by JH | News tax insight | Dec 2, 2024 | Small Business Tax Planning
As the year-end approaches, taxpayers and professionals should focus on strategies to optimize their tax position for 2024. Among the most effective tools available is the prepayment of expenses. This strategy enables taxpayers to accelerate deductions, reduce taxable...
by JH | News tax insight | Dec 2, 2024 | International Tax
On November 29, 2024, the U.S. Department of the Treasury and the IRS issued proposed regulations addressing the taxation of previously taxed earnings and profits (PTEP). These proposed regulations provide critical guidance on PTEP accounting, related basis...
by JH | News tax insight | Nov 27, 2024 | BOI Report
In our ongoing series on Beneficial Ownership Information (BOI) reporting, we focus today on a critical question for tax professionals: What type of tax identification number (TIN) should be reported by a disregarded entity? Key Considerations for Disregarded Entities...
by JH | News tax insight | Nov 27, 2024 | Controversy Tax, International Tax, International Tax
Denial of Tax-Exempt Status: Students and Academics for Free Expression Case Navigating the complexities of tax-exempt status can be a challenge for organizations. The case of Students and Academics for Free Expression, Speech, and Political Action in Campus...
by JH | News tax insight | Nov 26, 2024 | Tax Deductions
The Lifetime Learning Credit (LLC) is a valuable tax credit designed to encourage continued education and skills development. Whether you are pursuing a degree, enhancing your professional skills, or taking courses to advance your career, the LLC can help offset the...
