How CPAs Can Help You Maximize Your Tax Deductions
No business eagerly awaits the opportunity to pay more in taxes and have less to invest back into the business or take as profit. In fact, every business would like to pay as little as possible, within the confines of the law. The business tax landscape is a minefield – complicated, fluid from year to year, and sometimes subject to interpretation. It would not be possible for businesses to minimize their tax burden without the help of CPAs.
Guide to R&D Expense Capitalization & Amortization
What is going on with Section 174 and the research expenses?
The uncertain rules around amortizing and capitalizing research expenses are creating significant planning challenges for businesses.
How Do Small Businesses Leverage Energy Modeling Reports?
If the federal government offered your business a low-interest loan as a reward for saving money by taking a slice out of your enterprise’s energy usage, what would you think? Suppose qualifying were as easy as building or renovations that reduce energy usage by at least 10%, or produce at least 15% of energy from […]
Potential Tax Law Changes in the New Trump Administration
Republican domination of Congress, along with a Republican in the White House, likely means the constantly swinging pendulum of tax law is going to arc towards business tax cuts, possibly starting in 2025. The scope of these changes is unknown, in large part because normal Congressional rules require 60 votes for budget bills to pass […]
7 Essential Tax Planning Questions Every Small to Medium Business Owner Should Ask Their Tax Provider for Q1 2025
As Q1 2025 approaches, small and medium-sized business owners have a unique opportunity to strengthen their tax strategies for the new year. A strategic tax plan isn’t just about lowering the tax bill — it’s also about aligning tax savings with long-term business goals, reinvesting in growth, and positioning your business for success. To make […]
Update on Uncertainty: The Future of the R&D Credit
In a pivotal moment early last month, the Senate blocked bipartisan legislation that aimed to restore and expand key business tax provisions, including the vital research and development (R&D) tax credit. This vote has left American businesses in a precarious position, as the tax package also sought to address bonus depreciation and interest expense limitations. […]
Unleashing the Power of R&D Tax Credits for Manufacturing Businesses
As a manufacturing business leader, you’re constantly striving to stay ahead of the competition and drive innovation. But are you fully leveraging one of the most powerful financial tools at your disposal? The Research and Development (R&D) Tax Credit is a game-changer that can significantly boost your bottom line, yet it’s often overlooked. Let’s dive […]
How Architects and Builders Benefit from the Section 179D Tax Deduction
Possessing or running more energy-efficiently built or renovated buildings may boost your cash flow by lowering your federal income tax obligation for the current year. Designers of buildings owned by the government can also often benefit from this tax-deferral method.
Unmasking Misconceptions About Cost Segregation
Cost segregation studies are a powerful tax planning strategy that can lead to tax savings for property owners. However, several common misconceptions persist despite their benefits, causing many to miss out on the potential advantages. Let’s debunk these myths, helping you make informed decisions and maximize the benefits of cost segregation. Myth 1: Cost Segregation […]
Boost Your Client’s Business with Cost Segregation: Unlock Hidden Tax Savings
Tax Day has long come and gone, but dedicated CPA firms have already started planning how to reduce your clients’ business tax burden for next year. One powerful, often overlooked strategy is cost segregation, a method that can significantly increase your clients’ cash flow and reduce tax liability by reclassifying assets into shorter tax lives, […]