Marcum LLP, a Prime 20 Agency primarily based in New York, launched its 2021 Yr-Finish Tax Information on Monday, offering a variety of tax-planning methods and concerns for subsequent yr.
The 71-page report accommodates over two dozen articles and reference tables spotlighting latest adjustments in tax legal guidelines and the potential results of pending laws.
“In some ways 2021 was much more difficult for taxpayers than 2020, when the pandemic financial system first took maintain,” mentioned Joseph Perry, nationwide chief of Marcum’s tax & enterprise companies division, in an announcement. “COVID-19 aid payments enacted in December 2020 and March 2021 made plenty of tax regulation adjustments that have an effect on 2021 tax filings for each people and companies. The complexities of COVID aid functions, compounded by provide chain disruptions, the extreme labor scarcity, and the sudden spike in inflation, was a real check for middle-market firms. How taxpayers might be impacted by new and pending laws, and what measures they make use of to proceed to thrive and stay nimble amid the confusion, underscores the intense significance of planning for numerous eventualities going into 2022.”
The information accommodates up-to-date details about the bipartisan infrastructure invoice, the Restaurant Revitalization Fund, self-employment tax concerns for LLC members, equity-based compensation, reward and property tax planning alternatives, nonprofits, switch pricing, the true property business, analysis and improvement tax credit, state and native tax updates, state tax nexus, pass-through entity tax workarounds by states, state telecommuting and residency concerns, the kid tax credit score, and different matters.
The 2021 Marcum Yr-Finish Tax Information might be downloaded at https://data.marcumllp.com/2021-marcum-year-end-tax-guide.