Key Tax Credits Every Business Should Know About
2025 tax filing guidance As the new tax season approaches, businesses must stay informed about the tax credits available to them. Tax credits directly reduce your tax liability, potentially leading…
2025 tax filing guidance As the new tax season approaches, businesses must stay informed about the tax credits available to them. Tax credits directly reduce your tax liability, potentially leading…
…taxes, and distributes profits to shareholders. C Corporations are subject to both corporate-level taxation and tax on dividends to shareholders. While recent tax reforms have made this classification more attractive…
…primary resource in a wide range of multistate sales and use tax matters, including FAS 5, reverse audits, tax planning, consulting, compliance, automation, mergers and acquisitions, controversy, and audit defense….
…of those losses, and losses will be deductible only to the extent of the taxpayer’s gains from wagering transactions during the tax year. Charitable contributions and estate planning Tax benefits…
…taxpayer to retain the certification for tax recordkeeping purposes To claim the tax credit for property placed in service after December 31, 2024, the manufacturer must provide a “qualified product…
…after the rehabilitation is completed. Taxpayers qualifying for a federal credit may also qualify for a Virginia tax credit. Virginia’s Historic Rehabilitation Tax Credit program has played an essential role…
…business plans to take advantage of the recent 2017 Tax Cuts and Jobs Act. It appears that the tax act could be a boon for the US economy overall as…
…most itemized deduction by 2/37ths. This effectively caps the tax benefit of itemized deductions for top earners at 35%. Estate & Gift Tax Planning Opportunities The federal estate tax exemption…
…City of Richmond’s current BPOL fee structure: If the basis of the tax is less than $5,000 – no tax or fee is due If the basis of the tax…
…discuss these and other tax considerations that apply to your unique business situation and identify planning options. Employer Retention Credit Extension The Consolidated Appropriations Act enacted in December recently extended…
…acquire the new rental property without paying tax on the insurance proceeds or on the proceeds from the sale of the lot. Tax savings opportunity Our client can accomplish their…
…Account and the tax professional’s Tax Pro Account. Tax professionals may then go to e-Services Transcript Delivery Service to see the taxpayer’s records. Additional IRS Tax Pro Account Features There…