Hot Topics Archives

New Standards On Public Tax Reporting Set By The Financial Accounting Standards Board

by Maria Cortez | Sep 13, 2023 | Hot Topics, Tax credit, What We Do

After a number of false starts, the Financial Accounting Standards Board (FASB) decided on requirements for companies to release tax information to the public and specifically to investors. The requirement won’t go into effect for a couple of years but...

Claiming Research And Development Credits Can Be Complex

by Maria Cortez | Aug 28, 2023 | Hot Topics, Tax credit, What We Do

Companies that engage in research and development can reap rewards in the form of tax credits. How credits and deductions can be claimed vary for state R&D deductions/credits. Federal deductions are more uniform but they can be complex. What qualifies as research?...

Oregon Has A Number Of Enterprise Zones Aimed At New Facilities And Businesses

by Sales Admin | Jul 26, 2023 | Hot Topics, Tax credit, What We Do

Oregon provides businesses with a number of opportunities for tax credits related to “enterprise zones” in the state. There are over 70 enterprise zones in Oregon And they include both rural and urban areas as well as ports and tribal lands. The different...

The IRS doesn’t just take money from American taxpayers. Sometimes the agency gives it back to whistleblowers. Well, in theory they do.

by Maria Cortez | Jul 18, 2023 | Hot Topics, Tax credit, What We Do

The IRS pays monetary awards to eligible people–between 15 and 30 percent of the money collected using the information provided. This sounds simple, put this way, but it is not. Awards of cash only come after all appeals are done. The process and awards happen...

Pennsylvania’s Keystone Innovation Zone Tax Credits Offer New Businesses Tax Savings And Meaningful Partnerships

by Sales Admin | Jun 27, 2023 | Hot Topics, Tax credit, What We Do

The Commonwealth of Pennsylvania has a tax incentive program for young, for-profit, companies in specific areas in the state. The Keystone Innovation Zone Tax Credit Program offers tax breaks for companies less than eight years old, located in a Keystone Innovation...

Only $10,000 Of State And Local Business Taxes Can Be Deducted On A Federal Return–With A Notable Exception

by Sales Admin | Jun 15, 2023 | Hot Topics, Tax credit, What We Do

In some cases you can deduct your state and local business taxes on your Federal return but not always. There is a catch. At the moment the most you can deduct on your Federal return is $10,000. There is also a catch to the catch; there is a way to deduct more. This...

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