#CorporateTaxation

[toptaxlawlirmindelhi]

Affordable Tax Law Firms in Delhi: Expert Legal Services

Introduction to Affordable Tax Law Firms in Delhi

Tax law can be complicated, but finding an affordable tax law firm in delhi doesn’t mean sacrificing quality legal services. Many tax law firms in Delhi offer expert legal counsel at competitive rates, helping businesses and individuals navigate the complexities of taxation while keeping costs in check. Whether you need assistance with tax planning, corporate taxation, or resolving disputes, affordable tax law firms are here to offer expert solutions without the hefty fees typically associated with large, high-end firms.

What Makes a Tax Law Firm Affordable in Delhi?

When searching for an affordable tax law firm in delhi, it’s important to understand what contributes to the cost-effectiveness of a firm. Key factors include:

Efficient Services: Affordable firms focus on delivering quality services with efficiency, minimizing unnecessary costs while ensuring clients receive effective solutions.

Transparent Pricing: Leading affordable tax law firms provide clear and upfront pricing with no hidden fees, making it easier for clients to understand what they’re paying for.

Experienced Legal Team: Despite offering cost-effective rates, many affordable firms maintain a team of experienced tax lawyers who specialize in handling a range of tax-related matters.

Tailored Solutions: Instead of offering generic advice, affordable firms provide personalized, targeted solutions that meet the specific needs of each client, ensuring value for money.

Key Services Provided by Affordable Tax Law Firms in Delhi

An affordable tax law firm in delhi can offer a wide variety of services to individuals and businesses, ensuring their clients can handle tax matters efficiently without breaking the bank. Some of the key services include:

Tax Planning and Strategy: Affordable tax law firms help clients optimize their tax position, minimize liabilities, and stay compliant with local regulations.

Tax Dispute Resolution: They offer expert representation in tax disputes, helping clients handle audits, assessments, and legal challenges.

Corporate Tax Services: Businesses benefit from cost-effective advice on corporate tax laws, mergers, acquisitions, and compliance with national and international regulations.

Indirect Taxes (GST, Customs, etc.): Affordable tax firms also provide legal services related to indirect taxes such as GST, customs duties, and other applicable levies.

International Taxation: For businesses with global operations, affordable tax law firms provide expert advice on cross-border tax issues at competitive rates.

These services are designed to meet the needs of both small and large clients, ensuring they can effectively manage their tax affairs without overpaying.

Why Aayati Legal is an Affordable Tax Law Firm in Delhi

Aayati Legal is one of the affordable tax law firms in delhi that offers expert legal services at competitive rates. The firm’s experienced team of tax lawyers specializes in a wide range of tax-related matters, from dispute resolution to corporate tax services, and they offer customized solutions for both individuals and businesses. Aayati Legal’s transparent pricing structure ensures clients receive high-quality legal advice without hidden costs, making it an ideal choice for those seeking an affordable tax law firm in Delhi.

How to Find the Right Affordable Tax Law Firm in Delhi

When searching for an affordable tax law firm in delhi, consider these key steps:

Assess the Firm’s Experience: Look for firms that specialize in tax law and have experience handling the type of tax issues you’re facing.

Check Pricing and Transparency: Ensure the firm provides clear pricing without hidden charges, helping you make an informed decision about the costs involved.

Review Client Feedback: Look for testimonials or reviews from previous clients to gauge the firm’s effectiveness and the quality of its services.

Evaluate the Range of Services: Choose a firm that offers a broad spectrum of tax-related services to meet your needs, from planning to dispute resolution.

By considering these factors, you can find an affordable tax law firm in delhi that offers the expertise you need at a price that fits your budget.

[mfiling]

Trust in our solutions at MFiling.com to make tax season a breeze. Contact us today!

[sophiasoni]

[alishajoy059]

Navigate India's income tax rates for FY 2022-23: Individuals below 60 taxed up to 30%, seniors and very seniors enjoy exemptions. Corps at 25-30%. Deductions help lower taxable income. Stay informed for effective financial planning.

