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.
For many years, beneficiaries of inherited IRAs were permitted to withdraw the balances over their life expectancies. Then, the SECURE Act largely eliminated this tax deferral opportunity. Its effective date of December 31, 2019 could be called “The Day the Stretch IRA Died”.
If you are currently selling or considering the sale of your business, learn how to minimize transactional tax liabilities through effective tax structuring. This webinar will outline the various options to consider when creating a smart tax structure for the sale of your business.
Many Owners of partnerships, S Corporations, sole proprietorships, and rental real estate ventures can now earn up to 20% of their Qualified Business Income (“QBI”) tax-free through the QBI deduction.
Sean O’Connell, a PBMares Tax Service Line Leader, is presenting “Top 10 Tax Opportunities for Virginia Businesses” at the Virginia Society of CPAs Business and [...]