2023 Marcum Year-End Tax Guide

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Table of ContentsTable of Contents
Letter from Our Tax LeaderLetter from our Tax Leader
Marcum 2023 Federal Tax Year in Review5
ey Considerations for 2024 Corporate Tax Planning, Including Capitalizing Technology Expenditures, and the IRS’ Use of Artificial Intelligence23
The Migration of High-Net-Worth Individuals to Low- Income Tax Jurisdictions27
Comprehensive Tax Strategies: Maximizing Your Estate and Gift Exemptions30
Untapped Potential: Why Companies Overlook Millions in State Incentives36
States’ Effort to Find and Collect Unclaimed Property is on the Rise39
The Hidden Costs of Non-Compliance: The Importance of Sales & Use Tax41
A Year in Review: SALT Trends and Highlights43
State Tax Considerations for NFTs51
Navigating the Complexities of US Tax Law: Strategies for Cross-Border Fees and Service Arrangements53
Multinationals Beware: The Surge in Transfer Pricing Regulations and Enhanced IRS Oversight58
What the New FASB Disclosure Rules Could Mean for Your Company67
Strategic Accounting Methods for Businesses: Identifying Opportunities to Defer Income and Save on Taxes71
The C-corporation Advantage: Qualified Small Business Stock (QSBS) Gain Exclusion75
The IRS Presses the Pause Button on the ERTC Program – What’s Next?79
Courts Challenge IRS in 2023: What Could This Mean for Taxpayers in 202481
Decoding PTET: The IRS- Approved SALT Deduction Workaround for Pass-Through Entities84
2023: The Year Of Modern Families88
Research and Development: Tax Credit Benefits and Capitalization Considerations91
Navigating Interest Rates, Depreciation, & Tax Changes: A Real Estate Year-End Overview95
Tax Planning Considerations for Competitive Construction Companies99
Donor-Advised Funds in the Crosshairs: Legislation Aims to Close Tax Code Loopholes102
Tips on Maintaining Your Hospital’s Tax-Exempt Status103
From Depreciation to Discounts: Understanding Book-Tax Differences in the Food & Beverage Industry106
From Tax Credits to Jobs: The Inflation Reduction Act’s First-Year Impact109
Top 6 Enterprise Cybersecurity Challenges for 2024111
3 Easy Trades117
Five Proven Strategies to Tackle Estate Taxes120
Cost of Living Updates 2023-2024129

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