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Tax Credits and Incentives Articles

 

Five Tips to Avoid Manufacturing Site Workers’ Compensation Claims

Five Tips to Avoid Manufacturing Site Workers’ Compensation Claims

Posted by John George on September 14, 2022

Workers’ compensation costs can quickly overwhelm a manufacturing company — especially if it turns out to be a rough year with many claims. Here are a few ways to rein in these costs.

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CHIPS Act Offers 25% Credit for Production of Semiconductors

CHIPS Act Offers 25% Credit for Production of Semiconductors

Posted by Jonathan Roller on September 06, 2022

The CHIPS Act aims to bolster semiconductor production and economic competitiveness. Among its provisions are funding initiatives and an investment tax credit for manufacturing facilities and equipment.

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CHIPS and Science Act of 2022

CHIPS and Science Act of 2022

Posted by Cory Van Deusen V on August 11, 2022

On Tuesday, August 9, President Biden signed into law the CHIPS and Science Act of 2022 (CHIPS Act).

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Tax Breaks for Businesses and Self-Employed Taxpayers

Tax Breaks for Businesses and Self-Employed Taxpayers

Posted by Michē Needham on May 09, 2022

As the 2021 tax filing season progresses, small businesses and self-employed taxpayers should make certain they are taking advantage of all of the tax deductions and opportunities available to them on their 2021 federal income tax returns.

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Qualified Appraisals Necessary for Valuable Gifts to Charity

Qualified Appraisals Necessary for Valuable Gifts to Charity

Posted by Hayden Coll on May 04, 2022

There are certain requirements if you donate valuable assets to charity. The penalty for failing to follow the rules is generally denial of the charitable deduction. Here are the requirements for obtaining an appraisal.

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Mandatory Capitalization of R&E Expenses – Will the New Rules Impact Your Business?

Mandatory Capitalization of R&E Expenses – Will the New Rules Impact Your Business?

Posted by Kristin Re’ on March 16, 2022

Businesses that invest in research and development, particularly those in the technology industry, should be aware of a major change to the tax treatment of research and experimental (R&E) expenses.

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Fringe Benefit Tax Rules for a Company Vehicle

Fringe Benefit Tax Rules for a Company Vehicle

Posted by Kevin Smeader on December 09, 2021

Providing a company car to executives at your business is a prized perk. Here are the basic tax rules involved in this fringe benefit.

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New IIJA Legislation Impacts and Changes the Employee Retention Credit

New IIJA Legislation Impacts and Changes the Employee Retention Credit

Posted by Megan Morris-Smith on November 29, 2021

The sun has set on the valuable Employee Retention Credit. Here’s what happened.

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COBRA Provision under the American Rescue Plan Act

COBRA Provision under the American Rescue Plan Act

Posted by Kerry Roets on April 21, 2021

Do you have former employees currently on your COBRA rolls? Or employees that have been laid off within the last 18 months who haven't enrolled in COBRA but still could? Your company might need to pay for those COBRA benefits upfront for up to six months before recouping that expense via tax credits.

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Employee Retention Credit FAQs Released For 2020 Claims

Employee Retention Credit FAQs Released For 2020 Claims

Posted by Megan Morris-Smith on April 12, 2021

Under the 2020 ERC rules, 50% of qualified wages and healthcare expenses (up to $10,000 of wages per employee in 2020) are fully refundable if paid by businesses that experienced a full or partial suspension of their operations or a significant decline in gross receipts.

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