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Leveraging R&D Credit For Small Businesses

179d-inflation - Woman looking at receipts

Is your company attempting to improve current goods, processes, or software? Do you create new goods and processes as part of your regular operations? Have you modified, integrated, or produced goods based on customer specifications? The Research and Development Tax Credit may effectively reduce taxable income while providing immediate support for future discoveries. It remains […]

Navigating Tax Benefits: Understanding the Impact of IRC Section 179D Inflation Adjustments on Taxpayer Deductions

Tax credits-Man at desk counting money

In the ever-evolving landscape of tax regulations, taxpayers must stay abreast of changes that can significantly impact their bottom line. One such provision that demands attention is IRC Section 179D, which allows for deductions related to energy-efficient commercial buildings.  Initially introduced to incentivize energy efficiency in commercial buildings, Sec 179D eligible building owners or tenants […]

Tax Extenders Legislation Still Tied Up At the Senate

The House approved the $78 billion Tax Relief for American Families and Workers Act at the end of January and forwarded it to the Senate. However, Republicans, including ranking member Sen. Mike Crapo, R-Idaho, have opposed the idea, as the Senate Finance Committee has not yet marked up the legislation.  A spokesman pointed out that […]