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U.S. Taxpayers Living Abroad May Have Opportunities to Claim Tax Refunds for Foreign Tax Credits Applied Against Net Investment Income Tax by Andrew Leonard, CPA
Berkowitz Pollack Brant - 2024-07-17

U.S. Taxpayers Living Abroad May Have Opportunities to Claim Tax Refunds for Foreign Tax Credits Applied Against Net Investment Income Tax by Andrew Leonard, CPA

A recent decision by the U.S. Court of Federal Claims may open the door to a potential deluge of requests for tax refunds from U.S. citizens and resident aliens living or working in foreign countries with which the U.S. has an income tax treaty. In Christensen v. United States, the court interpreted the U.S.-France Income […] The post U.S. Taxpayers Living Abroad May Have Opportunities to Claim Tax Refunds for Foreign Tax Credits Applied Against Net Investment Income Tax by Andrew Leonard, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Unlocking Tax Advantages: How to Qualify as a Real Estate Professional
JLK Rosenberger LLP - 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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Essential Updates for Employee Benefit Plan Sponsors: Insights from the AICPA Conference
PKF Texas - 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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How Upcoming Elections Could Impact Your Tax Bill
PKF Texas - 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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Berkowitz Pollack Brant - 2024-07-11

4 Mistakes to Avoid with 1031 Exchanges of Real Estate by Yovanny Hernandez, CPA

For more than a century, Section 1031 of the U.S. tax code has carved out a unique opportunity for qualifying individuals and businesses to defer federal capital gains tax on the sale of highly appreciated real estate held for investment or business use when they reinvest the sales proceeds into a similar, like-kind property. These […] The post 4 Mistakes to Avoid with 1031 Exchanges of Real Estate by Yovanny Hernandez, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2024-07-10

Is Cash or Accrual Accounting Best for My Business Structure? by Shanna Shim, CPA

Small and midsize businesses generally have two options for maintaining their financial books and records: the cash and accrual methods of accounting. While each approach offers businesses unique benefits at different stages of their life cycles, business owners must recognize when they should transition from one method of financial accounting to the other. The cash […] The post Is Cash or Accrual Accounting Best for My Business Structure? by Shanna Shim, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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Berkowitz Pollack Brant - 2024-07-09

Florida Introduces Tax Credit for Businesses That Hire Persons with Disabilities by Karen A. Lake, CPA

Florida’s Department of Revenue (DOR) is offering qualifying businesses a tax credit against their state corporate income and franchise in tax years 2024, 2024 and 2026 when they hire qualifying employees with physical or intellectual impairments. The maximum tax credit available to qualifying businesses is $10,000 per year. Florida’s Individuals with Unique Abilities Tax Credit […] The post Florida Introduces Tax Credit for Businesses That Hire Persons with Disabilities by Karen A. Lake, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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JLK Rosenberger LLP - 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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PKF International News - 2024-07-09

Unparalleled people experience at PKF member firms

Our member firms across the globe strive to create a working environment where every team member can achieve their best. We’re delighted that several of our member firms have recently received awards in recognition of their efforts in this area.

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Berkowitz Pollack Brant - 2024-07-08

Cybersecurity Training Alone is Insufficient to Prevent a Phishing Attack by Brandon Bowers

Phishing scams and business email compromises (BECs) continue to make headlines, holding the titles as the most common cybersecurity breach method and the most frequently reported crimes to the FBI’s Internet Crime Complaint Center (IC3). Yet, even as businesses step up efforts to help employees learn to recognize the warning signs of these attacks, criminals […] The post Cybersecurity Training Alone is Insufficient to Prevent a Phishing Attack by Brandon Bowers appeared first on Berkowitz Pollack Brant Advisors + CPAs.

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