Blogs

Featured Blogs

How New Tariffs Impact Sales & Use Tax for Multi-State Businesses

Kamal Shah, CPA April 16, 2025

What CPAs and Taxpayers Need to Know As new tariffs from the Trump administration take effect—particularly on imports like electronics, industrial goods, and apparel—many businesses and advisors are asking a key question: How do tariffs affect sales and use tax obligations for companies operating in multiple states? While tariffs themselves are federal taxes, they ripple into state and local tax

Sales & Use Tax

How New Tariffs Impact Sales & Use Tax for Multi-State Businesses

Kamal Shah, CPA April 16, 2025

Cost Seg

Maximizing Cost Segregation Without Giving Away Deductions: Firepower for Your Next Audit

Real property investors understand that today’s market is challenging, and that it’s important to take advantage of every deduction to which they’re entitled. In modern tax planning, cost segregation has become a well-established and indispensable strategy for property owners. Achieving the maximum deduction is important, but it’s paramount that we

John Gail April 11, 2025

Sales & Use Tax

How New Tariffs Impact Sales & Use Tax for Multi-State Businesses

What CPAs and Taxpayers Need to Know As new tariffs from the Trump administration take effect—particularly on imports like electronics,

Kamal Shah, CPA April 16, 2025

Cost Seg

Maximizing Cost Segregation Without Giving Away Deductions: Firepower for Your Next Audit

Real property investors understand that today’s market is challenging, and that it’s important to take advantage of every deduction to

John Gail April 11, 2025

man reviewing 481a adjustment papers with pen

R&D

IRC 481 (a) Adjustment For Changes in Accounting Methods

What is a 481(a) Adjustment? A change in method of accounting requires restatement of the tax accounts on the first

Matt McKinney April 7, 2025

R&D

person using laptop for research and development

R&D

The Three Types of Research and Development

Research and Development (R&D) is a vital component of innovation and technological advancement that involves the creation of new knowledge

Riz Malik October 1, 2024

R&D

What is Research & Development?

Many industries invest in research and development to drive innovation and maintain a competitive edge within their respective markets. By

Deb Roth, CPA July 18, 2024

R&D tax credit challenges man walking wire above alligators

R&D

Common Challenges When Claiming R&D Tax Credits

The R&D tax credit is a governmental incentive designed to encourage research and development activities in the US. This credit

Rachel Bishop, CPA July 11, 2024

person choosing a 5-star R&D provider on their laptop

R&D

Is Your Research & Development (R&D) Provider the Right Fit for You?

The Research & Development (R&D) tax credit enables companies of all sizes across various industries to reduce their federal income

Deb Roth, CPA June 21, 2024

R&D

Understanding the Alternative Simplified Credit Calculation for R&D

The Research and Development (R&D) Tax Credit is a valuable incentive offered by the US government to encourage innovation. However,

Rachel Bishop, CPA April 12, 2024

R&D

R&D Payroll Tax Credit

The Research and Development payroll tax credit, also known as the R&D payroll tax credit is a tax incentive designed

Deb Roth, CPA April 1, 2024

R&D

IRC 481 (a) Adjustment For Changes in Accounting Methods

What is a 481(a) Adjustment? A change in method of accounting requires restatement of the tax accounts on the first day of the year of change as if the taxpayer had always used the new method of accounting. A mismatch between the old and new method of accounting will have

Matt McKinney April 7, 2025

R&D

The Three Types of Research and Development

Research and Development (R&D) is a vital component of innovation and technological advancement that involves the creation of new knowledge and applications of that knowledge to develop new products, processes, or services. There are three primary types of R&D: 1. Basic Research Seeks to discover new facts or principles, often

Riz Malik October 1, 2024

Cost Segregation

Cost Seg

Cost Segregation for Residential Real Estate  

Tailored Solutions for Residential Real Estate Owners  Several tax incentives could financially benefit owners of residential real estate. Cost segregation

