Georgia extends state tax deadlines for victims of Hurricane Ian
The Georgia Department of Revenue will join the IRS in providing tax relief to the victims of Hurricane Ian in the impacted areas of Florida, South Carolina, and North Carolina. The Department is postponing until February 15, 2023 certain deadlines for taxpayers affected by the disaster, which are individuals who reside, and businesses whose records required for […]
Georgia approves income tax reduction
Taxpayers in Georgia will see a reduction in their state income tax rate beginning in 2024. Governor Brian Kemp signed the Tax Reduction and Reform Act of 2022, which reduces over a period of seven years the current tax rate of 5.75% to 4.99%. The actual reduction will be subject to a one year delay […]
Changes to QIP May Prompt Adjustments to Some Georgia Tax Returns
Georgia business owners may need to adjust depreciation taken on qualified improvement property in 2019 now that the state has adopted 15-year recovery periods and does not allow 100% bonus depreciation. The QIP recovery period first became an issue with the adoption of the Tax Cuts and Jobs Act in 2017, when through a technical […]
New law boosts Georgia HEART Tax Credit
The tax credit for making a charitable donation to rural hospitals in Georgia just got a significant boost, but you may want to act quickly to take full advantage of the benefits. The Georgia HEART Hospital Program, which came into effect the first of 2017, awards Georgia income tax credits to individual and corporate taxpayers […]
From hospitals to movies, Ga. offers some unique tax credits
The state of Georgia is offering a couple unique opportunities to receive tax credits and at the same time do something positive for the local economy. Georgia Heart Hospital Program The first is the Georgia Heart Hospital Program, which is expected to continue at least through Dec. 31, 2019. Through this program, Georgia taxpayers can […]
