2022 Year-End Tax Planning for Government Contractors

What year-end, tax-saving steps can government contracting businesses and their owners take? How can they prepare for tax law changes impacting 2023?

In this episode of Cherry Bekaert’s Government Contracting podcast series, John Ure and Carol Marin, Tax Partners in Cherry Bekaert’s Government Contractor Industry practice and Private Client Services practice, discuss year-end tax planning at the entity and individual levels, including pertinent information for government contractors and 8(a) government contractors.

Listen in to find out about:

  • Methods to reduce current year income
  • Captial expenditures, fixed assets and phase out of bonus depreciation rules starting in 2023
  • Retirement plans to manage income, including VIP retirement plans
  • Research & Development (R&D) tax credit
  • Employee Retention Credit (ERC)
  • Projections and estimated tax payments to avoid surprises
  • Pass-thru entity considerations
  • Qualified Business Income deduction
  • Charitable contributions
  • Special regulations and thresholds for SBA 8(a) program government contractors

If you need help with year-end tax planning, Cherry Bekaert tax advisors are available to discuss your situation. We welcome the opportunity to identify the best tax positions and opportunities for you and your company.


View All Government Contracting Podcasts

 

Carol Marin

Tax Services

Partner, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 19, 2024

18:36

Speakers: Lynnette Leidwinger, Brendan Halloran

Explore key subcontracting insights, including compliance reviews, teaming arrangements, and hiring tips for government contractors.

Podcast

November 14, 2024

22:36

Speakers: Michael G. Cippel, Irwin Kaplan

Discover year-end planning essentials for government contractors, including contractor waterfall insights, cash forecasting & monthly performance tracking.

Podcast

November 11, 2024

20:43

Speakers: Sarah McGregor, Brooks E. Nelson, Mark Giallonardo

Learn how to claim disaster losses and defer casualty gains under IRS rules. Explore relief measures for individuals and businesses affected by disasters.