Published On: October 13th, 2021|By |Categories: RSM, Article, Tax|3.7 min read|

INSIGHT ARTICLE  | 

Authored by RSM US LLP

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Year-end is a critical time for businesses to think carefully about how to achieve their goals in an ever-evolving tax landscape. RSM US LLP’s 2021 year-end tax guide reflects the tax considerations and developments that we believe may create risk or opportunity.

Challenges and disruptions have continued this year as the pandemic lingers and legislative cycles churn. In March, Congress passed the American Rescue Plan Act, a $1.9 trillion relief and stimulus package that included tax law changes, program modifications and economic impact payments to individuals. Before that, a change in administration and power shift in the Senate introduced to the policy landscape a wide-ranging tax agenda that has garnered much attention and debate. The Made in America Tax Plan proposes major tax changes affecting businesses and multinationals. It hangs in the balance of the budget reconciliation process as the end of 2021 approaches, underscoring the importance of thoughtful planning.

Indeed, careful consideration of the evolving nature of the tax laws and regulations can help you make informed decisions about year-end planning that help you achieve your business objectives in 2021 and beyond.

Within the guide you will find guidance on:

  • Accounting methods
  • Federal credits and incentives
  • Excise taxes
  • Compensation and benefits
  • Corporate and transactional considerations
  • International tax issues
  • Considerations for pass-through entities
  • State and local tax topics

WANT TO LEARN MORE? REGISTER TO ATTEND OUR TAX SUMMIT WEEK.

Do you have questions or want to talk?

Call us at (800) 232-9547 or fill out the form below and we’ll contact you to discuss your specific situation.

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This article was written by Patti Burquest and originally appeared on 2021-10-13.
2021 RSM US LLP. All rights reserved.
https://rsmus.com/what-we-do/services/tax/federal-tax/2021-year-end-tax-considerations-for-businesses.html

The information contained herein is general in nature and based on authorities that are subject to change. RSM US LLP guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. RSM US LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein. This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.

RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.

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Insero & Co. CPAs, LLP is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.

Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise, and technical resources.

For more information on how Insero & Co. CPAs can assist you, please call (800) 232-9547.

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