Federal Tax News for Businesses
Farmers Are Partially Allowed Depreciation Write-offs
2. Closing a Business? Here Are Some Steps to Take
3. Deductions Disallowed Due to Insufficient Records
4. Trust Fund Recovery Penalty is Upheld by Court
5. Court Rules Business Must Show a "Profit Motive"
Read More Four Tax Breaks for Home Improvements
Home improvements may provide sizable tax savings. But there's a catch: You must follow the IRS blueprint.
Read More Are You Missing the Roth IRA Boat?
If you're self-employed, consider making nondeductible Roth IRA contributions, in addition to contributing to traditional tax-deferred retirement accounts.
Read More Year-end spending package tackles retirement planning, conservation easements
Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act. Here are some of the provisions.
Read More Federal Tax News for Individuals
1. Contribute More to Your FSA in 2023
2. Possible Tax Legislation by Year End and Beyond
3. Do You Know What Your Filing Status Is?
4. RMDs: Important Considerations for Certain Taxpayers
5. Court: Charitable Donations Must Be Substantiated
Read More The IRS Has Announced Various Tax Benefit Increases for 2023
The IRS recently announced the 2023 annual inflation adjustments for many tax provisions, including tax rates, the standard deduction, the alternative minimum tax exemption, the annual exclusion for gifts, the estate tax exclusion and more.
Read More It’s Time for Businesses to Rethink Their Working Capital Practices
Today's market conditions have brought working capital management to the forefront. What's worked for your business in the past might not make sense in the current economy.
Read More 5 steps to take now to cut your 2022 tax liability
Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps.
Read More Act now to reduce your business’s 2022 tax bill
As 2022 winds down, now is the time for your business to take stock of its tax situation and implement year-end tax planning strategies.
Read More Recession Realities Playbook
According to polls of CEOs, CFOs and business executives, there are three key pressures that are impacting business performance as we move into Q1 2023. Persistent high inflation Scarce and expensive talent Global supply constraints Source: Gartner While we may […]
Read More What do the 2023 cost-of-living adjustment numbers mean for you?
The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over 2022 amounts. As you implement 2022 year-end tax planning strategies, be sure to take these […]
Read More Inflation Reduction Act expands deductions for energy-efficient construction
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings? These are the Sec. 179D deduction and the Sec. 45L credit.
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