[mna-business-solutions]

Corporate Tax Registration Services in UAE - MNA Business Solutions

Important Update on Corporate Tax in UAE-

FTA has made an important update regarding the specified deadlines for CORPORATE TAX REGISTRATION. Delay will attract penalty of AED 10,000/-.

No need to worry, WE ARE HERE to guide you through the hassle-free process of Corporate Tax Registration –

• Corporate Tax Registration.

• Avoid penalties.

• Get expert guidance

Do not delay, contact us today for a consultation and ensure a smooth transition into the new tax regime.

MNA Business Solutions

(Accelra Accounting Services)

Mobile – +971505398688, Email – info@mnauae.com

[enterprisewired]

EU Tribunal Adviser Calls for Review of Apple’s 13-Billion-Euro Tax Case

In a potential stumbling block for Apple, an adviser to Europe’s top court has recommended a reevaluation of the EU tribunal’s ruling in favor of the tech giant over a staggering 13-billion-euro ($14 billion) tax order. Giovanni Pitruzzella, the adviser, contends that the General Court committed legal errors in its decision and is calling for the Euro tax case to be revisited, raising questions about the fairness of multinational tax arrangements.

The Allegations

The tax dispute revolves around allegations that Apple enjoyed the benefits of two Irish tax rulings for over two decades, artificially reducing its tax burden to an astonishingly low 0.005% in 2014. Margrethe Vestager, the European Commission’s antitrust chief, has been at the forefront of cracking down on such deals between multinationals and EU countries, arguing that they constitute unfair state aid.

While the General Court had upheld Apple’s challenge in 2020, Pitruzzella disagreed, stating that the court committed legal errors and failed to properly assess certain methodological errors pointed out by the Commission. He recommended setting aside the General Court ruling and referring the Euro tax case back for a new assessment.

Ireland’s Position

Ireland, a pivotal player in the proceedings, maintains its stance that it did not provide any state aid to Apple. Michael McGrath, speaking on behalf of Ireland, emphasized that Pitruzzella’s opinion is non-binding and does not form part of the final judgment, underlining the complexity and ongoing nature of the legal saga.

Apple, which had appealed against the tax order along with Dublin, had already paid the full amount, which was being held in an escrow account. Despite the ongoing legal battle, Apple remains firm in its stance that it received no selective advantage or state aid.

Apple may have to pay a $14 billion tax bill to Ireland | Euro tax case

EU Court of Justice

The ruling from the EU Court of Justice (CJEU) is expected in the coming months, and typically, the court follows around four in five such recommendations.

This development adds another layer to Vestager’s mixed record in defending tax cases in court. While she secured a significant victory in September against a Belgian tax scheme, challenges by companies like Stellantis, Amazon, and Starbucks were backed by the judges.

Vestager continues her tax crackdown, investigating cases involving IKEA, Nike, and Huhtamaki. The outcome of the Apple Euro tax case, labeled as C-465/20 P Commission v Ireland and Others, will undoubtedly have broader implications for multinational tax arrangements within the EU.

Curious to learn more? Explore our articles on Enterprise Wired

[digitaxsales]

The Importance of Accurate Payroll

[ivygorgon]

An open letter to the U.S. Congress

Pass President Biden’s budget!

890 so far! Help us get to 1,000 signers!

At a time when working families are having trouble affording everything from healthcare to education to housing to food, we need a budget that lowers costs for millions of households―paid for by making the wealthy and big corporations pay their fair share.

President Biden’s FY2025 budget would expand the Child Tax Credit, expand Affordable Care Act subsidies to help millions of people afford healthcare in states that haven’t expanded Medicaid, invest in free pre-K for 2 million kids, implement a national paid family and medical leave program, provide free community college, expand Social Security’s modest benefits, and more.

It would also reduce the national debt by nearly $3 trillion.

He does this by raising the corporate tax rate, implementing a 25% tax on the wealth gains of billionaires and ultra-millionaires, ending tax breaks for excessive CEO pay, closing loopholes that encourage corporations to ship jobs and profits offshore, and much more.

