Category: Tax Credits & Incentives

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....

With federal changes to the way 529 plans work in Dec 2017 and MN changes to the way 529 plans work passed in summer 2017 now seems like the perfect time to take a deeper dive into a subject which many people have some awareness around, but perhaps don’t fully understand a...