After months of deliberation, Congress passed a sweeping new $900 billion COVID relief bill on December 21. The bill, officially called the Consolidated Appropriations Act 2021, H.R. 133, was signed into law by President Trump on December 27, thereby enacting numerous measures designed to provide financial assistance for individuals and businesses impacted by the ongoing [...]
For countless businesses, the significant disruptions stemming from the COVID-19 pandemic have caused unprecedented financial challenges this year. Therefore, as 2020 comes to an end and businesses start preparing for tax season, it is crucial to seek opportunities to minimize taxes. The right tax strategy can help businesses save money and boost cash flow, thereby [...]
As the year enters its fourth quarter, an important deadline is looming for commercial building owners and designers seeking opportunities to minimize their tax burdens: the §179D deduction for energy-efficient buildings is currently due to expire on December 31, 2020. As one of the “tax extenders”—a group of temporary tax incentives that are only authorized [...]
A Yorba Linda, California hotel that was part of a large, national brand had recently undergone a major renovation. With improvement costs totaling approximately $5.7 million, the hotel was seeking opportunities to reduce its tax burden. After consulting Capital Review Group to identify overlooked tax incentives, our team determined that the hotel was eligible for [...]
A structural engineering firm was hired by the State of Washington to design three new schools, which totaled an estimated 281,558 square feet. The designs incorporated several energy efficiency measures in the lighting systems, HVAC systems, and the building envelope. These measures exceeded ASHRAE Standard 90.1-2007, indicating that the buildings met the latest widely accepted [...]
An architecture firm in Connecticut was hired by a government entity to design an 89,693 square-foot elementary school. The design, which was completed in 2020, included several energy efficiency measures in the school’s lighting, HVAC systems, and the building envelope. These measures were found to exceed the standards of ASHRAE 90.1-2007 by over 50 percent, [...]
From designing sustainable buildings to developing plans that incorporate more cost-efficient materials or construction methods, architects and engineers often pursue innovative new techniques in their day-to-day work. However, many architecture and engineering firms miss out on the opportunity to significantly reduce their tax burdens with a commonly overlooked incentive: the Research and Development (R&D) Tax [...]
As the COVID-19 pandemic has forced countless businesses across the country to curtail operations, the U.S. government recently passed a massive stimulus package designed to minimize economic devastation: the Coronavirus Aid, Relief and Economic Security (CARES) Act. This $2 trillion measure offers both direct financial aid and various forms of tax relief in order to [...]
As a CPA, helping your clients achieve their financial goals through strategic application of the tax code is an integral part of your mission. However, with frequent changes to state and federal tax law—as well as numerous tax code provisions that are often overlooked or misunderstood—it can be difficult to cut through the confusion and [...]
Over the course of a few short months, the novel coronavirus (COVID-19) has rapidly spread around the world, infecting hundreds of thousands of people and wreaking havoc on the global economy. In an effort to remain solvent, businesses in nearly every industry are faced with devastating decisions, from laying off employees to halting operations—at least [...]