I urge Congress to pass President Biden’s FY2025 budget to invest in working people and our future. By wide margins, the American people think that the wealthy and large profitable corporations should pay more of their fair share in taxes. So endorsing the president’s budget is not only good policy, it’s good politics. Thanks!

▶ Created on March 15 by Jess Craven

📱 Text SIGN PULPMC to 50409

🤯 Liked it? Text FOLLOW JESSCRAVEN101 to 50409

[transcendaccounting]

Unveiling the Secrets of Corporate Tax Efficiency with Transcend Accounting

At our firm, we specialize in aiding investors to expand their businesses across diverse nations, with a particular focus on the UAE. Our comprehensive services encompass everything from facilitating business establishment in the region—including Company Formation, Visa Procedures, and Bank Account Opening—to Managing HR, Payroll, VAT, Corporate Tax and accounting needs. We provide stress-free and worry-free business services that cater to all the requirements of our investors, ensuring seamless operations and optimal growth.

Strategic Planning: The Backbone of Tax Efficiency

At the core of enhancing corporate tax efficiency lies strategic planning. Our accounting team specializes in crafting bespoke tax strategies that precisely align with the unique needs and objectives of businesses. Through meticulous analysis of financial data and forecasting future trends, we assist businesses in optimizing their corporate tax structure to minimize liabilities and maximize savings.

Leveraging Local Tax Incentives

One of the key advantages of utilizing our accounting's corporate tax services in Dubai is tapping into the array of local tax incentives and exemptions. From free zone benefits to specific industry incentives, we have a deep understanding of the local tax landscape and can guide businesses in leveraging these opportunities to their advantage. By strategically positioning businesses within the appropriate tax jurisdictions, we can unlock significant cost savings.

Technology-Assisted Simplified Tax Procedures In the age of digitization, increasing tax efficiency requires the use of technology. we use state-of-the-art instruments and software to automate tedious work, reduce errors, and expedite corporate tax procedures. By using technology, businesses can save time and money on tax compliance, allowing them to focus on their core operations and key strategic initiatives.

Global Expansion:

Expanding your business globally opens up a world of opportunities, but it also introduces complexities in terms of taxation and compliance. corporation tax services are vital in helping companies who are expanding into foreign markets by offering them the necessary support. These services ensure compliance with tax rules and regulations in numerous jurisdictions and have the experience to navigate the complexities of cross-border taxation.

Peace of Mind:

Businesses can have priceless peace of mind knowing that their tax matters are being managed by appropriately qualified professionals when they use corporate tax services.

Taxation is a complex and ever-changing field, and attempting to manage it internally can be daunting and time-consuming for businesses.

We offer a pathway to financial optimization for businesses operating in the dynamic landscape of Dubai. By employing strategic planning, leveraging local tax incentives, and embracing technology, we empower businesses to maximize tax efficiency and save money. Achieving long-term financial success can be significantly increased by partnering with Transcend Accounting.

So, why not take the leap and explore the advantages of Transcend Accounting's corporate tax services in Dubai today?

[nordholm]

Unlocking Corporate Tax Efficiency: Nordholm’s Expertise in the UAE

The task of understanding and complying with corporate tax obligations can be overwhelming for businesses, given the intricate nature of the regulatory frameworks that are subject to continuous evolution. At Nordholm, our team of seasoned Professionals Specializes in Corporate Tax Compliance, offering unparalleled expertise to ensure your company thrives within the UAE's tax scheme.

The UAE Corporate Tax scheme, meticulously designed by leveraging successful global policies, aims to streamline tax compliance for organizations. While the majority of UAE-based companies are required to Pay Corporate Tax on their international financial profits, we adept professionals maneuver through these requirements seamlessly, ensuring utmost compliance.

