Posts Tagged ‘Tax Credits’
Webinar: How R&D Expenditures Can Impact Your 2022 Tax Plan and Beyond
The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to Section 174 that will affect companies that perform research and development (R&D). Join the webinar to understand how these changes can impact your 2022 tax year and into the future. This webinar will covers: How these changes impact your R&D expenses Developing…
Read MoreBrace for Impact: Changes to R&D Deductions Begin This Year
At a glance The full story: The Tax Cuts and Jobs Act (TCJA) of 2017 may seem like ancient history, but some portions of the legislation are just beginning to come to fruition, including unfavorable changes to how taxpayers should treat their R&D costs (also referred to as research and experimentation (R&E) costs in the…
Read MoreU.S. Tax Planning Opportunities for Bona Fide Residents of Puerto Rico
At a glance: Schedule a consultation today! The full story: Over the years, the Puerto Rican government has created several tax incentives and credits to make Puerto Rico a destination for economic development and investment. In this article, we’ll explore the tax planning opportunities available to taxpayers who become “bona fide residents” of Puerto Rico,…
Read MoreDigital Asset Staking: Your Top Tax Questions, Answered
At a glance Schedule a consultation today The full story: As its name implies, the United States Internal Revenue Code sets forth rules for how income is taxed in the U.S. Income is defined as “revenue received for goods or services, or from other sources, as rents or investments” or “the money, or amount of…
Read MoreNew Guidance from the IRS Makes Claiming R&D Credits More Complex
At a glance Schedule a consultation with Aprio’s R&D Tax Credit Team today. The full story: In the fall of 2021, the Internal Revenue Service (IRS) issued a Chief Counsel Memorandum requiring stricter reporting and documentation for any taxpayer making an amended claim for a refund arising from an R&D tax credit. In order to comply…
Read MoreThe Good News About Build Back Better Act (BBBA) Not Moving Forward
The Full Story The BBBA eliminates a permitted exclusion in the Net Investment Income tax provisions by subjecting all trade or business income of individuals with earnings over $400,000 (individual) or $500,000 (married couples) to the 3.8% net investment income tax—except to the extent already subject to self-employment tax. This is an unfavorable change for…
Read MoreThe Bad News Not Being Reported on the Demise of the Build Back Better Act
At a glance The main takeaway: With the demise of the Build Back Better Act (BBBA), a clause from a 2017 tax legislation is resurfacing that will heavily impact any company who performs or invests in research and development. Impact on your business: The 2017 tax act will force many companies to now budget or use working…
Read More1031 Exchanges –Navigating Related Party Exchanges
At a glance: The main takeaway: With careful tax planning, 1031 exchanges offer taxpayers an opportunity for big savings on income taxes. Know the risks: Few good things ever come easy, and 1031 exchanges are no different. One of the biggest risks is structuring a transaction with a related party. Next Steps: Taxpayers can often mitigate the risks…
Read MoreThe DOL Delivers Final Ruling on Reinstated 80/20 Rule
At a glance Schedule a free consultation with Aprio’s Restaurant, Franchise & Hospitality team today. The full story: On October 29, 2021, the U.S. Department of Labor (DOL) published a final ruling on “dual jobs,” which will reinstate the 80/20 rule as well as introduce a new 30-minute rule for tipped employees. The final ruling…
Read MoreCatch Them if You Can: Fraud in the Film Industry
At a glance: Schedule a consultation with our team today. The full story: The film industry often evokes visions of Hollywood grandeur, enticing many to pursue a career in acting, directing, or producing. However, the glittering and glamorous lifestyles of the rich and famous often overshadow the seedy underbelly of an industry that can be…
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