5 Ideas to Help Small Businesses Reduce Taxes for 2022
Every fall, small business owners should review their tax situations to consider how they might reduce their federal income taxes for the current year — and beyond. Fortunately, no significant unfavorable federal tax law changes are expected this year. So, there’s more certainty regarding the tax rules today than this time last year. Here are five ideas to help reduce business taxes for 2022.
Key Tax Planning Considerations for the 2022 Tax Year
2022 has been marked by global uncertainty including supply chain issues, economic volatility, record inflation, and continued concerns about the impact of COVID. These factors not only constitute individual and business challenges, but they also require expert tax-planning strategies. As the calendar year draws to a close, now is the time to consider your 2022…
2022 Year-End Tax Planning Tips for Individuals
Now is the time to consider tax planning moves that may lower taxes for the 2022 tax year — and possibly set you up for tax savings in future years as well. Read on for strategies on Standard Deductions, taxable investment accounts, donations,
prepaying expenses, and more.
2022 Year-End Tax Planning Series
The Year-End Tax Planning Series provides a roadmap for taxpayers navigating the many tax planning opportunities available this year. The content includes guidance for the various provisions enacted to help US taxpayers recover from recent economic hardships and other developments that may impact this year’s taxes. More resources will be added as they become available….
Introduction to US Taxation for Inbound/Outbound Expatriates
Join Humentum and Industry Partner GRF CPA & Advisors to understand the key tax rules and concepts of expatriate taxation and unique tax planning opportunities that are available to the global workforce. During this session, we will discuss the essentials of the U.S. tax considerations for global workforce coming to the U.S. or moving outside…
IRS Issues Penalty Relief for Many Taxpayers
The Internal Revenue Service recently issued a notice (IRS Notice 2022-36) that provides broad penalty relief for specified delinquent 2019 and 2020 tax returns. For U.S. taxpayers who qualify, this relief will waive and refund delinquent filing penalties for many who filed their 2019 and/or 2020 tax returns late. Notably, certain penalties for international reporting…
Summary of Tax Provisions in the Inflation Reduction Act
The Inflation Reduction Act of 2022 (H.R.5376), hereafter “the Act,” was signed into law by President Biden on August 16, 2022. The law includes several tax implications including a 15% Corporate Alternative Minimum Tax, a 1% excise tax on certain stock repurchases, an extension of the excess business loss limitation, numerous environmental and green energy…
Biden Signs Inflation Reduction Act with New Clean Energy Incentives
GRF tax experts offer some preliminary highlights from the new legislation, including tax breaks and clean energy incentives.
Time to Check Your Beneficiary Designations
When estate planning, check your beneficiary designations annually, as circumstances change. Incomplete or outdated forms can cause major problems later!