Finance Chairman Seeks ‘Billionaires Income Tax’
Finance Committee Chairman Ron Wyden, D-Ore., has released a proposal for a special new tax on high-net-worth individuals.
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Business Tax
Tax laws and regulations change constantly and business owners and corporate CFOs do not always have the time to keep up with all the new tax legislation. The experienced tax CPAs at Frazier & Deeter provide sophisticated and timely tax advice to help you minimize taxes while adhering to regulations.
Many of our tax professionals worked with national CPA firms before joining Frazier & Deeter and they have extensive experience in corporate and individual tax issues. Our tax clients include public, private and nonprofit organizations of all sizes operating across industries. We have specialists in areas like nonprofit and tax implications of multi-national operations.
Expertise for Business Owners
We assist business owners in determining how to structure their business, such as whether they should become an S corporation, a C corporation, or an LLC. Choosing the legal form for operating a business dramatically impacts after-tax cash flow available to owners, the deductibility of employer fringe benefits, personal liability and more. Some of the crucial items to consider when starting a business include the company’s overall method of accounting, its tax year-end, inventory valuation method and debt versus equity capitalization.
A close relationship is maintained with a company’s owner to ensure that overall business strategies complement their individual tax situation. Because we know that each client has different needs and goals, we meet with them periodically to discuss their individual and business related issues.
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Treasury Offers Facts v. Fiction Points On Reporting
Because of the controversy surrounding bank account reporting and the “widespread mischaracterization” of the plan, the Treasury Department has taken the unusual step of releasing a fact sheet in advance of bill passage.
Tax Increases Still Possible In Huge Infrastructure Bill
The $3.5 trillion infrastructure bill has cleared the House tax writing committee and now is the subject of intense negotiations to move it forward.
Will Global Minimum Tax Become a Reality?
After competing for the lowest tax rates for years, 132 countries holding 90% of the world’s GDP have agreed to a framework for a global minimum tax on corporations. The plan, described in an OECD Statement, is a two-pillar package…
Corporate Tax Increases to Fund Infrastructure Plan
Increasing the corporate tax rate to 28% is the cornerstone of President Biden’s Made in America Tax Plan, unveiled as part of a proposed $2 trillion infrastructure and jobs program. Other tax provisions target international profit shifting, offshoring incentives and…
Taxpayers Have Choices Under Income Exclusion Regs
The timing of income inclusion for taxpayers using the accrual method is explained in IRS final regulations, reflecting changes made by the Tax Cuts and Jobs Act. The regulations focus on taxpayers with an applicable financial statement and those that…
Executive Compensation Deduction Rules Allow More Transition Relief
The IRS has finalized rules for the deduction limitation on executive compensation which was revised by the TCJA. The 2017 changes further restricted the deduction, applying it to the five top executives of large publicly held corporations, including the Principal…
Untangling the Technical | Biden’s Tax Plan: What to Expect
What could a change in administration and a shift in Senate majority mean for taxes? Frazier & Deeter tax experts LeighAnn Costley and Bryce Nations discuss potential tax changes by the Biden administration. Listen now using the player below or…