The TCJA requirement that all Section 174 (R&E) expenses be amortized over a 60 (domestic) or 180 (foreign) month period is still in place. However, there are two bills introduced in 2023, one in the Senate and one in the…
The term “prevailing wage” has long been used in the context of federal agencies that award or fund contracts for the construction or repair of public buildings or public works. The rules were originally proscribed in the Davis-Bacon and Related…
I can’t begin to tell you how excited I am that the 2023 Unique CPA Conference will be an in-person event this year. Scheduled to kick off with an evening event on August 28, followed by two comprehensive days of…
The r(EVOLUTION)ary Shake-Up Is Happening - Are You On Board? The Unique CPA has lined up a list of the top names in accounting to share their industry insights at our 2nd Annual Virtual Conference. Registration closes soon,…
Inflation Reduction Act of 2022 – Changes for 179D The Inflation Reduction Act of 2022 has been signed. The legislation includes some key changes to §179D that must be addressed. What does this mean for the §179D deduction? This is…
Research and Development (R&D) is integral to the business ecosystem as it spurs invention, innovation, and progress. R&D is perhaps one of the main drivers of business efficiency and growth since it allows improvements to existing processes, the creation of…
Businesses and individuals are always looking for ways to minimize their tax burdens. One way to do this is through cost segregation. Cost segregation is a strategic tax planning tool that allows businesses and individuals who have purchased, constructed, remodeled,…
If you've sold or traded Bitcoin, Ethereum, or any other cryptocurrency this year, then you probably have a tax obligation. While crypto is largely anonymous, it is increasingly common for crypto trading sites and exchanges to issue users with IRS…
There are a number of misconceptions surrounding the Employee Retention Credit (ERC). These misguided thoughts are made worse by a number of issues, including: Updates to legislation A number of updated guidance from the IRS Confusing and conflicting information And…
Generally Accepted Accounting Principles (GAAP) are standards, principles, and procedures for accounting issued and maintained by the Financial Accounting Standards Board (FASB). GAAP methods standardize accounting recording and reporting across companies, establishing uniform methods for treating specific items and topics…