Our experienced team ensures precise and efficient completion, utilizing their extensive knowledge to facilitate your company's tax management processes seamlessly. We prioritize understanding your business intricately – its products, services, and transactions. Our tax calculations are meticulously crafted based on this knowledge, ensuring they align impeccably with legal requirements. Leveraging our profound industry insights, we guarantee accurate tax assessments, allowing your business to fulfil its obligations appropriately.

As an accounting firm in the Pacific Northwest, we are proud to be known for our rapid expansion and outstanding performance. Our adept team specializes in overcoming common corporate hurdles such as tax issues, resource constraints, compliance challenges, and outdated accounting systems. Our Corporate Tax services offer a strategic advantage, ensuring meticulous and timely accounting practices.

We offer an array of specialized Corporate Tax services tailored to your business needs:

Corporate Tax Registration and de-registration

Corporate Tax Audit and Consultancy

Corporate Tax Implementation

Corporate Tax Return Filing

Corporate Tax Training and more

Partnering with Nordholm means Navigating Corporate Tax Compliance effortlessly, enabling your business to flourish while staying ahead of the ever-evolving tax landscape.

Whether you’re a budding enterprise or an established corporation, our expertise ensures your business is well-equipped to manage its tax responsibilities effectively within the UAE's regulatory framework.

[toptaxlawlirmindelhi]

Best Tax Lawyers in Delhi: Expert Legal Guidance

Understanding the Role of a Tax Law Firm in Delhi

When it comes to navigating the complexities of tax laws, a reliable tax law firm in delhi plays an essential role. These firms specialize in providing expert legal advice on matters related to taxation, helping businesses and individuals minimize their tax liabilities, resolve disputes, and stay compliant with tax regulations. Tax law firms in Delhi are equipped with experienced professionals who possess deep knowledge of both local and international tax laws.

What Sets the Best Tax Law Firm in Delhi Apart?

The best tax law firm in delhi stands out for its unparalleled expertise, professionalism, and a track record of success in handling a wide range of tax-related issues. Leading firms like Aayati Legal are known for their:

Specialized Expertise: Top tax law firms employ lawyers who specialize in various areas of tax law, ensuring clients receive the best possible representation.

Successful Track Record: Leading firms have a proven history of resolving complex tax disputes, offering strategic tax planning, and helping businesses navigate corporate tax matters.

Client-Focused Approach: A trusted tax law firm in delhi prioritizes the needs of their clients, ensuring every legal solution is tailored to their specific tax requirements.

Key Services Provided by Top Tax Law Firms

The best tax law firm in delhi offers a comprehensive range of services to individuals and businesses, including:

Tax Dispute Resolution: Expert representation in tax audits, disputes with tax authorities, and litigation.

Tax Planning and Strategy: Strategic guidance to minimize tax liabilities while ensuring compliance with tax laws.

Corporate Taxation: Offering legal advice on corporate tax issues, mergers, acquisitions, and corporate compliance.

International Taxation: Providing guidance on cross-border tax matters, ensuring businesses with international operations remain compliant.

Indirect Taxes (GST, Customs, etc.): Assisting clients with matters related to indirect taxes, including GST and other applicable levies.

These services ensure that clients can manage their tax affairs efficiently, minimizing risks while maximizing legal advantages.

Why Aayati Legal is the Leading Tax Law Firm in Delhi

Aayati Legal is recognized as a premier tax law firm in delhi, with a reputation for providing top-notch legal solutions to individuals and businesses. Known for their deep understanding of tax laws and a client-centric approach, Aayati Legal’s team works tirelessly to resolve tax disputes, provide corporate tax solutions, and offer practical tax planning advice. Whether you’re dealing with a tax dispute or need assistance with corporate tax matters, Aayati Legal is equipped to guide you through every aspect of tax law.

How to Choose the Best Tax Law Firm in Delhi

Choosing the right tax law firm in delhi is crucial for ensuring that your tax matters are handled with expertise and professionalism. Here are some key considerations:

Specialization and Experience: Ensure the firm specializes in tax law and has a successful track record in handling complex cases.

Range of Services: Choose a firm that provides a full range of tax services, from planning to dispute resolution.

