You may still have time to significantly reduce this year’s business federal income tax bill even with all the uncertainty about proposed tax law changes. Here are five possible moves to consider — but stay tuned for developments. Congress is currently considering some tax changes. 1. Claim 100% First-Year Bonus Depreciation for Last-Minute Asset Additions…
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9 Ideas to Potentially Lower Your Taxes for 2021
With year end rapidly approaching, it’s time to consider making some moves that will lower your 2021 federal income tax bill — and potentially position you for future tax savings. Unfortunately, tax planning is particularly challenging this year, because the tax rules for 2022 aren’t yet certain. In fact, they may not even be certain for…
What Do Business Valuation Standards Mean to Business Owners?
Valuation services are one of the highest growth areas for CPA firms. Clients need to know the value of businesses, business interests and intangible assets for many reasons, including sales transactions, financing, taxation, financial reporting and litigation. When an appraiser follows professional standards, it reassures business owners about the quality and consistency of his or her methods and…