While tax credits and deductions typically don’t provide much benefit to nonprofits, if any at all, recent changes to the Inflation Reduction Act (2022) that were passed in 2023 now provide incentives to qualifying nonprofit organizations. Foremost among these changes…
Written by Natalie Grumhaus On March 11, 2024, and effective as of May 10, 2024, the IRS published the finalized regulations allowing tax-exempt organizations, along with a select number of for-profit companies, to elect to treat tax credits as a…
By Randy Crabtree, CPA Are you feeling tired all the time? Are you having frequent negative thoughts about your work and questioning why you became an accountant? Are you not caring as much as you used to? Is your efficiency…
by Barry Devine This article will provide what manufacturers need to know about The Qualifying Advanced Energy Project Credit (48C) program. The aim is to explain the technical evaluation process, information related to the application process, utilization of the credit,…
Enhanced Tax Credits for Businesses and Families: A $78 Billion Proposal January 16, 2024 In a bipartisan effort, Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.) have announced a new tax…
Helping Manufacturing Clients Qualify for Advanced Energy Project Credits By Barry Devine The Advanced Energy Project Credit provides qualifying manufacturers with billions of dollars in tax credits for making investments in advanced energy projects, as defined in 26 USC § 48C(c)(1). Most…
Tri-Merit's 2023 Updates: A Year of Growth and Change As we navigated through 2023, the landscape of the R&D tax credit world had gone through significant alterations. At Tri-Merit, we are closely monitoring these changes to serve our clients better…
Tri-Merit's New Service Offering: ERC Verification Explained Tri-Merit has recently launched a new service offering - Employee Retention Credit (ERC) Verification. This article will detail the process and answer some common questions. The ERC Verification Process The ERC verification process…
Written by Natalie Grumhaus With the harmful changes under the Tax Cuts and Jobs Act (TCJA) forcing the capitalization and amortization of research and experimentation costs, Tri-Merit has continued to advocate for its clients while also keeping a close eye…
We are excited to announce the return of the Bridging the Gap conference in 2024 after a highly successful debut last year. In 2023, our central theme was work-life balance and mental health, and we're thrilled to continue that focus…