2023 Deadlines and Extensions

Prepare For Business In 2023

Get ready for tax season by completing this check list:

Check your client list to see if anyone has constructed or remodeled a building in 2022 that could benefit from a Cost Segregation Study
Determine if you have qualifying contractors and buildings for the §45L Energy Efficient Tax Credit
Speak with your IT department to see if the firm uses the CCH Axcess Data Access Utility (DAU) so you can use the Practice Intelligence Solution to see your data in a manner you can actually use.
Call Scarpello Consulting to get started: 877.410.5040

IMPORTANT DATES

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January

Time to request your Cost Segregation Study or §45L Certification Verification

Feb 1st

Deadline for employers to mail out W-2 Forms to employees and for businesses to furnish 1099 Forms.

March 15th

S-corporation returns (IRS Form 1120-S) due for corporations operating on a calendar year. Or deadline to file for an extension to Sept. 15th.

April 15th

C-corporation income tax returns (IRS Form 1120) due for C-corporations that operate on a calendar year. Or deadline to file for an extension to Oct. 15th.

100% Bonus Depreciation Ended In 2022

This tax season is important for anyone who acquired, renovated, and placed into service a non-residential building before 1/1/2023. They are the last group to have QIP improvements eligible for 100% bonus deprecation.

Bonus depreciation for buildings placed into service after 12/31/2022 will drop to 80% moving forward.

877.410.5040 // info@scarpelloconsulting.com

About Scarpello Consulting

Scarpello Consulting provides clients with a variety of cost-savings measures based on tax incentives and regulation such as Cost Segregation Studies and §45L Reports. Through a sister company, Scarpello Group, the team can provide clients with turn-key data analytics. In the years to come, both teams strive to create the answers to unique business problems, focusing on identifying break-through cost-savings measures that allow businesses to operate more efficiently.

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