Despite the delays and uncertainty around exactly what tax changes final legislation will contain, there are actions that businesses can consider taking to minimize their tax liabilities, which are highlighted in this guide.
It’s time for year-end tax planning – individuals should review 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations.
When assessing your tax situations for 2021 and subsequent years, consider whether you may benefit from traditional tax accounting method planning, which aims to defer income recognition and accelerate deductions, or “reverse” tax accounting method planning, which does the opposite.
A cost segregation study can be a great tax planning tool that, documented properly, accelerates depreciation expense and results in reduced tax liability.
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.
R&D will continue to be a priority for the healthcare industry, as organizations work to address the emerging needs of the aging population, respond to trends in telehealth and value-based care, and fend off competition.
For most, a new year brings thoughts of resolutions and new beginnings. For CPAs, it means the start of another busy tax filing season. In this article reprinted from East End Living Magazine, DMLO President Chris Ward covers items of interest for both 2020 individual returns, and things to keep in mind for 2021.
As we start a new year, here are a few wealth planning reminders of ways to lower taxable income before filing your 2020 taxes.
HSAs coupled with a high-deductible health plan can be a powerful tool for funding medical expenses on a tax-advantaged basis, and can play a helpful role in estate planning.