The IRS has issued long-awaited regs on the tax treatment of amounts paid to acquire, produce, or improve tangible property. These new rules help the taxpayer determine what they can expense today and what they must capitalize and deduct at another time.
Generally, the regs must be followed for tax years that begin after December 31, 2013. The regs are lengthy and complex.
Please contact us to schedule some time to discuss how these changes apply to your business.
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
Recent FTC guidance and delayed TCJA provisions will likely impact a taxpayer’s ability to take an FTC going forward. Start analyzing the impact now.
Administration releases Fiscal Year 2024 Budget and Greenbook explanation of tax proposals. Expectations are light for proposals to move forward in Congress.
The US Court of Appeals for the Seventh Circuit affirmed a 2021 US Tax Court ruling in Little Sandy, although it diverged from some of the Tax Court’s reasoning.
Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
IRS continues to win cases challenging the research and development (R&D) credit. Specificity and supporting documentation remain tantamount to sustaining R&D credits.
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Total rewards programs attract, reward, motivate and retain the executive talent necessary to achieve your company’s goals.
Financial statement preparers should consider the impact of new tax laws and regulations on income tax calculations and disclosures in their 2022 financial statements.