Client Reviews: Look for testimonials and reviews from clients who have worked with the firm in the past.

Personalized Legal Advice: Opt for a firm that takes the time to understand your specific tax needs and provides customized solutions.

By following these guidelines, you can select the best tax law firm in delhi to represent your interests.

[timesofinnovation]

France's proposed corporate tax increase is set to have significant repercussions for the nation's economy, especially for its most prominent luxury brands. The government is eyeing an €8 billion hike in corporate taxes to manage the country's ballooning budget deficit. This plan would primarily target successful companies generating more than €1 billion in revenue within France, including the luxury giant LVMH, which is expected to face an additional tax burden of up to €800 million. Analysts have been closely examining the possible impacts on French corporations, especially those listed on the CAC 40 index. Recently, several companies have disclosed their projected tax liabilities, revealing a combined increase of approximately €2.8 billion in taxes across ten major firms. Notably included among those firms are Vinci SA, a toll-road operator; Safran SA, a producer of jet engines; and Hermès International, famed for its high-end handbags. The ramifications of heightened taxation could extend beyond immediate fiscal consequences. According to Mabrouk Chetouane, head of global market strategy at Natixis, there is a risk that these tax increases may extend beyond their initially promised expiration in 2026. If firms begin to perceive this as a long-term rather than a temporary adjustment, the attractiveness of French equities could diminish, impacting investments across various sectors. In an environment where confidence among investors is critical, continuous shifts in government policy can become a deterrent. The fortunes of the CAC 40 have not been particularly favorable this year, falling behind their European counterparts. Increased government instability and the looming threat of substantial budget cuts to address the “colossal” national debt further complicate the investment climate. Prime Minister Michel Barnier’s draft budget delineates a preliminary framework for an increase in taxes targeting about 440 high-earning companies. This tax is intended to generate significant revenue over two years, with projections of €8 billion in 2025 and €4 billion in 2026. However, the National Assembly's recent rejection of a revised version of this proposal indicates ongoing tensions within the government, which could affect financial markets if not addressed satisfactorily. Should the tax plan proceed, earnings growth for the French index might drop from an anticipated 14% to 10%. Analysts assert that this change is substantial when compared to other European markets and is clearly not encouraging news for investors in French stocks. The impact of this proposed tax increase is projected to be particularly pronounced across key sectors such as luxury, construction, and defense industries. Research from Oddo BHF indicated that for 17 companies, the elevated taxes could reduce earnings per share by 4% or more over the next two fiscal years. Poultry producer LDC SA stands to incur the largest impact, with potential declines averaging 8.3%, followed by construction companies Eiffage SA and Bouygues SA, which might see a decrease of around 7.3% to 7.9%. The automotive sector is also bracing for impact. Stellantis NV, which oversees France's Peugeot and Citroen brands, has expressed concern, with CEO Carlos Tavares highlighting how these proposed taxes could significantly inhibit investment. He described this move as a “short-term choice” that could harm medium-term economic prospects, though he refrained from providing specific financial figures. Interestingly, while some firms may experience substantial impacts from these tax hikes, others are less concerned due to their diverse operational footprints. Companies like TotalEnergies SE and the luxury group Kering SA have indicated they do not foresee significant drawbacks, thanks to their global market reach. Roland Kaloyan, an analyst at Societe Generale, observed that the overarching instability surrounding these tax proposals is likely to unsettle investor confidence more than the tax itself would.

A stable government that clearly articulates its fiscal strategies can instill confidence, whereas constant changes in policy can confuse and deter potential investments. In conclusion, the proposed tax hike in France is a double-edged sword. While it may address pressing fiscal needs, it poses a substantial risk to the attractiveness of French companies, especially in the luxury sector. How the government navigates this complex scenario will be crucial for preserving investor confidence and ensuring sustained economic growth. LVMH, as a leader in the market, will need to strategize carefully if it hopes to mitigate the effects of these impending changes. Strengthening its global presence and diversifying its portfolio may become essential strategies for navigating the future landscape of the luxury market amidst fluctuating governmental policies.