Raul Soto August 26, 2024

Cost Seg

Tangible Property Regulation Studies

What is a TPR (Tangible Property Regulation) study? A Tangible Property Regulation (TPR) study is an analysis that examines a

Greg Bryant April 26, 2024

Cost Seg

Cost Segregation for Short Term Rentals

As a short-term rental property owner, maximizing your tax savings is essential for the success of your investment. One effective

Patrick Esteban February 28, 2024

Cost Seg

The When and Why of Cost Segregation Studies

What are the Benefits of a Cost Segregation Study? There are a number of benefits associated with a Cost Segregation

Patrick Esteban January 12, 2024

Cost Seg

Qualified Professionals for Cost Segregation

Who Can Perform a Cost Segregation Study? When it comes to performing a cost segregation study, choosing the right provider

Greg Bryant January 10, 2024

Cost Seg

Don’t Hire a Cost Segregation Provider Until You Ask These 10 Questions

Top 10 Questions to Ask a Cost Segregation Provider Before Working with Them Navigating the complexities of tax planning can

Brian Coddington September 17, 2023

Cost Seg

Maximizing Cost Segregation Without Giving Away Deductions: Firepower for Your Next Audit

John Gail April 11, 2025

Cost Seg

Cost Segregation for Residential Real Estate  

Tailored Solutions for Residential Real Estate Owners  Several tax incentives could financially benefit owners of residential real estate. Cost segregation studies are a great financial strategy that helps property owners accelerate depreciation and can provide valuable data that supports tax-related initiatives throughout the property’s holding period. Apartment buildings or short-term

Raul Soto August 26, 2024

Energy

179D

How is 179D Calculated?

The 179D tax deduction is calculated based on a commercial building’s square footage and the energy cost savings achieved by

Imran Syed September 5, 2024

45L

Form 8908: Instructions Regarding Prevailing Wages

The IRS Form 8908 (also referred to as the Energy Efficient Home Credit) states that “eligible contractors can claim a

Imran Syed June 14, 2024

person reviewing franchise tax papers on desk

179D

Impact of the Inflation Reduction Act on EPACT Section 179 Tax Deduction

In August of 2022, The Inflation Reduction Act was signed into law which made significant changes to the Energy Policy

Imran Syed May 21, 2024

179D

How is 179D Calculated?

The 179D tax deduction is calculated based on a commercial building’s square footage and the energy cost savings achieved by improving its envelope, lighting, or HVAC systems. It’s important to note that 179D is not only applicable to building owners. Design firms, such as architects, engineers, and contractors, can also

Imran Syed September 5, 2024

45L

Form 8908: Instructions Regarding Prevailing Wages

The IRS Form 8908 (also referred to as the Energy Efficient Home Credit) states that “eligible contractors can claim a credit for each qualified energy-efficient home sold or leased to another person during the tax year for use as a residence.” This tax credit is a fiscal incentive designed to

Imran Syed June 14, 2024

Sales & Use Tax

Maximizing Savings with the Multiple Points of Use (MPU) Exemption

The digital age has brought incredible advancements to businesses, but it has also complicated tax compliance, particularly when it comes

Kamal Shah, CPA January 29, 2025

person looking at laptop with magnifying glass

Sales & Use Tax

Understanding Use Tax Audits

A use tax audit is a review of a business’s compliance with use tax laws. It can be a daunting

Chris Vignone November 5, 2024

woman using phone with money signs floating above

Sales & Use Tax

Sales Tax versus Use Tax: What is the Difference?

