…study of the building. Section 48 Energy Investment Tax Credit The energy investment tax credit (ITC) for solar and residential energy-efficient property has been extended for two years. The tax…
…State and Local Tax Obligations of Emerging Businesses “Merging or acquiring? Don’t forget state and local taxes” Federal Tax Reform: State and Local Implications Tax Cuts and Jobs Act Overview…
…are specifically adopted by the Virginia General Assembly and to federal tax extensions. Individual income tax rebates The 2025 Appropriation Act authorizes an income tax rebate for the 2024 taxable…
…Questions on tax planning for your unique situation? These tax savings opportunities should be carefully considered as part of your broader financial picture. This information is intended as a starting…
…partnership, and trust tax engagements from planning through delivery Provide strategic tax advice on compliance, planning, and multi-state taxation Cultivate trusted advisor relationships with clients and their businesses Develop and…
Section 451(b): Overview and Tax Planning Considerations for Businesses Key Takeaways TCJA implemented a new income recognition metric for accrual basis taxpayers “All-events” test had been the applicable standard for…
…proposed amendments to section 1061 would have been effective for taxable years beginning after December 31, 2022. Tax planning opportunities The proposed carried interest tax changes were taken off the…
Tax Benefits for Hiring Employees that Face Barriers to Employment The Work Opportunity Tax Credit (WOTC) may enable both taxable businesses and qualifying not-for-profit organizations to meet their hiring needs…
…another for tax reporting. Income and expenses are reported on tax returns based on one of two accounting methods, which include either the cash method or the accrual method. Either…
Conforming to federal tax code is a legislative win for Virginia taxpayers and practitioners Many states based their income tax laws on Federal tax laws. Conforming to federal tax code…
…U.S. Income Tax Return for Estates and Trusts and others 3) Forms 1120 including – Form 1120, U.S. Corporation Income Tax Return; Form 1120-C, U.S. Income Tax Return for Cooperative…