[blzbusinesslicensezone]

All About Corporate Tax in UAE and How it Impacts your business

Corporate tax in the UAE is a significant shift for businesses that have long enjoyed tax-free environments. This article explores the newly introduced corporate tax regime in the UAE, its implications for local and international companies, and how businesses can prepare for the upcoming changes. Learn about the tax rates, exemptions, and the specific impact on various industries in the UAE.

[finlotax]

Impact the Tax Cuts and Jobs Act (TCJA) has on Individuals and Businesses

The Tax Cuts and Jobs Act (TCJA), which took effect on 1 January 2018, involved a major overhaul of the existing taxation code. It aimed to reduce tax rates for individuals, corporations, and households, apart from simplifying tax records maintenance and paperwork. Both personal and corporate income tax rates and bases underwent drastic changes, the ramifications of which will be felt in 2025 when certain exemptions under the act expire. To better understand the impact the Tax Cuts and Jobs Act (TCJA) is likely to have on your personal and business taxes, let's delve into a few of the Act’s major provisions.

Some of the most talked facts about provisions of this Act include;

Reducing the maximum corporate income tax and creating a single flat rate for corporate taxes

Temporary drop in individual income tax rates

Deduction for pass-through income

Restructuring of international tax rules

Removing the mandate on adequate health insurance

Abolishing of corporate alternative minimum tax

Increase in the standard deduction

Estate tax exemption

Individual alternative minimum tax exemption

Notably, many of the benefits to individuals under this Act will expire in 2025

Let’s examine how the provisions of TCJA impact individuals and businesses.

Impact of TCAJ on individuals

The TCAJ applies to individuals based on how much they earn and which tax bracket they fall under. The consensus is that TCAJ favors those with higher incomes, while those with the lowest incomes would have to pay more taxes once the provisions about individual taxes expired in 2025.

1. Fall in personal tax rates

One of the major provisions of the TCAJ was a reduction in the personal tax rates. While keeping the seven tax brackets of the previous act intact, tax brackets that were previously 39.6%, 33%, 28%, 25%, and 15%, were reduced to 37%, 32%, 24%, 22%, and 12%. The TCAJ did not make changes to the lowest bracket rate of 10%. It also retained the 35% bracket without rate changes. These are temporary tax cuts and will expire in 2025.

2. Higher standard deduction permitted

The TCAJ increased the standard deduction permitted to single filers and married couples. In 2024, single filers could deduct $14,600, while married couples who file joint returns could deduct $29,200. For tax filings in 2025, single filers will be permitted a deduction of $15,000 and married couples filing joint returns will be permitted a deduction of $30,000.

3. Mandatory health coverage removed

The mandatory health coverage requirement under the Affordable Care Act has been removed. This means that individuals who do not have health insurance coverage will not be penalized under the TCJA.

4. Creation of individual retirement accounts

The TCJA aimed to improve the retirement prospects of all Americans with the Setting Every Community Up for Retirement Enhancement (SECURE) Act which permits the creation of individual retirement accounts for senior citizens over 73 years old.

5. Increase in child tax credit

Under the TCJA, the child tax credit was increased and a non-refundable credit was created for non-child dependents. The changes will expire in 2025.

6. Exemption for estate tax

The Act has provided a temporary estate tax exemption which will end in 2025. Single filers can claim a maximum exemption of $13.6 million in 2024 and $13.99 million in 2025.

7. Student debt allowance

The TCJA permits the funding of K to 12 private school tuition by 529 plans up to an amount of $10,000 per annum per child.

8. Temporary suspension of personal exemption

The personal exemption amounting to $4,150 permitted under the previous tax regime has been suspended by the TCJA until 2025.

9. Increase in Alternative Minimum Tax

The TCJA has temporarily raised the exemption and exemption phase-out threshold under the Alternative Minimum Tax (AMT) applicable to individuals earning income above a certain level. The AMT stipulated that a tax filer was required to pay the government a minimum percentage of taxes, without taking into consideration any applicable tax deductions or credits. The AMT also allowed a certain amount to be treated as an exemption.

