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Now is the time to review and consider all of your year-end tax business planning options and strategies for the 2024 tax season. Check it out now.
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Now is the time to review and consider all of your year-end tax business planning options and strategies for the 2024 tax season. Check it out now.
Charitable Contributions For 2026, donors who itemize may claim a tax deduction for contributions of cash of up to 60% of AGI and for contributions of noncash assets held more than one year, up to 30% of AGI. The OBBBA made the 60% ceiling for cash gifts to public charities permanent. Donation amounts in excess…
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Most OBBBA international provisions apply to tax years beginning after December 31, 2025, so 2026 is the first year in which calendar-year groups compute net CFC tested income (NCTI), foreign-derived deduction eligible income (FDDEI) and the revised base erosion and anti-abuse tax (BEAT) under the new rules. This summary addresses the rules that govern 2026…
Many taxpayers assume that if they perform legitimate research and development activities, they are automatically entitled to claim the federal Research & Development (R&D) tax credit under Internal Revenue Code (IRC) §41. While technical innovation is certainly a prerequisite, recent IRS guidance and court decisions have highlighted a reality that many businesses overlook: R&D tax…
Withum’s ranking on the “Best Of” Business Accounting Provider for law firms reflects the value Withum brings to the legal industry when helping address the unique needs of law firms. The Law Firm Services Team serves firms of all sizes, from boutique practices to Am Law 200 organizations, helping managing partners and firm leadership make…