Explore our extensive library of tax resources put together by our industry thought leaders.
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 comply with IRS regulations. Here are some key considerations to
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
Recent tariffs imposed by the Trump administration have reintroduced import taxes on a wide range of goods. While the goal is aimed at bolstering domestic manufacturing, the tariffs come with side effects that ripple through the economy, including increased prices that affect manufacturers, distributors, and retailers. For businesses that rely
With overall inflation around 3% for 2024 and prices on the rise for 2025, now is a good time to
What CPAs and Taxpayers Need to Know As new tariffs from the Trump administration take effect—particularly on imports like electronics,
Real property investors understand that today’s market is challenging, and that it’s important to take advantage of every deduction to
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
Deciding Whether to Manage R&D Tax Credits In-House Businesses often find themselves at a crossroads when it comes to claiming
Understanding the R&D Tax Credit The R&D tax credit is a valuable incentive provided by the government to encourage businesses
Many industries invest in research and development to drive innovation and maintain a competitive edge within their respective markets. By investing in this credit, businesses can increase their cash flow and reduce their tax rate, thus opening opportunities to further invest in advancements within their industry. Some of the common
The R&D tax credit is a governmental incentive designed to encourage research and development activities in the US. This credit offers a dollar-for-dollar reduction on federal taxes for qualified expenses related to developing new or improved products, processes, software, technique, formula, or invention. Although claiming this credit can offer considerable
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
What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate
What is Cost Segregation? A cost segregation study might be thought of as an interest free loan that frontloads the depreciation
What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial 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
What is a TPR (Tangible Property Regulation) study? A Tangible Property Regulation (TPR) study is an analysis that examines a company’s compliance with the Tangible Property Regulations. In this context, tangible property refers to real property such as land and improvements to land (e.g., site improvements and buildings), as well
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.
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
While specific exemptions vary from state to state most manufacturers are aware that all states offer some type of sales
For online businesses, navigating the ever-shifting sands of sales tax can feel like wandering through a labyrinth. One wrong turn,
For businesses operating across state lines, understanding the concept of sales tax nexus is critical. It’s the determining factor on
A use tax audit is a review of a business’s compliance with use tax laws. It can be a daunting process, but with proper preparation, its impact can be minimized. What is a Use Tax Audit? Use taxes are imposed on the storage, use, or consumption of tangible goods purchased
Understanding Sales and Use Taxes Sales tax and use tax are both taxes imposed on the sale or use of tangible goods within a state or municipality. While they are similar in nature, it is important to understand the key distinctions between the two. Definitions: Sales Tax: A sales tax
While inflation is not at the high levels seen in the last couple of years, if you haven’t elected LIFO
Understanding LIFO as an effective mitigation strategy for inflation is an economic challenge that significantly impacts a wide range of
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
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
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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