10. Limit on mortgage interest

The mortgage interest deduction permitted to married couples filing jointly has been temporarily limited to $7,50,000 worth of debt under TCJA until the end of 2025.

Impact of TCAJ on Businesses

1. Corporate tax rates cut down

TCAJ cut down corporate taxes from 35% to 21% in a bid to stimulate economic growth in the private sector. This is a permanent cut unlike the one for individuals. Corporate AMT was also repealed.

2. Increased deduction for short-term capital investments

Short-term capital investments no longer need to be depreciated over time but can be considered as immediate expenses under Sec 179 of the TCJA.

3. Deduction for pass-through businesses

Pass-through businesses such as sole proprietorships, S-corporations, and partnerships can now avail of a 20% deduction on pass-through income, subject to certain capping.

4. Cap on the deduction applicable to interest income

The TCJA caps the net interest deduction at 30% of earnings before considering interest and taxes.

5. Alteration to accounting mode

Under the old tax laws, businesses with $5 million or less in average annual gross receipts during the previous three years could adopt the cash mode of accounting. Under the TCJA, this law has been extended to cover businesses with 3-year average annual gross receipts up to $25 million.

6. Alteration to the law on net operating loss

Net operating loss carrybacks are no longer permitted under the TCJA, while carryforwards are capped at 90% of taxable income.

7. Abolition of Sec 199 deduction

The Sec 199 deduction for businesses engaged in production work and other domestic manufacturing activities, has been scrapped under the TCJA.

8. The territorial tax is introduced

The TCJA ushered in the territorial tax system which levied taxes on business income earned domestically. The Base Erosion Anti-abuse Tax (BEAT) was promulgated to counteract base erosion and profit shifting. Companies whose yearly gross receipts cross $500 million fall under the purview of BEAT.

9. Altered mode of handling intangible property

The TCJA changed how a company’s overseas intangible property, such as patents, copyrights, and trademarks, was treated for taxation purposes and brought in the Global Intangible Low-taxed Income (GILTI) rules.

The TCJA resulted in a major overhaul of the existing federal tax codes. However, many of the changes brought in are likely to expire at the end of 2025. Whether the provisions of the TCJA will be extended, altered, or permitted to lapse depends on what lawmakers decide after 2025. Hence, you can expect significant changes in the US tax code beginning in 2026.

Finlotax: A professional tax consultancy firm in CA

We are Finlotax, your dependable taxation firm in CA. We can assist you in effectively dealing with all your TCJA compliance issues. If you need help with your firm’s taxation or bookkeeping, take advantage of our competitively priced CFO, bookkeeping, tax prep, tax planning, payroll, and compliance solutions. For further details, you can contact us at 4088229406.

[sophiasoni]

Corporate Tax Preparation Course: A Guide For Canadian Businesses

[bluespringsincometaxpreparation]

No matter who wins the presidential election next week, let's lay out the impact of each client's tax plans on your wallet. With a Trump administration... 🍁 Extended TCJA provisions = lowered income tax brackets, maintaining the higher standard deduction, reduced taxes for business owners (think QBI) and corporations 🍁 Taxes on Social Security benefits would end entirely. 🍁 Overtime hours worked would not be taxed. 🍁 A 10-20% tariff would be imposed on most imported goods -- a 60% tariff on goods specifically from China. With a Harris-led administration... 🍁 Increased child tax credit (from $2,000 to $3,600 for younger children; up to $6000 for a baby’s first year) 🍁 First-time homebuyer down payment assistance (aka $25,000 tax credit) 🍁 The deduction for small business startup costs would jump from $5,000 to $50,000 🍁 Medicare taxes bumped up to 5% for those who make more than $400,000 annually 🍁 Raised corporate income tax rate (from 21 to 28%) 🍁 Raised capital gains tax (from 20 to 28%) for those who make 1 million or more annually. We're here in your corner to help guide you through, no matter the outcome.