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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
Fifty years ago, the world was riveted to their television sets to see history in the making when the Apollo
R&D Tax Credits for Engineering Firms Thousands of architectural and engineering (A&E) firms in the U.S. can benefit from research
Who knew the craft brewing industry would qualify for the research tax credit. Ask a Master Brewer about their unique
Companies who develop software for sale or use by customers or third parties, or for operating equipment or products, or
Many small and midsize businesses affected by COVID-19 are struggling to maintain their cashflow, operational capabilities, and internal research and
The R&D Tax Credit Carryforward Rules When it comes to claiming R&D Tax Credits, many taxpayers are unaware of the rules
Are you making the most of your R&D tax credit claim? Here are four common mistakes that businesses often make when it comes to claiming their R&D tax credits. 1. Documentation Deficit: Leaving Money on the Table Robust documentation is the backbone of a successful claim. Keep detailed records of
Deciding Whether to Manage R&D Tax Credits In-House Businesses often find themselves at a crossroads when it comes to claiming R&D tax credits: should they handle the process in-house or outsource it to a specialized firm? Both options have their own benefits and drawbacks, and it’s important to carefully consider
There are several situations where a cost segregation study should be performed. A cost segregation study should be performed immediately after construction or acquisition or following major capital improvements (including leasehold improvements). The study can also be performed after a change in ownership, including inherited property and change in partnership
What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax, and improve cash flow. Once used only by large accounting firms type accounting firms and the nation’s largest real estate owners,
What is SaaS? Getting a grasp on Software as a Service (SaaS) and sales tax is, at times, complicated. This
Post Wayfair Ruling Landscape Are you scratching your head over the new marketplace facilitator laws? If so, we don’t blame
The 3 Challenges When you think about real estate tax issues, in general, sales tax concerns do not rise to
Refund of Tax Paid on Software Purchases by Companies Located Illinois, Massachusetts, New York, Pennsylvania, Washington or Utah The multiple points of use (“MPU”) exemption is a provision in sales and use tax laws designed to address situations where software is purchased for use in multiple jurisdictions. The MPU exemption
Over the past five years, sales tax awareness has increased amongst the private equity world as states have expanded their ability to tax remote sellers through economic and marketplace nexus rules. However, as a result of the South Dakota v. Wayfair, sales tax has worked its way to the top
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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