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What Is a QAP? Understanding Qualified Allocation Plans and LIHTC

Safa Bari September 24, 2026

What Is a QAP? Understanding Qualified Allocation Plans and LIHTC A Qualified Allocation Plan (QAP) is the framework a state housing agency uses to establish priorities and criteria for awarding Low-Income Housing Tax Credits (LIHTC) to affordable housing developments. Because demand for LIHTC funding often exceeds the amount of credits available, the QAP plays an important role in determining which

Energy Tax Incentive

What Is a QAP? Understanding Qualified Allocation Plans and LIHTC

Safa Bari September 24, 2026

Cost Seg

Overview of Form 3115: What Business Owners Need to Know About Changing Your Accounting Method

Overview of Form 3115: What Business Owners Need to Know About Changing Your Accounting Method Form 3115, Application for Change in Accounting Method, is the IRS form businesses file to request or report a change in how they recognize income or expenses for tax purposes — such as switching from

Matt McKinney September 15, 2026

Energy Tax Incentive

What Is a QAP? Understanding Qualified Allocation Plans and LIHTC

What Is a QAP? Understanding Qualified Allocation Plans and LIHTC A Qualified Allocation Plan (QAP) is the framework a state

Safa Bari September 24, 2026

Cost Seg

Overview of Form 3115: What Business Owners Need to Know About Changing Your Accounting Method

Overview of Form 3115: What Business Owners Need to Know About Changing Your Accounting Method Form 3115, Application for Change

Matt McKinney September 15, 2026

washington business people working at table with laptop

Sales & Use Tax

The Same Digital Service, Different Tax Result:Why State-by-State Taxability Reviews Matter in 2026

Digital products and technology services continue to blur the traditional line between taxable property and nontaxable services. For multistate businesses,

Deborah Dingess September 14, 2026

R&D

6 Common Misconceptions About R&D Tax Credits

The Research & Development (R&D) tax credit can enable businesses to increase cash flow and savings, reduce the Federal income tax rate,

Deb Roth, CPA June 5, 2023

R&D

What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean?

The IRS extended the transition period for taxpayers to perfect their refund claims for R&D Tax Credits through January 10, 2024. Taxpayers

Deb Roth, CPA June 1, 2023

R&D expenditure paperwork with calculator

R&D

Qualifying Expenditures for the R&D Tax Credit

Qualifying expenditures for the R&D tax credit include salary and wages, supply costs, computer rental or lease, and contractor costs.

Rachel Bishop, CPA January 24, 2023

R&D

TCJA Changes That Could Impact R&D

TCJA R&D Changes Explained Changes stemming from the 2017 Tax Cuts & Jobs Act (TCJA) have made the R&D credit

Deb Roth, CPA January 24, 2023

R&D

How to Qualify your R&D Tax Credit Provider

Our consultative approach sets us apart from other providers. It allows us to invest time in understanding clients’ history, current

Rachel Bishop, CPA February 10, 2022

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R&D & Energy For Real Estate: Tax Accounting Methods

What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean? Construction and real estate firms often ask

Deb Roth, CPA November 15, 2021

person using laptop for research and development

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 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

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 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

Rachel Bishop, CPA July 11, 2024

Cost Segregation

man calculating tangible property regulation study

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 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

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 strategy to achieve this is through cost segregation. Cost Segregation for Short Term Rental Owners Cost segregation is a tax-saving technique that allows you to accelerate the depreciation of certain

Patrick Esteban February 28, 2024

Energy

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Qualified Leasehold Improvements

What is a Qualified Leasehold Improvement Property? Qualified vs. Non-Qualified Leasehold Improvements From 2001 through 2017, Qualified Leasehold Improvement Property (QLIP) were most improvements to a building’s interior made under a lease. This includes interior improvements such as HVAC, fire protection systems, alarm systems, and security systems. It only applies to commercial buildings, such as retail or

Source Advisors August 2, 2019

Sales & Use Tax

Why Do We Have Sales & Use Tax?

What is Sales & Use Tax? Sales and Use Tax is a consumption tax, a form of tax that is

Johanna Monroy April 11, 2023

Sales & Use Tax

Lack of Documentation on Sales & Use Tax Audits

Defending tax audits can be a daunting process for businesses. Defending an audit requires a thorough understanding of the tax

George Messropian April 7, 2023

Sales & Use Tax

New York City Utility Excise Tax

What is the New York City Utility Excise Tax? In New York City, the Utility Excise Tax (UXS) is a

Chris Vignone March 3, 2023

Sales & Use Tax

The Usage and Management of Tax Exemption Certificates

What is a Tax Exemption Certificate? Tax exemption certificates are documents issued by taxing authorities, usually the states, that grant

Kamal Shah, CPA February 16, 2023

person calculating sales and use tax with calculator on table

Sales & Use Tax

What is the difference between Sales & Use Tax and Value Added Tax?

Sales and Use Taxes vs Value Added Tax Sales and use taxes in the United States and the value-added tax

Chris Vignone February 10, 2023

Sales & Use Tax

Refund Opportunities on Purchases of SaaS in Specific Industries and Jurisdictions

The Changing Landscape of Sales Tax in the Age of SaaS The continued changes in the world of software have

Jonathan Kraft January 31, 2023

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 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

Benjamin Kluwgant October 23, 2024

person reviewing franchise tax papers on desk

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 the income earned by individuals and businesses, franchise tax is a unique tax imposed on businesses for the privilege of operating in a particular state or jurisdiction, not directly linked

Chris Vignone May 8, 2024

LIFO

Can LIFO Still Provide Tax Savings in 2023?

While inflation is not at the high levels seen in the last couple of years, if you haven’t elected LIFO previously, now is the time to look at Last-In-First-Out (LIFO) accounting. If you have inventories of machinery and equipment, glass products or any concrete or cement inventory, there could be

Sara Richardson December 15, 2023

LIFO

How Inflation Drives LIFO

Understanding LIFO as an effective mitigation strategy for inflation is an economic challenge that significantly impacts a wide range of businesses, from manufacturers and distributors to retailers. Amidst the challenge of rising costs for raw materials and finished goods, the Last-In-First-Out (LIFO) inventory method emerges as a potent strategy to

Source Advisors April 13, 2021