In pandemic times, every penny saved counts. Tax planning can reduce business taxes, but there are additional savings opportunities. When it comes to research and development tax credits, certain costs related to wages, supplies and contract research are eligible, and can save you $$$. Taxpayers often overlook processes and routine work that counts towards extra...
Nothing is yet set in stone, but we want to alert clients to “expect the unexpected” when it comes to potentially significant tax and regulatory policy changes in 2021. The first hint of things to come may be hidden in President Joe Biden’s American Rescue Plan. The $1.9 Trillion COVID-19 relief package represents the Biden administration’s...
Bitcoin rose above $52,000 on February 17th and has gained over 400% in 12 months. If you were lucky and bought bitcoin when it was worth less, you are sitting on big gains, which is why it is important to understand that the IRS views bitcoin and other cryptocurrencies as assets. Not currency and not...
A new year deserves a review of lessons learned and a set of new goals. Whether you are an individual or business client, take a few minutes to review this list of 12 suggestions from our tax and financial professionals, most are painless: 1. Make an inventory once a year as an individual and twice...
Over the holiday season, the IRS approved even more automobiles to be eligible for the Electric Vehicle tax credit. The autos are made by BMW, Honda, Jaguar, Mini, Range Rover and Subaru. The EV credit maxes out on some models at $7,500, but this is still very good news. The exact amount takes some figuring...
