Section 179D: Good News From Congress and Courts
Section 179D of the Internal Revenue Code provides tax incentives for the construction of energy-efficient commercial buildings. The deduction is available to owners and designers of new or existing buildings that meet certain energy efficiency requirements. The amount of the deduction is based on the percentage of energy savings achieved by the improvements. The Section […]
5 Misconceptions About the Employee Retention Credit (ERC)
The Employee Retention Credit (ERC), originally passed in March of 2020 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was designed to help businesses keep their workers employed throughout the pandemic. The credit has undergone several modifications since 2020, with the most recent change passing on Nov. 15, 2021, and many businesses have […]
How Architectural and Engineering Firms Can Qualify for R&D Tax Credits
Are you missing out on potential tax credits? While the technology, pharmaceutical, and manufacturing industries are thought of as the typical research and development (R&D) tax credit recipients, however, architectural and engineering firms can qualify, too. Through everyday activities where they continuously develop new and improved designs, concepts, and processes. The more qualifying activities you […]
IRS Warns Taxpayers of Improper Employee Retention Credit Claims and ERC Mills
The Internal Revenue Service recently published IR-2022-183 warning employers to take caution against third parties that are encouraging them to claim the Employee Retention Credit even if they may not qualify. The IRS has given multiple warning signs to look out for. These ERC mills continue to be aggressive in their tactics so the IRS […]
What Rising Demand for New Hampshire’s R&D Tax Credit Means for You
An increase in demand for R&D tax credits has taken New Hampshire by storm. Governor Chris Sununu recognized 2020 as a historic high in the volume of R&D credit business applications — resulting in a whopping 276 recipients. However, the rising demand for this tax credit has resulted in a smaller share for businesses. This year, […]
How to Further Develop Your Business Before 2021 Ends
The end of the year is quickly approaching. With only a few months left in 2021, improving your business should be at the forefront of your goals. There are many ways to achieve this success — from hiring the right people to figuring out a work schedule that best fits your business needs. However, the […]