Some common tax planning strategies for businesses include choosing the right business entity, utilizing accelerated depreciation methods, offering employee benefits and compensation, and tracking ...

Not all accountants are tax planners. There's a common misconception out there that any credentialed accountant or financial professional can handle tax planning. But here's the truth: While many ...

Estate Planning; Retirement Planning; Employee Benefits; Tax Facts Archives; 2023; 2022; 2021; 2020; 2019; 2018; 2017; 2016; ... Updated Tax Facts Q&As advising on the latest changes to tax law ...

The costs of estate planning can be significant and used to be tax deductible. The Tax Cut and Jobs Act eliminated this tax benefit, at least for now.

The Section 121 exclusion and the step-up in basis are well known to financial advisors and tax professionals, but their clients will need to plan carefully to net the biggest potential savings.

Knowing the difference between tax compliance and tax planning could influence how long it will it take to do a return, determine whether it’s more convenient to file online, or see if a ...

The One Big Beautiful Bill extends tax cuts from Trump’s first term, implements new campaign proposals — including no taxes ...

Year-end tax planning is all-important. ... Businesses using the cash method of accounting have some leeway in shifting income and expenses between 2024 and 2025.

The end result is a digitized tax output that has considerable time savings in data collection, cleansing and processing. What takes roughly weeks for traditional methods of tax data collection and ...

This cautionary tale is based upon the recent tax case of Estate of Hoensheid v Commissioner, TC Memo 2023-34.When owners of a company plan to sell their business, there is very often a desire to ...

Knowing the difference between tax compliance and tax planning could influence how long it will it take to do a return, determine whether it’s more convenient to file online, or see if a ...