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Tax Credits and Incentives Articles

 

Start-Ups Can Increase Cash Savings by Claiming R&D Payroll Credits Along with COVID-19 Aid Packages

Start-Ups Can Increase Cash Savings by Claiming R&D Payroll Credits Along with COVID-19 Aid Packages

Posted by Kristin Re’ on May 01, 2020

Start-ups that are eligible to claim the R&D credit for payroll tax offset can increase the cash benefit by also taking advantage of recent novel coronavirus (COVID-19) aid packages.

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New York State Budget Approval Adds Two Additional Tax Credit Programs

New York State Budget Approval Adds Two Additional Tax Credit Programs

Posted by Kelsey Weigel on April 27, 2020

Included as part of the recently signed 2021 New York state budget, the Excelsior Jobs Program has been expanded to allow for a higher amount of tax credits for companies working on green projects.

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7 Valuable Tax Credits for Small Businesses

7 Valuable Tax Credits for Small Businesses

Posted by Michē Needham on March 06, 2020

Unlike tax deductions, tax credits reduce your tax bill, dollar for dollar. But some taxpayers who file their own returns risk overlooking these lucrative tax-saving opportunities. Here's an overview of seven popular credits for small business owners to consider on their 2019 tax returns and beyond. Several of these breaks have been recently increased or extended by Congress.

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New Law Provides Manufacturers With Tax-Saving Opportunities

New Law Provides Manufacturers With Tax-Saving Opportunities

Posted by Cory Van Deusen V on January 29, 2020

The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extends various business credits and incentives, repeals a tax aimed at manufacturing companies and creates a new credit for employers in disaster areas.

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Federal Opportunity Zones: Investment and Deferral Strategy

Federal Opportunity Zones: Investment and Deferral Strategy

Posted by Brian Kern on January 06, 2020

With the passage of tax reform legislation knows as the Tax Cuts and Jobs Act (TCJA), a significant opportunity exists for investors to defer capital gains tax owed.

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Final Regulations Limit Federal Charitable Contribution Deductions in Connection With Receipt of State Tax Credits

Final Regulations Limit Federal Charitable Contribution Deductions in Connection With Receipt of State Tax Credits

Posted by Mark Stack on August 12, 2019

On June 13, 2019, the IRS and Treasury Department issued final regulations under Section 170, limiting federal charitable contribution deductions when taxpayers receive or expect to receive state or local tax (SALT) credits in return for charitable donations.

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IRS and Treasury Release Second Set of Opportunity Zone Guidance

IRS and Treasury Release Second Set of Opportunity Zone Guidance

Posted by Cory Van Deusen V on June 14, 2019

On April 17, 2019, the IRS and Treasury issued its much anticipated second set of proposed regulations under Internal Revenue Code, Section 1400Z-2, Special rules for capital gains invested in opportunity zones. 

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