The pandemic hit businesses hard due to government shutdowns and lockdown orders. Many businesses were forced to temporarily close their doors or reduce their operations. As a result, many employees were either laid off or had their hours reduced. The federal...
Cost segregation is a tax planning strategy that reduces federal income tax liability by accelerating the depreciation of commercial building costs. It can be a smart way for businesses to make their real estate investments work for them sooner. Let’s look at...
For the Biden administration and the Democratic party, the Build Back Better plan has become something of a moving target. Despite the apparent need for most of the essential elements of the program, passing it has become an uphill battle and then some for a variety...
As we enter the tax filing season, business owners across the country are busy harmonizing their papers to make their tax filing process as seamless as possible. But for thousands of these business owners, this might mark yet another frustrating season as the IRS...
Tax time brings a range of feelings for business owners. Whether it’s indifference or mild anxiety, no one loves the thought of paying taxes on the profit. But there are certain things to get excited about — tax credits. Credits are incentives put forward by local,...
Maximizing the efficiency of your client’s tax-paying dollar is the most important job of every accounting firm. Making the most out of every available tax credit is a proven game plan to reach the goal of not paying more than you owe. The problem? Your client...
