Berkowitz Pollack Brant
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2024-08-29
Podcast – BPB Knows 1031 Exchanges
In this episode, Senior Manager Yovanny Hernandez shares the details about 1031 exchanges and how they help real estate owners mitigate taxes.. The post Podcast – BPB Knows 1031 Exchanges appeared first on Berkowitz Pollack Brant Advisors + CPAs.
Read more![Florida Sets September Sales-Tax Holiday on Tools by Karen A. Lake, CPA](/content/images/news_generic.jpg)
Berkowitz Pollack Brant
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2024-08-28
Florida Sets September Sales-Tax Holiday on Tools by Karen A. Lake, CPA
For the third consecutive year, Florida offers consumers and skilled tradespersons a one-week sales-tax holiday on tools and related equipment costing as much as $300 per item. During the week of September 1 through 7, 2024, individuals may purchase the following items in the state without having to pay state or local sales tax: Work […] The post Florida Sets September Sales-Tax Holiday on Tools by Karen A. Lake, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.
Read more![Six Tax Issues to Consider if You’re Getting Divorced](/content/images/news_generic.jpg)
PKF Texas
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2024-08-27
Six Tax Issues to Consider if You’re Getting Divorced
Key Points: Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes […]
Read more![The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM](/content/images/news_generic.jpg)
Berkowitz Pollack Brant
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2024-08-23
The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM
The Corporate Transparency Act (CTA)introduced a new requirement for existing corporations, LLCs, and some partnerships and business trusts to file by January 1, 2025, beneficial ownership information reports (BOIR) disclosing the identities of the individuals behind those entities. For companies established after January 1, 2024, an initial BOIR must be filed within 90 days of […] The post The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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Berkowitz Pollack Brant
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2024-08-21
Will the Loper Decision Foster Continued Uncertainty in Financial Services Tax Matters? by Magda Szabo, CPA, JD, LLM
On June 28, 2024, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo,[1] overturning its 40-year long-standing precedent set forth in Chevron v. Natural Resources Defense Council.[2] The latest ruling has far-reaching consequences concerning the courts’ power to override a federal agency’s interpretation (regulatory guidance) of the laws Congress designated […] The post Will the Loper Decision Foster Continued Uncertainty in Financial Services Tax Matters? by Magda Szabo, CPA, JD, LLM appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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Berkowitz Pollack Brant
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2024-08-20
IRS Extends Tax Relief to Victims of Hurricane Debbie in South Carolina, Vermont and Portions of Florida and Georgia by Steven Rubin, CPA
The IRS has extended until Feb. 3, 2025, various tax-filing and tax-payment deadlines for individuals and businesses recently impacted by Hurricane Debbie, which first made landfall on Florida’s Gulf Coast in early August. The postponed deadline applies automatically to taxpayers with homes or businesses located in the following jurisdictions declared as federal disaster areas: Florida: […] The post IRS Extends Tax Relief to Victims of Hurricane Debbie in South Carolina, Vermont and Portions of Florida and Georgia by Steven Rubin, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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JLK Rosenberger LLP
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2024-08-20
California Suspension of NOL Deduction Changes Tax Planning for Businesses
Reading Time: 1 minute 40 seconds California’s business climate recently worsened when the state enacted legislation suspending the net operating loss deduction for tax years beginning on or after January 1, 2024, and before January 1, 2027. The suspension applies to taxpayers with more than $1 million in net income for the tax year. The … Continued The post California Suspension of NOL Deduction Changes Tax Planning for Businesses first appeared on JLK Rosenberger.
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PKF Texas
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2024-08-20
Why Outsourcing HR Can Benefit Your Overworked Nonprofit
Key Points: At one time, not-for-profit HR departments might have been responsible primarily for recruiting and hiring and occasionally for intervening in disciplinary or conflict resolution matters. Today, HR staffers […]
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PKF Texas
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2024-08-19
Navigating the Complexities of Employee Benefit Plan Audits
In this episode of the PKF Texas – The Entrepreneur’s Playbook®, Kevin Hengst,CPA, an audit director and Approachable Advisor™ at PKF Texas, discusses the critical issue of delinquent participant contributions […]
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JLK Rosenberger LLP
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2024-08-15
Tax Extenders Legislation Fails to Pass
Reading Time: 2 minutes 55 seconds Earlier this month, the Tax Relief for American Families and Workers Act of 2024 (AFWA) failed to pass in the Senate on a procedural vote. The legislation represented the final opportunity before the presidential election to extend essential tax provisions. It was designed to implement certain changes and extensions … Continued The post Tax Extenders Legislation Fails to Pass first appeared on JLK Rosenberger.
