article thumbnail

Navigating Potential Changes to Corporate Tax Rates

Insightful Accountant

Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.

article thumbnail

Meta, Google face digital tax in New Zealand beginning in 2025

Accounting Today

New Zealand will introduce legislation this week that enables a digital services tax on large multinational companies, though the levy won't be imposed until 2025.

Tax 246
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Understanding 2025 tax policy risks as election approaches

Accounting Today

In less than 30 days, Americans will elect the politicians who will set policy for the next two years in Congress and four years at the White House.

Tax 182
article thumbnail

FASB approves income tax reporting standard

Accounting Today

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

Tax 350
article thumbnail

Get set up for the new tax year with Xero Payroll

Xero

Here are some key updates you need to know about, as well as our tips for a smooth transition into the 2025 financial year. These include changes to National Insurance (NI) contributions effective from 6 January (followed by a second change effective 6 April), a new Scottish tax band and holiday pay reform.

Payroll 194
article thumbnail

How does entity choice affect QBI deductions?

Accounting Today

With the Qualified Business Income tax deduction of 20% set to expire in 2025 (unless it's extended), clients who are starting a business may wonder how their choice of entity will impact their QBI deduction and ultimately their bottom line.

Tax 157
article thumbnail

Budget 2024: Insights into the SkillsFuture Level-Up Programme

Counto

Subsidised Full-Time Diploma Pursuits : Recognising the importance of continuous upskilling, mid-career Singaporeans will receive support to pursue another subsidised full-time diploma at polytechnics, Institute of Technical Education (ITE), and arts institutions starting from the 2025 academic year.