Amid rising interest rates, the Section 163(j) business interest expense deduction has a more limited impact for real estate companies and other capital-intensive businesses starting in 2022. There are other financing strategies to mitigate the impact of the lower deduction.
The Inflation Reduction Act was signed into law on August 16. This webinar will guide you through the significant tax law changes and how they may impact you.
Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
IRS guidance helps taxpayers navigate the transition from existing rules for claiming EV credits to new rules enacted by the IRA including ways to verify an EV vehicle will qualify going forward.
Today, The Inflation Reduction Act of 2022 was enacted. Through its sweeping law changes on health care, climate, and taxes, the Act presents a few new opportunities for beneficial tax strategies. In general, the Act results in few tax increases to PBMares clients.
The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Tax proposals in a revived reconciliation measure include a 15% corporate minimum tax, a boost to IRS enforcement and carried interest modifications.
Virginia’s tax credit education scholarship program saw its funding fully restored in the new state budget. The EISTC program allows eligible donors to claim a 65% tax credit against five state taxes.
Pass-through entity elections are creating tax planning complexity. This article explains what you need to know and what you should do next.
Tax planning strategies can help businesses experiencing higher interest expense due to inflation, increased interest rates and lower tax deductions.