Deduction overlap: One of the most significant Tax Cuts and Jobs Act (TCJA) provisions included 100% bonus depreciation. For years since the passing of TCJA, taxpayers enjoyed the benefit of a 100% first-year deduction for assets placed in service during the tax year. There is a definitional overlap between bonus depreciation and other deduction rules. [...]
When the Inflation Reduction Act (IRA) was signed into law last year, it brought several welcome changes to the §179D deduction for energy-efficient commercial buildings. For example, the new law raised the maximum deduction amount from $1.88 to $5 per square foot, lowered the threshold for qualifying energy efficiency measures, and allowed new categories [...]
The Tax Cuts and Jobs Act—the sweeping tax reform law enacted in December 2017—has garnered significant attention for drastically lowering the corporate tax rate and expanding incentives for individuals and businesses. However, one lesser-known feature of the new tax law is the Investing in Opportunity Act, which established the Opportunity Zone program. Created with the [...]
As the year quickly draws to a close, the time has come for businesses to start the onerous process of preparing for tax season. Although the end of the year tends to be hectic, it is crucial to begin gathering paperwork and planning strategies in order to reduce your business’s 2018 tax burden. Recent changes [...]
From manufacturing companies streamlining processes to architecture firms developing innovative building plans, businesses in a wide variety of industries routinely conduct research and development (R&D) activities. Unfortunately, however, many of these businesses do not realize that they may qualify for the R&D Tax Credit, a dollar-for-dollar federal tax credit that offers a powerful way for [...]
On June 21, the Supreme Court issued a ruling that overturned a 26 year-old precedent and will impose a costly compliance burden on numerous businesses that sell goods online. The Court’s 5-4 decision in South Dakota v. Wayfair held that states may require online retailers to collect sales taxes on internet purchases—even if the retailer [...]
The team at Capital Review Group (CRG) is pleased to announce that Jordan Taylor, will serve as the company’s new CEO, taking over the reigns from Marky Moore. Ms. Moore founded CRG in 2004 to provide critical tax and specialty services to professional advisors, clients and institutional partners. In the years since, she has grown [...]
Since its enactment under the Energy Policy Act of 2005 (“EPAct”), the §179D deduction has been a powerful tool for promoting sustainability while saving commercial building owners and primary designers thousands of dollars in taxes. However, this important incentive has never been a permanent part of the tax code and has traditionally expired at the [...]
The Research and Development (R&D) Tax Credit saves businesses billions of dollars each year, yet less than ten percent of those savings are seized by small-to-medium-sized companies. Also known as the Research and Experimentation (R&E) Credit, the credit for increasing research activities, or simply the research tax credit, this valuable incentive is riddled with misconceptions [...]
As a tax or financial advisor, your mission is to aid clients on their journeys to optimal financial well-being. For your business clients, proper tax planning forms an integral part of an overall financial strategy designed to maximize profitability. However, frequent changes in state and federal tax law can make it difficult to maintain a [...]