Global Tax Insights
2016 Year End Tax Planning Guide for Businesses—Download TodayDecember 30, 2016
Wondering how your business’ taxes will change in light of the 2016 election? Our year-end tax planning guide will walk you through the changes and opportunities ahead in 2017.
Businesses need to pay close attention to tax planning this last week of 2016. Tax cuts for businesses seem more likely in 2017 in light of the recent election, and new due dates will shake things up a bit. Download our extensive Year End Tax Planning Guide for Businesses for more information on how to prepare your business for 2017.
What’s inside the guide?
New tax filing deadlines- The IRS has swapped filing deadlines for partnerships and C corporations (partnerships now have a March 15th, 2017 due date, while C corps have an April 18th, 2017 deadline)—attempting to give partners access to tax information sooner and make it easier for them to prepare their personal tax returns by the April due date.
Special rules for vehicle purchases- New and used vehicle purchases may be eligible for Section 179 expensing, but special rules may reduce the benefit if the vehicle weighs 14,000 pounds or less. Find out more by checking out our guide.
Research and Development (R&D) Tax Credits- Congress and President-elect Donald J. Trump have suggested that this tax break will be retained in 2017, allowing more incentive and opportunity for businesses to develop and enhance their products.
Questions? Contact us.