A mid-year tax review is all about proactive planning to optimize your tax situation and identify potential savings. With significant tax provisions potentially changing at the end of 2025, reviewing your business’s financials and tax position now is more important than ever. It gives you time to make necessary adjustments, implement strategies to maximize tax
BUCKLE UP FOR BIDEN’S INFLATION REDUCTION ACT AND TAXES
President Biden signed the Inflation Reduction Act—a climate, energy, healthcare, and tax law that increases IRS funding, includes several tax credits, and changes some tax policy to raise tax revenue. Basically, it is a re-brand of the Build Back Better Plan missing some controversial line items. The Inflation Reduction Act of 2022, is a sweeping
Don’t Miss Midyear Tax Planning Opportunities
Valuable tax planning opportunities exist if you anticipate potential tax changes and take advantage of what’s still available under the Tax Cuts and Jobs Act, CARES Act, and other tax provisions. The American Rescue Plan Act enacted earlier this year included changes that will affect 2021 tax returns and, if enacted, the proposed American Jobs
Surprising Tax Saving Expenses Eligible For R&D Credits
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
Biden’s Tax Policy Changes Will Impact 2021 Tax Planning
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
