News & Blog

Denver, Colorado Skyline

State of Colorado Rewards Businesses Tax Credits to Encourage Development in Enterprise Zones

The Centennial State Offers Development and Research Tax Credits to Companies who put Resources into Growing Economically Distressed Areas Keeping up with competitive industry growth and navigating the fast-paced business world is a process that many companies have to stay on top of in order to be successful and provide value to the communities around them.  What countless companies don’t

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Business Man Standing Next To Work Equipment

5 Tax Tips for Small Business in 2021

Use these Tips and Strategies to Maximize your Deductions for 2020 and into the Future 1. Create a smart plan for paying taxes During turbulent times, preparation and planning are the keys to managing the stress on your business and staying financially solvent. The earlier you have a forecast of your business’s tax outlook, the better prepared you will be

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Baltimore, Maryland Skyline

Maryland Businesses Can Still Take Advantage of R&D Tax Credits Due to Recent Tax Extension

The state of Maryland’s Research and Development Tax Credit Program will remain in effect until June 30, 2022 because of a recent tax extension made by the General Assembly. These R&D credits were created to encourage Maryland businesses to expand their development and research efforts to receive benefits from the state’s Department of Commerce. What are the Benefits of Maryland’s

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Architects Planning for Research and Development

Do Architects Qualify for R&D Tax Credits?

With many architectural firms expanding their research and development efforts nationwide, architects may not be taking full advantage of the research and development (R&D) tax credits they can potentially apply for. Misconceptions generally surround how these credits apply, what activities or projects qualify, why they qualify and how much credit they will get in return for their development initiatives. Background

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2021 Tax Extensions

2020 End of Year Update – 179D Made Permanent and 45L Extended through the End of 2021

President Donald Trump signed the COVID relief bill and fiscal year 2021 omnibus spending package on December 27th, 2020 which contained two tax incentives that benefit architects, engineering firms, commercial building owners, and construction firms. The Section 179D commercial property energy efficiency deduction, set to expire at then end of 2020, was made permanent and is eligible for improvements meeting

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179D To Be Made Permanent and 45L Extended through the End of 2021

Our sources report that with the expected passage of the COVID relief bill and fiscal year 2021 omnibus spending package, two key incentives will receive extensions as part of the package. The Internal Revenue Code (IRC) Section 179D commercial property energy efficiency deduction, which is used for multifamily housing energy efficiency upgrades, will be made permanent and is eligible for

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View of the United States Capital Building. Washington DC

Businesses Look to Congress to Extend 33 Tax Savings Provisions

Tax Extensions Critical to Helping Businesses During Financially Challenging Times With 2020 being one of the most turbulent years on record, businesses are looking to congress for any help they can provide. The CARES Act of 2020 which included the Paycheck Protection Program was a lifesaver for many businesses, but there are still many challenges ahead. With deadlines approaching for

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Augusta, Maine, USA downtown skyline on the Kennebec River

Maine Business Score Big with R&D Tax Credits

This year, many companies submitted their tax returns – not knowing their everyday activities qualify as research and development initiatives, entitling the company to the lucrative R&D tax credit. National Tax Group assists businesses of all sizes, helping them navigate the legal language of the tax code to maximize R&D tax credits, even if they already submitted their return. If your company has been actively involved in research and development activities, give us a call today. We can help you receive the R&D tax credit you may have missed out on

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united states capitol

Are Your Tax Perks Expiring?

The current Congress may have some work to do in its remaining days before the transition is complete. This year’s closing session in Congress will be one of the busiest in recent years. One of the big-ticket items to be decided is whether to extend various tax provisions that are set to expire as 2020 ends. One legislative possibility to

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