Explore our extensive library of tax resources put together by our industry thought leaders.
The Inventory Price Index Computation (IPIC) LIFO method is a specialized approach to the Last-In, First-Out (LIFO) inventory valuation method. It was developed by the Treasury Department to help businesses simplify LIFO calculations while still complying with IRS requirements under the Internal Revenue Code. Unlike traditional LIFO methods that require tracking inflation year over year for each SKU or product
The Inventory Price Index Computation (IPIC) LIFO method is a specialized approach to the Last-In, First-Out (LIFO) inventory valuation method. It was developed by the Treasury Department to help businesses simplify LIFO calculations while still complying with IRS requirements under the Internal Revenue Code. Unlike traditional LIFO methods that require
Choosing the Best R&D Tax Credit Provider When it comes to claiming the Research & Development (R&D) tax credit, the difference between maximizing your benefit and leaving money on the table often comes down to the expertise of your provider. A top-tier R&D tax credit consultant not only identifies qualifying
The Inventory Price Index Computation (IPIC) LIFO method is a specialized approach to the Last-In, First-Out (LIFO) inventory valuation method.
Choosing the Best R&D Tax Credit Provider When it comes to claiming the Research & Development (R&D) tax credit, the
The One Big Beautiful Bill (OBBB) represents one of the most comprehensive clean energy legislative updates since the IRA. For
The Research & Development (R&D) tax credit enables companies of all sizes across various industries to reduce their federal income
The Research and Development (R&D) Tax Credit is a valuable incentive offered by the US government to encourage innovation. However,
The Research and Development payroll tax credit, also known as the R&D payroll tax credit is a tax incentive designed
What are Federal Tax Credits? Tax season can be a daunting time, filled with forms, calculations, and the question: am
The R&D 4-Part Test Imagine the 4-part test as a sturdy bridge connecting your R&D activities to tax credit rewards.
Are you making the most of your R&D tax credit claim? Here are four common mistakes that businesses often make
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
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
What are the Benefits of a Cost Segregation Study? There are a number of benefits associated with a Cost Segregation
Top 10 Questions to Ask a Cost Segregation Provider Before Working with Them Navigating the complexities of tax planning can
It’s not a “one size fits all” approach. We make it a point of understanding our clients’ needs – not
Are You Looking to Free Up Capital for Your Company? Cost Segregation studies might be the solution you need. By
Choosing the right cost segregation provider is a vital part of optimizing tax savings for your business. The provider you
There are several situations where a cost segregation study should be performed. A cost segregation study should be performed immediately
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
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
The Architecture & Engineering (A&E) industry plays a crucial role in shaping sustainable communities. Did you know your firm’s commitment
What are Federal Tax Credits? Tax season can be a daunting time, filled with forms, calculations, and the question: am
The Inflation Reduction Act of 2022 brought changes to the §179D Energy Efficient Commercial Building Tax Deduction, a flagship federal
In August of 2022, The Inflation Reduction Act was signed into law which made significant changes to the Energy Policy Act (EPAct) Section 179D tax deduction. The benefits and expansion of eligibility for energy-efficient commercial buildings were now enhanced, opening the door for companies who made energy-efficient upgrades to their
The Architecture & Engineering (A&E) industry plays a crucial role in shaping sustainable communities. Did you know your firm’s commitment to energy-efficient design can be rewarded with significant tax savings? The 45L tax credit offers a powerful incentive specifically for A&E firms working on residential projects that prioritize energy efficiency.
What Is Franchise Tax? It’s essential to differentiate between franchise tax and income tax. While income tax is based on
Exit strategies for a company involve planning and execution on various fronts, including handling state and local taxes. These strategies
Sales and use taxes are the lifeblood of many state and local governments. But for businesses, navigating the complexities of
Sales & use tax audit notices are never a great letter to receive in the mail. But, by following the
Refund of Tax Paid on Software Purchases by Companies Located Illinois, Massachusetts, New York, Pennsylvania, Washington or Utah The multiple
Over the past five years, sales tax awareness has increased amongst the private equity world as states have expanded their
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
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,
The LIFO Conformity Rule is a tax regulation in the United States that mandates businesses to use the LIFO method
Inventory valuation is an accounting process used by companies to assign value to their inventory. It determines the cost of
Inventory identification is a crucial aspect of managing a company’s finances. It impacts your cost of goods sold (COGS), profitability,
With overall inflation around 3% for 2024 and prices on the rise for 2025, now is a good time to consider a Last-In-First-Out (LIFO) election if you carry inventory. Even if you are already on LIFO, analyzing the IPIC LIFO method for 2024 could be a great opportunity. IPIC LIFO
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
Understanding Section 174 and Its Impact Section 174 of the Internal Revenue Code governs the treatment of Specified Research or
What is Section 174? Section 174 of the Internal Revenue Code now defines the treatment of Specified Research or Experimental
Section 174 Changes Impact R&D Tax Credits for Software The new changes to Section 174 have a significant impact on
Section 174 Changes Impact R&D Tax Credits for Software The new changes to Section 174 have a significant impact on software development costs. For tax year 2022, any cost that has been paid or incurred related to software development is now considered a Section 174 R&E expenditure. This means it
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