…Questions on how these tax considerations may apply to your unique situation? Contact your Keiter Opportunity Advisor. Additional tax planning resources Tax Planning Insights: 2025 Individual Tax Inflation Adjustments Business…
…tax benefits. A specialized tax advisor can help optimize these contributions to minimize tax liabilities while benefiting the organization’s mission. Tax strategy planning with a CARF tax specialist CARF-accredited organizations…
…their tax advisors and accountants to understand how the new rules affect their tax liability and financial statements, and to plan accordingly for the upcoming tax years. The Keiter Tax…
…future withdrawals are completely tax free. The younger you are, the better this planning technique as your retirement funds have longer to grow on a tax free basis. Having tax…
…federal income or taxable income (“Federal taxable income”) as the starting point for the determining Virginia taxable income and tax liability. What this really means is that preparing Virginia income…
…a head of household; and $80,000 for all other taxpayers. Child Tax Credit Expanded for 2021 Before ARPA, the child tax credit (CTC) was $2,000 per “qualifying child.” A qualifying…
Update: The requirement to report partners’ shares of partnership capital on the tax basis method will not be effective for partnership tax years beginning in 2019 but will be effective…
…tax years beginning after 2017 could no longer be carried back to a prior tax year of the taxpayer. Instead, they must be carried forward to offset 80% of taxable…
…subject to one level of tax when the gain passes through to the members. A C Corp may be subject to less favorable tax rate when paying tax on the…
…Local Tax Deduction Taxpayers are limited to claiming a state and local tax deduction of up to $10,000 ($5,000 for married taxpayers filing separately) for the aggregate of: (i) state…
…illness Under current law, an additional 10% tax applies to early distributions from tax-preferred retirement accounts. Section 326 provides an exception to the tax in the case of a distribution…
…15 years. Taxpayers can claim the credit against the following taxes administered by Virginia Tax: Individual income tax Fiduciary income tax There is a $5 million cap in available credits…