Here’s a rundown of the business and individual tax provisions included in President Biden’s recently released budget proposal.
Reading the tea leaves: Potential tax legislation in the new Congress
With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legislation in 2023?
Does your family business’s succession plan include estate planning strategies?
Are you a family business owner who needs to work on your succession plan? Be sure to consider whether, and when, you want to give up control of the company.
What do the 2023 cost-of-living adjustment numbers mean for you?
Don’t forget to factor 2023 cost-of-living adjustments into your year-end tax planning.
Inflation Reduction Act provisions of interest to small businesses
The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research.
Businesses: Act now to make the most out of bonus depreciation
If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.
Fully deduct business meals this year
Wining and dining customers and employees can result in tax deductions and for 2022, the write-offs are bigger than usual.
Deciding between cash and accrual accounting methods
Do you know the differences between cash and accrual accounting methods? Some small business owners are unaware of the options that are now available to them.
Post-2021 Changes to § 174 – Amortization of Research and Experimental Expenditures
Coming changes to the tax treatment of R&D expenditures will have a big impact for businesses. Here’s what you need to know.
Defer tax with a like-kind exchange
With real estate prices up in some markets, the “like-kind” exchange strategy may be attractive if you want to sell commercial or investment real estate.