Challenges of Inflation for Nonprofits
The challenges of inflation can be difficult for nonprofits to overcome. But there are steps that nonprofits can take to limit inflation’s negative impact.
IRS Announces Significant Annual Inflation Adjustments for over 60 Tax Provisions for 2023
The IRS announced its annual inflation adjustments on October 18 in Revenue Procedure 2022-38. As expected due to soaring inflation over the past year, the tax adjustments are significant this year with most adjustments increasing around 6 to 7 percent.
Exempt Organization Inflation Adjusted Items for 2023
Rev. Proc. 2022-38 provides the annual inflation adjustments for more than 60 tax provisions, including those affecting exempt organizations.
IRS Releases 2023 Tax Inflation Adjustments
IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code.
Amid Rising Interest Rates, the Ability to Deduct Interest Expenses Is Lower In 2022
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.
5 Key Business Issues Restaurants Are Facing
Business issues and challenges for restaurants range from maintaining agile business operations to addressing a tight labor market.
The Impact of Inflation on Commercial Real Estate
Commercial real estate is usually known as a hedge against inflation. Is that still the case? There are many variables to consider and investors need to look at the whole picture.
High Inflation with Inventory? Consider a LIFO Election for the 2022 or even the 2021 Tax Year if You Received an Extension
When inflation is high, certain companies could use it as an opportunity to save on taxes. Electing LIFO for the 2021 tax year might be a smart move, but time is running out. It’s also not too early to begin evaluating LIFO calculations for 2022.