Explore our extensive library of tax resources put together by our industry thought leaders.
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional tax, penalties, and interest, a RSUTA is a taxpayer initiated
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing business within the state. It is a tax on gross receipts, regardless of profit, and is based on the type of business activity being conducted. The tax is imposed on
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing
What is Cost Segregation? A cost segregation study might be thought of as an interest free loan that frontloads the depreciation
The R&D tax credit is a governmental incentive designed to encourage research and development activities in the US. This credit
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.
Navigating the complex world of R&D tax credits requires more than just general tax knowledge—it demands a deep understanding of IRS regulations, evolving legislation, and the ability to identify and document qualified research activities. Whether you’re a growing technology firm, a manufacturing company, or a CPA looking to better serve
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
As a short-term rental property owner, maximizing your tax savings is essential for the success of your investment. One effective
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
How do I find a qualified professional to perform a cost segregation study? When it comes to performing a cost segregation study, choosing the right provider is crucial. Not only will a reputable provider ensure accurate and reliable results, but they will also help you maximize your tax savings and
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
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.
A use tax audit is a review of a business’s compliance with use tax laws. It can be a daunting
Understanding Sales and Use Taxes Sales tax and use tax are both taxes imposed on the sale or use of
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
As eCommerce continues to grow, so does the complexity of state and local tax compliance. One of the most important considerations for online sellers is determining which states they are required to collect and remit sales tax. This begins with understanding how to determine sales tax nexus, a critical step
Which States Have the Most Complex Sales Tax Laws? The sales tax landscape in the United States presents a maze of regulations that can differ dramatically from one state to another. Recognizing which states have the most complex sales tax laws is crucial for both businesses and individuals, as these
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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