News & Blog

The federal government has extended the 2020 filing deadline for individual taxpayers from April 15th, 2021 to May 17th, 2021. The individual payment deadline has also been extended to May 17th, 2021. Taxpayers can now make payments by the May deadline without any penalties and interest accumulating, regardless of the amount owed. This deadline also applies to self-employment tax. These

Companies in the web and software industry are not unfamiliar with the research and development process. In fact, it’s so commonplace for this industry that many tech businesses may not think their day-to-day activities apply for R&D tax credits simply because they aren’t groundbreaking innovations. What many of these companies don’t know, however, is that many of these projects do

The shift toward green construction and design has not only influenced the way engineers and architects look at buildings, but has also changed the way our government is viewing tax codes. In fact, this past year, two important tax codes that involve implementing eco-friendly building practices have been addressed. Both the 179D energy-efficient tax deduction and the 45L energy-efficient home

Financial institutions such as banks and other properties associated with banks make up a good portion of commercial property in the US. Any commercial property that has been constructed, renovated or bought can potentially benefit from cost segregation which reallocates parts of the property to depreciate faster over a shorter period of time. Setting up a cost segregation study can

With leading industries in manufacturing, food, construction and technology, Illinois is a hot spot for research and development. Any company in the state, no matter the industry or size of the business, performing R&D activities can apply to receive lucrative tax credits.   Although most businesses perform these activities on a daily basis, they may not even know that what they

Companies who are focusing on advancing health products, fitness services or providing healthier alternatives can qualify for tax credits for their efforts    The health and fitness industry has seen a large increase in the last couple of years, especially with concerns centering around the current pandemic, and more people are becoming aware of the overall connection between their health and

The C-corporation tax return deadline is right around the corner and while your company is getting everything in order for April 15th, there are a few things you might want to consider before completing your 2020 tax return. With recent changes to tax codes and ongoing developments in the business world, your company may apply for hidden tax incentives and

Both residents and businesses in Texas will receive tax relief due to the devastating winter storms that have been affecting Texas. The Internal Revenue Service (IRS) announced on Wednesday, February 22nd that individual and business taxes have been pushed back to June 15th, 2021 from the original April 15th deadline for individuals and the March 15th deadline for businesses. This

Owners of apartment complexes and other large multifamily properties should always be looking for ways to increase the return on their initial investments on the properties they own. One of the most common and efficient ways to do this is through cost segregation. Cost segregation takes properties like apartments that usually depreciate over a period of 39 years and cuts

Companies all across America have been changing the use of their time and resources to keep up with the shifting landscape of their industries. Because of this, businesses have needed to conduct research and development activities to create new and improved products and services. To help companies keep up with this growth, federal and state governments have created tax credits