A cost segregation study can be a great tax planning tool that, documented properly, accelerates depreciation expense and results in reduced tax liability.
Utilizing Employee Stock Ownership Plans or ESOPs in construction companies that thrive on reputation, legacy and employee morale can be a beneficial recruiting and succession planning strategy.
With the first 100 days in the rearview mirror, Biden Administration priorities are shifting to the future. Business leaders should prepare for swift movement in ESG, innovation, infrastructure, tax policy, and other areas of focus.
A well thought out 2021 tax strategy is more critical than ever as tax professionals’ role as strategic partners has been enhanced in the business ecosystem through the pandemic and ever-evolving tax policy and legislation.
Keep this 2021 tax and financial cheat sheet handy for quick reference to tax rates and deadlines, retirement plan and HSA contribution limits, and other pertinent charts.