As Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year.
FILE - A cash register is seen on the front counter at the Alpha Shoe Repair Corp., Feb. 3, 2023, in New York. As Tax Day, April 15, approaches, there are plenty of things small business owners should keep in mind when filing taxes this year.
This gives your tax provider adequate time to file a return. And it’s cheaper to file an extension than an amended return, which costs more in administrative fees. But starting in 2022 due to new legislation, companies have had to “capitalize” the expense – or spread it out over several years. That means they must now write off the expenses over five years for U.S.-based R&D, or 15 years for foreign R&D expenses.
. That’s because the penalties are based on the federal short term interest rate plus three points, said Danny Castro, Florida Market Tax Leader at BDO USA, part of BBO Global, a global accounting network.One credit to skip: the ERC
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Election Day, STEM Day, Amplify Austin Day, and More Days to Remember This WeekOur guide to community events for the week
Read more »
Tax changes small business owners should be aware of as the tax deadline loomsAs Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year.
Read more »
Tax changes small business owners should be aware of as the tax deadline loomsAs Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year
Read more »
Tax changes small business owners should be aware of as the tax deadline loomsAs Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year. April 15 is still the annual tax deadline for many small businesses although, unlike individuals, small businesses can have varying deadlines depending on the type of company, the state the taxes are filed in, and other factors.
Read more »
Tax changes small business owners should be aware of as the tax deadline loomsApril 15 is still the annual tax deadline for many small businesses although, unlike individuals, small businesses can have varying deadlines depending on the…
Read more »
Ex-California tax preparer gets 10 years for tax fraud that targeted 13 statesProsecutors say Stephen Jake McGonigle tried to claim more than $10 million, and did get $1.2 million.
Read more »