Cost Segregation Study May Help You Accelerate Depreciation Deductions

Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may allow you to accelerate depreciation deductions, thus reducing taxes and boosting cash flow. And the potential benefits are now even greater due to enhancements to certain depreciation-related breaks under the […]

Selling Your Business? Defer Tax with an Installment Sale

You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money you’ve put into it. […]

Research Tax Credit Available to Some Businesses for the First Time

The Tax Cuts and Jobs Act (TCJA) didn’t change the federal tax credit for “increasing research activities,” but several TCJA provisions have an indirect impact on the credit. As a result, the research credit may be available to some businesses for the first time. AMT reform Previously, corporations subject to alternative minimum tax (AMT) couldn’t […]

IRS Proposes Regulations for Opportunity Zone Tax Incentives

The Tax Cuts and Jobs Act (TCJA) includes a provision that Secretary of the Treasury Steven Mnuchin said should lead to $100 billion in capital investments in distressed areas. The provision allows taxpayers to defer tax on capital gains by investing in such Opportunity Zones. And now the IRS has released proposed regulations for this […]

Manufacturing R&D Tax Credits

Of particular relevancy to manufacturing companies is the research and development tax credit (R&D tax credit), a tax incentive program. Also known as the research and experimentation tax credit or the research tax credit, it allows manufacturing companies to be the engines of innovation our nation always has benefited from by making research activities cheaper […]

How to Put Financial Statements to Work for Your Business

Spring is the time of year that calendar-year-end businesses receive financial statements that conform to U.S. Generally Accepted Accounting Principles (GAAP) and prepare tax returns. This year, take your financial data beyond compliance and use it to develop a comprehensive business plan. Also, assess how your business measures up over time and against the competition. […]

Smart Factories and Blockchain Technology

Most manufacturers have already applied classic business management concepts, such as just-in-time production and continuous improvement initiatives, to enhance cash flow and efficiency. But those efforts might not be enough to stay competitive in a technology-driven marketplace. Here’s how smart factories and blockchain technology are expected to revolutionize the manufacturing industry in the 21st century. […]

Small Business Owners Get Unprecedented Tax Break – Make Sure Your Company Gets Theirs

There are a whole host of new tax rules designed to lower the tax burdens for all companies.  It is important that you are aware of the changes to ensure you get the benefits. The larger corporations (C-corporations) that pay taxes themselves, rather than passing the tax burden onto their shareholders, received a big tax […]

Revenue Recognition – Accounting for Uninstalled Materials

One of the significant changes required by the new accounting guidance under ASU 2014‑09, Revenue from Contracts with Customers (Topic 606) relates to accounting for uninstalled materials. Under current accounting practice, the cost of materials specifically produced, fabricated, or constructed for a project, including those that are not yet installed, are to be included in the […]

IRS Issues New TCJA Guidance for Businesses

The Tax Cuts and Jobs Act (TCJA) created a new general business tax credit for certain businesses that grant their qualifying employees paid family and medical leave in 2018 and 2019. The IRS now has released Notice 2018-71, which addresses several related issues, including eligibility, types of leave covered and calculation of the credit amount. […]

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