Implementing tax-reduction strategies now can pay off the next time your manufacturing company files its taxes. https://hubs.li/Q02F2MC50
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Partner, Advocate, and Trusted Advisor for the Small Business Owner and Individual, Estate and Trust Services Practice Group Leader
Another year is almost in the books for your #manufacturing company. This is the time of year to implement year-end #taxplanning strategies that can possibly reduce your 2023 tax bill. Here's how.
Year-End Tax Planning For Manufacturers: Combine the Sec. 179 Expensing Election with First-Year Bonus Depreciation
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Don’t leave manufacturing tax exemptions on the table. Learn how a reverse sales and use tax audit can uncover potential tax savings. https://hubs.la/Q02v2K0r0
Reverse sales and use tax audits can reveal refund opportunities for manufacturers
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CPA Leader in Assurance Services ~ NJ Manufacturing & Distribution Industry Practice Leader ~Global Co-Lead for Citrin Cooperman Empowering Diversity and Gender Equality (CC-EDGE) #ccedge
State and local incentives can be a game changer for #manufacturing and #distribution companies. Check out this article to get more info.
In today’s business landscape, #manufacturing and #distribution companies need to be aware of the tax benefits and incentives that are available to them. Partner Jaime Reichardt discusses the potential state and local tax opportunities that companies can utilize in this article: https://lnkd.in/e4u2uFSW
Capitalizing on State and Local Tax Benefits and Incentives - Read More
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Filing your tax return early We are now into the next self-assessment tax return filing cycle, for the year ending 5 April 2024. Although the deadline for filing these returns is 31 January 2025, there are compelling reasons for doing this sooner. For more information, read our Broadcast here - https://lnkd.in/eSXnuhxR #filing #taxreturns #payments #taxrefunds
Filing your tax return early - find out more here
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In today’s business landscape, #manufacturing and #distribution companies need to be aware of the tax benefits and incentives that are available to them. Partner Jaime Reichardt discusses the potential state and local tax opportunities that companies can utilize in this article: https://lnkd.in/e4u2uFSW
Capitalizing on State and Local Tax Benefits and Incentives - Read More
citrincooperman.com
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The House of Representatives passed a tax package last week that includes a stipulation to temporarily reinstate immediate tax breaks for manufacturing research and development expenses in an effort to increase innovation in the U.S. The Tax Relief for American Families and Workers Act of 2024 would allow manufacturers to fully expense R&D spending rather than amortize their expenses over the course of five years, as is currently mandated. The bill would allow for the change until 2026. The bill would increase the expense limit for R&D spending from $1 million to $1.29 million. If the bill passes, it would reverse parts of a 2017 tax law that mandated businesses spread out their R&D deductions over the course of five years, beginning in 2022. https://lnkd.in/eBaR9rFF
House advances manufacturing R&D tax bill
manufacturingdive.com
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State and local taxes can significantly impact a business's overall tax liability, especially if they operate in multiple states. Reviewing tax obligations periodically is essential to take advantage of new benefits and avoid penalties. The deadline for 2023 estimated tax payments is approaching, so consider potential credits, deductions, and reporting obligations before making your next quarterly payment. In this Biz Tip, we discuss important topics for you to reconsider before the 2023 deadline, including: 1. Beneficial Filing Methods for Affiliated Groups 2. Pass-Through Taxation 3. Transferable Tax Credits Read more: https://hubs.li/Q01Y4Tzq0 #SVA #BusinessTips
6 Items to Consider Before Making Your Next Tax Payments
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State and local taxes can significantly impact a business's overall tax liability, especially if they operate in multiple states. Reviewing tax obligations periodically is essential to take advantage of new benefits and avoid penalties. The deadline for 2023 estimated tax payments is approaching, so consider potential credits, deductions, and reporting obligations before making your next quarterly payment. In this Biz Tip, we discuss important topics for you to reconsider before the 2023 deadline, including: 1. Beneficial Filing Methods for Affiliated Groups 2. Pass-Through Taxation 3. Transferable Tax Credits Read more: https://hubs.li/Q01Y4HHw0 #SVA #BusinessTips
6 Items to Consider Before Making Your Next Tax Payments
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Do you know that R&D tax credits can result in an effective corporation tax benefit of 42.5%? Check out our guide on all you need to know about R&D tax credits: https://lnkd.in/eRcKJjD4 If you have any queries, please contact Eddie Murphy or Amy Hartnett. #ResearchandDevelopment #TaxCredits #InvestInIreland
Research & Development (R&D) Tax Credit – What is it and how can it be claimed?
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The ATO in September, 2023, has now finalised and published Tax Determination TD 2023/5 on aggregated turnover and connected entities - Commissioner's discretion that an entity does not 'control' another entity. The principles in TD 2023/5 may be relevant to entities in determining eligibility for the Refundable R&D Tax Offset, as a series of rules apply to groups and include turnover of entities deemed connected or affiliated. #Swansonreed #taxruling
Finalised Tax Determination on Aggregated Turnover and Connected Entities - Commissioner's Discretion That an Entity Does Not 'Control' Another Entity - Swanson Reed
https://www.swansonreed.com.au
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