Category: Tax Credits & Incentives

You may have heard about a proposal in Washington to cut the taxes paid on investments by indexing capital gains to inflation. Under the proposal, the purchase price of assets would be adjusted so that no tax is paid on the appreciation due to inflation....

While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal incom...

If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s a dependent tax credit that may be available to you. It’s not as valuable as...

The Tax Cut and Jobs Act substantially improved the Child tax credit and introduced a brand-new credit for dependents. The credits effective for year 2018 so be sure to factor these into your tax filings for 2018. Here is a summary of both credits:...

A new general business credit was introduced with the Tax Cuts and Jobs Act for employers who provide paid family and medical leave to their employees for 2018 and 2019. To take advantage of this credit, employers must have a separate provision in the employer's policies; mo...

To capitalize or to expense? Property owners tend to struggle with wanting to expense as much repairs and maintenance (R&M) as possible during the year to maximize tax deductions, and to possibly increase any losses during the year. We assist many clients with determining wh...

The Work Opportunity Tax Credit, or WOTC for short, is a somewhat complicated tax credit.  Basically, a tax credit exists when a business pays wages to employees that are part of a qualified group.  The obvious question is what makes an employee part of the qualified group...

A cost segregation study looks at a building or piece of property and segregates the total cost into portions with shorter depreciable lives.   This optimizes depreciation resulting in substantial cash flow benefits.  In general, a building is classified as 39 year proper...

Both the federal and state research and development credits (R&D credit) are in place to reward those companies that develop new products or new processes....