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Tax Implications of Running a Home Remodeling Business.

Strategies Concerning Material Costs, Labor Charges, And Deductibles To Home Renovation Enterprises. Home renovations and remodeling are an ever changing universe of imagination and purpose. Homes are redesigned – enhancing space livability and increasing property worth. Home renovation and remodeling

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Tax blog
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Tax planning strategy for architecture and design firms.

Capitalizing on Capital Expenses and Creative Incentives: A Comprehensive Approach Financial management is essential for the architectural and design industry which greatly depends on creativity and innovations. They want to concentrate on producing beautiful images and quality jobs. But architecture

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Tax blog
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Television production landscape and tax navigation.

Comprehensive Guidance for Navigating Tax Complexity in TV Production: Credits, Deductions, and Compliance Financial matters are no less significant in the fascinating world of TV productions in which tales emerge and fictional characters appear. Producing great TV shows is very

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 Exhibit 5 – Individual Tax Rates 2023

Tax Rate Single Married filing jointly Married filing separately Head of household 10% $0 to $11,000 $0 to $22,000 $0 to $11,000 $0 to $15,700 12% $11,001 to $44,725 $22,001 to $89,450 $11,001 to $44,725 $15,701 to $59,850 22% $44,726

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Exhibit 4 – State Sales Tax Nexus Chart

Receipts Threshold Transactions Threshold Evaluation period: Includable Sales (Gross, Retail, or Taxable) When You Need to Register Once You Exceed the Threshold Alabama AND municipalities 250000 Threshold applies to sales from the previous calendar year Retail sales. Marketplace sales excluded

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Exhibit 3 – State Income Tax Nexus Chart

STATE PHYSICAL NEXUS ALABAMA Corporations organized or commercially domiciled in this state have nexus in Alabama. If a corporation is not organized or commercially domiciled in Alabama, and the activities do not exceed the standard of “mere solicitation of sales”

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Exhibit 2 – Investor Tax Outcomes Table

Start Up Investor Tax Outcomes Tables US Start-Up Stock or SAFE Note US Residents US Non-residents Types of income Conditions Tax outcomes Tax outcomes Gains on sale Short term Held for one year or less Up to 40.8% No income/tax

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US Tax And Filings For Non-Residents

When a person is not a U.S. resident or files a tax form to claim their non-residency, they need to pay tax only on the income from U.S. sources. Therefore, the first order of business would be to determine which

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US Filings For Residents

Residents report their worldwide income and file various forms regarding their foreign asset ownership and income. The tax calculation in the earlier chapters describes how a resident would calculate their tax for the year. Here we emphasize the importance of

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