On November 5, 2021, Congress passed a $550 billion Infrastructure Investment and Jobs Act. This bill is separate from the Build Back Better Act, which includes the highly discussed and more significant tax proposal changes. Read on for a summary of tax changes passed by the infrastructure bill and proposed changes from the Build Back Better Act.
Join PBMares on November 3 to discover the top 10 tax strategies businesses should consider before year-end, including traditional tax strategies, remaining COVID-19 incentives, and opportunities expiring at year-end.
Source: RSM US LLP. With the coronavirus pandemic consuming attention and companies focusing on implementing safety, readiness and response measures, a surge in potentially harmful phishing scams has emerged.
Source: RSM US LLP. With the coronavirus pandemic consuming attention and companies focusing on implementing safety, readiness and response measures, a surge in potentially harmful phishing scams has emerged.
There are many tax changes proposed in the Build Back Better Act. PBMares has detailed a dozen tax changes (including an update October 28th) that would change the tax landscape and would require many taxpayers to re-evaluate their tax positions.
North Carolina is on the verge of passing major tax changes affecting corporate, pass-through, and individual taxpayers. If passed, the state's corporate income tax would be eliminated and 250,000 taxpayers would be removed from state tax rolls.
The new Global Intangible Low-Taxed Income (GILTI) regime imposes U.S. tax on foreign earnings of certain foreign corporations whether or not the profits are repatriated to the U.S. owner.
Do you qualify for the Employee Retention Credit? Download our ERC flow chart to help determine whether or not you are eligible.
With the tax filing season just around the corner, I repeatedly hear the question, “can I deduct my home office?” The answer varies as the IRS has a more restrictive definition of the home office than those heard in ordinary conversation.
The Tax Cuts and Jobs Act significantly reduced the number of taxpayers who itemize deductions (meaning those who actually see a tax benefit for donations made) beginning with the 2018 tax year.
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