With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. As we approach year end, now is the time for individuals, business owners and family offices to review their 2022 and 2023 […]
U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties. Disruptions to supply chains brought about by the pandemic have continued into 2022. Inflation and rising interest rates have made the cost of debt, goods and services more expensive and cooled consumer spending. […]
Federal tax professionals working to resolve issues with the IRS can attest to the multifaceted impacts of the agency’s resource constraints on taxpayer service. The signs are evident, for example, in the long wait times for calls to be answered, tax return processing delays and increased instances of penalties being assessed against compliant taxpayers. Perhaps […]
With year-end approaching, it is time to start thinking about moves that may help lower business taxes for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could increase corporate tax rates plus the top rates on both business owners’ ordinary income and capital […]
With year-end approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gain starting next […]
The tax policy changes proposed by the Biden administration would roll back many of the tax benefits provided by the Tax Cuts and Jobs Act (TCJA) enacted at the end of 2017. The most significant proposals include increasing the federal corporate income tax rate to 28% from 21%, raising the top personal income tax rate […]
The Paycheck Protection Program (PPP) of forgivable loans has officially re-opened this week due to the new guidance recently issued by the U.S. Small Business Administration (SBA) and United States Treasury. First-time borrowers and second-time borrowers are now eligible to apply for additional assistance under specific guidelines. The PPP loan portal will re-open to PPP […]
The U.S. House of Representatives and U.S. Senate passed the Consolidated Appropriations Act, 2021 (bill), a massive tax, funding, and spending bill that contains a nearly $900 billion coronavirus aid package. The emergency coronavirus relief package aims to bolster the economy, provide relief to small businesses and the unemployed, deliver checks to individuals and provide […]
An Individual’s Tax Planning Highlights As the year-end approaches, individuals, business owners and family offices should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in particular include tax reform provisions that remain in play, as well as new opportunities and relief granted […]
As the world continues to contend with the COVID-19 pandemic and its economic fallout, businesses are doing all they can to mitigate risks and plan for a recovery that’s anything but certain. The path forward will likely not be linear. Different regions, industries and business segments may be in different stages of recovery simultaneously. The […]