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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
TCJA R&D Changes Explained Changes stemming from the 2017 Tax Cuts & Jobs Act (TCJA) have made the R&D credit
Our consultative approach sets us apart from other providers. It allows us to invest time in understanding clients’ history, current
What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean? Construction and real estate firms often ask
The Protecting Americans from Tax Hikes (PATH) Act of 2015 includes provisions that allow certain taxpayers to offset their AMT
R&D Tax Credit Startup Activities and Industries With the expansion of the Research and Development Tax Credit over the years, more
Governments typically incentivize private industry to produce research and development (R&D) as a strategic tool to advance their economies. Initially
The Research and Development (R&D) Tax Credit is a valuable incentive offered by the US government to encourage innovation. However, calculating this credit can involve complex formulas and historical data analysis. This is where the Alternative Simplified Credit (ASC) method comes in, offering a streamlined approach for qualifying businesses. Traditional
The Research and Development payroll tax credit, also known as the R&D payroll tax credit is a tax incentive designed for qualified businesses to offset their payroll tax. It is designed for new companies that perform research and technology development activities to be able to apply up to $250,000 of
Top 10 Questions to Ask a Cost Segregation Provider Before Working with Them Navigating the complexities of tax planning can be overwhelming for businesses. One area that can offer significant tax savings is Cost Segregation. A well-executed Cost Segregation study can lead to accelerated depreciation deductions, allowing businesses to maximize
It’s not a “one size fits all” approach. We make it a point of understanding our clients’ needs – not just in the current year but throughout the ownership period. Properties go through life cycles – whether it’s based on use, age or market conditions. Also, different groups within a
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
Defending tax audits can be a daunting process for businesses. Defending an audit requires a thorough understanding of the tax
What is the New York City Utility Excise Tax? In New York City, the Utility Excise Tax (UXS) is a
What is a Tax Exemption Certificate? Tax exemption certificates are documents issued by taxing authorities, usually the states, that grant
Sales and Use Taxes vs Value Added Tax Sales and use taxes in the United States and the value-added tax
The Changing Landscape of Sales Tax in the Age of SaaS The continued changes in the world of software have
The New York State Telecommunications and Utility Service Tax In New York, there is an excise tax that applies to
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
Exit strategies for a company involve planning and execution on various fronts, including handling state and local taxes. These strategies are crucial for minimizing tax liabilities and ensuring compliance with legal requirements. Here are three short steps for formulating an exit strategy with a focus on state and local taxes:
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
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