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Berkowitz Pollack Brant
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2024-08-15
Podcast – BPB Knows Foreign Tax Credits
In this episode, Director of Tax Services Andrew Leonard explains foreign tax credits and a recent court ruling that could make an impact on taxpayers. The post Podcast – BPB Knows Foreign Tax Credits appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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PKF Texas
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2024-08-13
Tips for Borrowing from Your Corporation
Key Points: If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important […]
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Berkowitz Pollack Brant
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2024-08-13
IRS Finalizes Inherited IRA RMD Rules, Delays Effective Date Again by Joanie B. Stein, CPA
In July 2024, the IRS issued final regulations regarding the SECURE Act’s elimination of stretch IRAs for certain non-spouse beneficiaries. The announcement gives taxpayers and their advisors much-needed clarification on the law’s requirement that beneficiaries of inherited IRAs draw down those accounts and pay the related taxes within 10 years of an original owner’s death. […] The post IRS Finalizes Inherited IRA RMD Rules, Delays Effective Date Again by Joanie B. Stein, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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Berkowitz Pollack Brant
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2024-08-07
IRS Updates Guidance Related to Foreign Gains and Losses Under Section 987 by Jairan Shirazi
One of the more challenging tax reporting requirements for multinational businesses is the translation of gains and losses of their foreign branch offices and qualified business units (QBUs) into their home country’s functional currency. This process is often complicated by exchange rate fluctuations, including currency devaluations, that can have a material impact on the principal […] The post IRS Updates Guidance Related to Foreign Gains and Losses Under Section 987 by Jairan Shirazi appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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PKF Texas
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2024-08-06
Income Tax Tips for Estate Planning
Key Points: The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before […]
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Berkowitz Pollack Brant
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2024-08-06
Stricter Reporting Requirements Create Planning Opportunities for Foreign Trusts by Joel G. Young, JD, LLM
In May 2024, the IRS issued proposed regulations concerning the reporting requirements and tax consequences of U.S. persons who create, fund, transact with and receive gifts or loans from foreign trusts. The guidance, which applies to Sections 643(i), 679, 6039F, 6048, and 6677 (the foreign trust and gift provisions) of the U.S. tax code, updates […] The post Stricter Reporting Requirements Create Planning Opportunities for Foreign Trusts by Joel G. Young, JD, LLM appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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Berkowitz Pollack Brant
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2024-08-01
Podcast – BPB Knows Electric Vehicle Tax Credits
In this episode, associate tax director Brendan Kurpis explains electric vehicle tax credits and the common missteps. The post Podcast – BPB Knows Electric Vehicle Tax Credits appeared first on Berkowitz Pollack Brant Advisors + CPAs.
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PKF Texas
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2024-07-30
Navigating Board Changes Through Your Nonprofit’s Lifecycle
Key Points One thing every new not-for-profit organization can count on is change. Ideally, the changes you experience will be for the better — expanded programming, increased staffing, more clients […]
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JLK Rosenberger LLP
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2024-07-30
IRS Issues Draft Form 6765 Revisions, Finally Some Good News
On June 21st, the IRS issued a revised draft of Form 6765 to be used by taxpayers when claiming the federal Research & Development (R&D) tax credit. The new draft includes several changes to the prior draft issued in September 2023. Based on feedback received, the IRS significantly streamlined Section G Business Component Information. Specifically, … Continued The post IRS Issues Draft Form 6765 Revisions, Finally Some Good News first appeared on JLK Rosenberger.
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PKF Texas
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2024-07-23
Social Security Tax Update: How High Can It Go?
Key Points: Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social Security […]
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JLK Rosenberger LLP
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2024-07-23
Working Capital is a Crucial Financial Metric in Business Transactions
A company’s working capital is calculated fairly simply by subtracting its current liabilities from current assets. The resulting amount is the working capital. Despite the simplicity of the calculation, the importance of working capital to a business’s operations is substantial since it represents its ability to meet day-to-day operating expenses. Moreover, working capital is a … Continued The post Working Capital is a Crucial Financial Metric in Business Transactions first appeared on JLK Rosenberger.
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JLK Rosenberger LLP
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2024-07-19
New Guidance on Emergency Personal Expense Distributions
Reading time: 2 minutes, 30 seconds In late 2022, Congress passed the Retirement Savings for Americans Act, also known as the SECURE Act 2.0, designed to make it easier to save for retirement. The legislation included over 90 provisions targeting various aspects of employer sponsored retirement plans with effective dates ranging from 2022 through 2026. … Continued The post New Guidance on Emergency Personal Expense Distributions first appeared on JLK Rosenberger.
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PKF Texas
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2024-07-17
Attract Top Talent to Your Nonprofit with a Strong Benefits Package
Key Points: Some job candidates assume that not-for-profit organizations offer lower compensation than for-profit companies do. If your nonprofit has open positions, this can be a difficult hurdle to overcome […]
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JLK Rosenberger LLP
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2024-07-16
Unlocking Tax Advantages: How to Qualify as a Real Estate Professional
Reading Time: 3 minutes Qualifying as a Real Estate Professional offers significant federal tax advantages that can significantly benefit those in the real estate industry. By achieving this status, you can offset real property rental losses against other sources of income and exclude real estate gains and revenue from the Net Investment Income Tax. These … Continued The post Unlocking Tax Advantages: How to Qualify as a Real Estate Professional first appeared on JLK Rosenberger.
