Technical Topics
Each downloadable white paper analyzes current taxation issues and proposes solutions.
Navigating Section 174: Compliance and Consequences for R&D Tax Credits
For businesses involved in research and development, compliance with Section 174 of the Internal Revenue Code is crucial. Recent changes in tax law, brought about by the Tax Cuts and Jobs Act of 2017 (“TCJA”), have altered how companies handle R&D expenses, requiring businesses to amortize these costs over time rather than deducting them immediately. In this paper, business owners will learn about Section 174, including the recent changes, the penalties for non-compliance, as well as best practices for ensuring compliance.
Navigating the ERC Scamming Landscape: A Guide for Businesses to Stay Protected
The ERC is a refundable tax credit for businesses and tax-exempt organizations that faced hardship during the COVID-19 pandemic. However, as with many financial relief programs, the ERC has become a target for fraudulent activities, leading to a surge in scams that businesses must be aware of. In this paper, business owners and CPAs will learn more about these fraudulent activities and how to spot them.
Tax Return Amendments under the Bipartisan Budget Act of 2015
In this paper, business owners and CPAs will find an overview of the new BBA regime, instructions to navigate the regime, and, finally, what is needed to amend returns. The section on amended returns focuses not just on compliance, but also the issues with refunds – wherein the major problem is identified for which we propose a potential solution.
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