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October 15 th ended the last major incometax due dates in 2023. Most CPAs use the fourth quarter of the year for audit and taxplanning for clients, strategic planning for the firm and of course, CPE. Look out for our December webinar for an additional CPE credit!)
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. Each state has different eligibility requirements and PTE election regimes.
View On-Demand Webinar. Join Withum’s tax experts for a timely overview on year-end taxplanning and how you can minimize your tax bill this year. View our on-demand webinar to : Review new tax legislation. Discuss year-end taxplanning strategies for individuals and businesses: IncomeTaxes.
With the year coming to an end, it’s essential to kickstart your 2023 tax preparations and start thinking about tax-saving techniques, potential opportunities, and the recent legal modifications that might impact your tax obligations. Mucenski-Keck Principal New York, NY Kimberlee S.
Democrats argue that the current corporate tax rate is too low and that corporations should contribute more to the public good. They also point out that many large corporations pay little to no federal incometax due to various loopholes and deductions.
It is crucial that there is a cross-functional approach to supply chain decisions, incorporating tax advisers and legal experts to identify any potential tax liabilities and ensure they are mitigated. Cross-functional teamwork can help companies manage risks while optimizing their operations.
“Tax advisory is so important for the future of our profession,” said Dominique Molina, CPA, MST, CPS, co-founder and president of the American Institute of Certified Tax Planners , and a presenter of advisory-related webinars to Intuit® ProConnect Tax , Lacerte® Tax , and ProSeries® Tax customers. “As
Addressing income equality: The Tax Excessive CEO Pay Act targets corporations with high CEO-to-worker pay ratios to narrow income disparities. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.
Taxplanning and financial planning complement each other well, and your clients already need these services, but for many of them, they likely don’t know who to turn to for help. During the busy season, you’re very busy and the cash flow is nice, but after that, things slow down considerably.
Are you claiming all the incometax deductions you’re entitled to? These include: • Classes, seminars, webinars and workshops. This deduction covers any consultants you hire in connection with running your business, including attorneys, accountants, tax preparers and advertising agencies. . Home Office.
The Global Minimum Tax is the latest initiative spinning off of the Base Erosion and Profit Shifting (BEPS) initiative from the Organisation for Economic Co-operation and Development (OECD). Countries would have to write new laws, adopt new tax treaty language, and repeal some policies that conflict with the new rules.”.
While many questions remain, now is the time to begin exploring some of the potential tax law changes and strategies for how tax and accounting professionals can stay up to date on changes as they unfold. This is up from $7,830 for tax year 2024. Estate tax credits The federal estate-tax exclusion amount increases to $13.99
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