Tax Credits and Incentives Articles
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.