax Planning Checklist

Withum

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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Alternative Vehicle Refueling Property Credit Q&A

Withum

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?

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Individuals and Pass-Through Entity Owners Leery Over Harris Tax Policy

Withum

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.