Category Archives: Federal Tax Advisory Update

Connecticut, CT, NEIGHBORHOOD ASSISTANCE ACT

SALT Advisory Insights: A Spotlight on the Connecticut R&D Tax Credit Program

Part of a Series on State and Local R&D Tax Credits Connecticut offers a research and development tax credit for related expenditures made in the state. Qualifications for the credit closely mimic those of the federal R&D tax credit. The credit may be applied against the state’s corporate business tax. Connecticut differentiates between a non-incremental

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r&D, R&D Tax Credit, Deadline

MARCH 31ST DEADLINE FOR START-UPS TO CLAIM R&D TAX CREDIT REFUNDS APPROACHING

If qualified start-up companies with research and development activities want to take advantage of the option to offset payroll taxes in the second quarter, the deadline is quickly approaching. Qualified start-up companies have until March 31, 2019, to file their 2018 tax return if they want to offset their payroll taxes in July 2019. Under

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Tax Strategy – New Jersey Tax Incentives

New Jersey Tax Incentives: Launch and Grow Your Tech Start-up Strategically

Take Advantage of R&D Tax Credits, NOL Sales, Other Growth-oriented Programs When planning to launch a tech start-up on the east coast, many entrepreneurs automatically think Boston’s 128 corridor or New York City’s Silicon Alley. We propose that from a business and taxation perspective, there’s another strategic place to consider for starting and growing a

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accounting and tax services

A Guide for CPAs: How – and Why – to Introduce Clients to Specialty Accounting and Tax Services

Partnering to Provide R&D Tax Credit, Cost Segregation and Other Capabilities as a Growth Strategy. We’re pleased to introduce a new ebook we’ve created specifically for the CPA community. It’s titled, A Guide for CPAs: How – and Why — to Introduce Clients to Specialty Accounting and Tax Services. You can download it for free.

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understanding R&D tax credit

Does Your Company Qualify? Understanding R&D Tax Credit Requirements

Drilling Into the IRS’ Four-Part Test. If your company is in an industry that qualifies for R&D tax credits, it makes sense to explore whether any of your operations and related expenses meet the R&D tax credit requirements. Many business owners only think science labs, beakers and test tubes when it comes to R&D. Actually,

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IRS, Internal Revenue Service, R&D Tax

The IRS Issues New Administrative Authority Governing the Tax Treatment of Depreciation and Expensing Rules

On December 21st of 2018, the Internal Revenue Service (hereinafter the “Service”) issued new administrative guidance in the form of Rev. Proc. 2019-08 governing expense deductions and depreciation measures in connection to real property as enacted by the 2017 Tax Cuts and Jobs Act, Pub. L. No. 115-97, (hereinafter the “TCJA”’). It should be duly

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New Jersey

SALT Advisory Insights: A Spotlight on the New Jersey R&D Tax Credit Program

Part of a Series on State and Local R&D Tax Credits. Many states offer tax credits from research and development spend that complement the Federal R&D Tax Credit program. However, each of these programs has unique aspects. This article is part of a tax technical series that will explore the more popular programs and outline

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R&X tax credits for contract manufacturing

Contract Manufacturers: Take Advantage of R&D Tax Credits for Manufacturing

Learn What Activities May Qualify for Significant Tax Savings. Calculating the Research and Experimentation Tax Credit (RTC) under IRC §41 allows taxpayers engaged in qualified Research and Development (R&D) activities to claim a credit against their income taxes. Eligible costs include employee wages, costs of supplies that are used and consumed or destroyed in R&D

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selecting R&D Tax Credit Specialists

Selecting R&D Tax Credit Specialists: 7 Key Questions

R&D tax credits are among the most potentially lucrative tax incentives available today for companies developing new products and enhancing manufacturing processes. For qualifying start-ups and more established privately held companies, they can free up precious capital for scaling growth. For larger enterprises, R&D tax incentives can contribute mightily to multi-year tax planning and savings.

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Opportunity Zone

Treasury Releases Proposed Regulations for Opportunity Zones

On October 19th, 2018 the Department of Treasury has issued proposed regulations for Opportunity Zone Investors and has sent these rules over to the IRS. The proposed regulations provide guidance under new section 1400Z-2 of the Internal Revenue Code relating to gains that may be deferred by investors for investments in a qualified opportunity fund

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