Understanding Sales and Use Taxes Sales tax and use tax are both taxes imposed on the sale or use of

Benjamin Kluwgant October 23, 2024

Sales & Use Tax

Understanding Franchise Tax: A Simple Explanation

What Is Franchise Tax? It’s essential to differentiate between franchise tax and income tax. While income tax is based on

Chris Vignone May 8, 2024

Sales & Use Tax

How State and Local Taxes Can Affect Your Business’s Exit Strategy

Exit strategies for a company involve planning and execution on various fronts, including handling state and local taxes. These strategies

Chris Vignone April 25, 2024

Sales & Use Tax

Understanding Sales and Use Tax Audits

Sales and use taxes are the lifeblood of many state and local governments. But for businesses, navigating the complexities of

Chris Vignone April 10, 2024

Sales & Use Tax

How New Tariffs Impact Sales & Use Tax for Multi-State Businesses

Kamal Shah, CPA April 16, 2025

Sales & Use Tax

Maximizing Savings with the Multiple Points of Use (MPU) Exemption

The digital age has brought incredible advancements to businesses, but it has also complicated tax compliance, particularly when it comes to software purchases. One key opportunity for companies is the Multiple Points of Use (MPU) exemption, a little-known provision in sales and use tax laws. This exemption offers significant savings,

Kamal Shah, CPA January 29, 2025

LIFO

What is the LIFO Conformity Rule?

The LIFO Conformity Rule is a tax regulation in the United States that mandates businesses to use the LIFO method

Sara Richardson February 24, 2025

LIFO

Last In, First Out (LIFO) Inventory Method: Pros and Cons

Inventory valuation is an accounting process used by companies to assign value to their inventory. It determines the cost of

Sara Richardson May 30, 2024

LIFO

LIFO vs. FIFO: Choosing the Right Inventory Identification Method

Inventory identification is a crucial aspect of managing a company’s finances. It impacts your cost of goods sold (COGS), profitability,

Karen Koch, CPA, MT March 4, 2024

LIFO

What is the LIFO Conformity Rule?

The LIFO Conformity Rule is a tax regulation in the United States that mandates businesses to use the LIFO method consistently for both tax reporting and financial statement reporting. In other words, if a company chooses LIFO for tax purposes to reduce taxable income, it must also use LIFO when

Sara Richardson February 24, 2025

LIFO

Last In, First Out (LIFO) Inventory Method: Pros and Cons

Inventory valuation is an accounting process used by companies to assign value to their inventory. It determines the cost of unsold goods at the close of an accounting period and plays a critical role in calculating the cost of goods sold (COGS) and the gross profit for the period. The

Sara Richardson May 30, 2024

Section 174

Educating Clients on Section 174: A Guide for CPAs

Understanding Section 174 and Its Impact Section 174 of the Internal Revenue Code governs the treatment of Specified Research or

Jordan Fazio February 26, 2025

person working with floating 174 expenditure bar graph

Section 174

Section 174 Explained

What is Section 174? Section 174 of the Internal Revenue Code now defines the treatment of Specified Research or Experimental

Deb Roth, CPA June 4, 2024

Section 174

Offsetting Section 174 R&E Software Development Tax Liability With R&D Tax Credits

Section 174 Changes Impact R&D Tax Credits for Software The new changes to Section 174 have a significant impact on

Deb Roth, CPA April 16, 2023

Section 174

Educating Clients on Section 174: A Guide for CPAs

Understanding Section 174 and Its Impact Section 174 of the Internal Revenue Code governs the treatment of Specified Research or Experimental (SRE) expenditures. The Tax Cuts and Jobs Act (TCJA) of 2017 amended Section 174, requiring businesses to amortize SRE expenditures over time rather than deducting them in full in

Jordan Fazio February 26, 2025

Section 174

Section 174 Explained

What is Section 174? Section 174 of the Internal Revenue Code now defines the treatment of Specified Research or Experimental (SRE) expenditures. Section 174 was amended by the Tax Cuts and Jobs Act of 2017 to require amortization of SRE expenditures paid or incurred for tax years beginning after December

Deb Roth, CPA June 4, 2024

Solutions

Resources

CPA Partners

Resources

About Us

Solutions

Resources

CPA Partners

Resources

About Us

Insights

Resources

Blogs

Featured Blogs

Featured Blogs

R&D

Cost Segregation

Energy

Sales & Use Tax

LIFO

Section 174

Contact Source Advisors for a Free Assessment