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PKF Texas
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2024-07-15
Essential Updates for Employee Benefit Plan Sponsors: Insights from the AICPA Conference
In this episode of the PKF Texas – Entrepreneur’s Playbook®, Jen Lemanski and Audit Director, Kevin Hengst, CPA discuss key takeaways from the AICPA Employee Benefit Plan conference. Kevin highlights […]
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PKF Texas
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2024-07-11
How Upcoming Elections Could Impact Your Tax Bill
Key Points: Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts […]
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JLK Rosenberger LLP
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2024-07-09
R&D Tax Credit for Manufacturers
The Research & Development (R&D) tax credit is a powerful savings tool for eligible research projects. Unfortunately, many do not take advantage of the incentive due to the incorrect assumption that the business has no qualifying activities. A popular myth has been debunked: the R&D tax incentive is only for large companies that employ scientists … Continued The post R&D Tax Credit for Manufacturers first appeared on JLK Rosenberger.
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JLK Rosenberger LLP
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2024-06-25
The 2024/25 Worldwide Tax Guide is Here
The most recent publication of the Worldwide Tax Guide includes over 1300 pages of up-to-date taxation and business regulations covering over 150 of the world’s most significant trading companies. This guide is essential for anyone looking to keep up with the latest tax and business regulations. Featuring insights from in-country advisors across our global community, this … Continued The post The 2024/25 Worldwide Tax Guide is Here first appeared on JLK Rosenberger.
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JLK Rosenberger LLP
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2024-06-13
Additional Savings Through State R&D Tax Credits
Many businesses are familiar with the federal Research & Development (R&D) tax credit, which provides substantial savings for eligible companies engaged in qualified research and innovation activities. Credit has been an important funding component of many innovation programs for years, yet tax savings for eligible R&D activities do not end with federal incentives. In many … Continued The post Additional Savings Through State R&D Tax Credits first appeared on JLK Rosenberger.
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JLK Rosenberger LLP
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2024-06-11
Breaking Barriers: Daniel’s Journey from First-Generation College Grad to Aspiring CPA
In a family where attending college was unprecedented, Daniel’s journey from high school graduate to aspiring CPA is inspiring. His story shows the importance of guidance, perseverance, and the power of education. Early Influences Family traditions and expectations often play a significant role in the decision to attend college. For Daniel, however, the journey was … Continued The post Breaking Barriers: Daniel’s Journey from First-Generation College Grad to Aspiring CPA first appeared on JLK Rosenberger.
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PKF International News
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2022-01-26
PKF Sydney & Newcastle launches joint venture to support Australian start-ups
We are excited to share that PKF Sydney & Newcastle, one of our Australian member firms, has formed a new alliance with GHO to transform the service offering to start-ups in Australia.
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PKF International News
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2022-01-25
Cross-border collaboration delivers string of acquisition successes
We are proud to report that PKF International member firms in the UK, Ireland, Germany and the US have worked together to support Team17 Group plc on several recent acquisitions.
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PKF International News
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2022-01-25
PKF International welcomes new member firm in Africa
We have further strengthened our presence in Africa by welcoming PKF BAGE Sarl to the PKF family.
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PKF International News
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2022-01-24
PKF O’Connor Davies named on Forbes’ America’s Best Tax and Accounting Firms 2022 list
Our North American member firm, PKF O’Connor Davies, LLP, has been recognised as one of America’s top recommended tax and accounting firms in the prestigious Forbes’ listings for 2022.
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PKF International News
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2022-01-21
PKF member firm Hutchinson and Bloodgood LLP welcomes Damitz, Brooks, Nightingale, Turner and Morrisset into the fold
We are excited to announce that Hutchinson and Bloodgood LLP (H&B), our California-based member firm, has merged with fellow Californian firm Damitz, Brooks, Nightingale, Turner and Morrisset (DBNTM).
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PKF International News
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2022-01-19
PKF Texas announces new director promotion
We are delighted to report that Jamie Matte, a colleague at our member firm PKF Texas, has been promoted to Business Advisory director with effect from 1 January 2022.
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PKF International News
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2022-01-17
PKF Arsilon creates 80 new jobs in France
We are excited to announce that PKF Arsilon, our member firm headquartered in Paris, will be recruiting 80 new employees across France.
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PKF International News
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2021-12-16
Celebrating strong growth of Asia-Pacific PKF member firms
We are proud to report that PKF member firms in the Asia-Pacific region have achieved excellent growth over the last year, according to the most recent International Accounting Bulletin surveys.
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PKF International News
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2021-12-08
Precision Consultancy crowned the winner of Asia Emerging Accounting Partner of the Year
We are delighted to share that Precision Consultancy Sdn Bhd, our Asia-Pacific correspondent firm based in Brunei, has been announced as a winner at the Xero Awards Asia 2021.
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PKF International News
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2021-12-08
PKF Fasselt sponsorship prize awarded for 21st time
PKF Fasselt, our member firm in Germany, presented the FASSELT sponsorship award to six graduates from the University of Duisburg-Essen.
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PKF San Diego
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2016-08-12
How We Serve You
We offer scalable audit and tax solutions for any industry. Learn about how our comprehensive financial statement audits and reviews, tax planning and preparation and consulting services keep your business on track. The post How We Serve You appeared first on PKF.
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