When faced with rising operating costs, what can hotels do to maintain a stable profit margin without impairing the guest experience?  In various cities across the country, hotels are seeking to solve this dilemma as they are subjected to escalating minimum wage rates. The nationwide push for low-wage workers to secure better pay is intensifying, [...]

With laws and regulations constantly changing, businesses must always be vigilant about the impact that these requirements may have on their operations.  Laws dictating minimum wage rates are particularly important to businesses, as the cost of paying employees is a major factor in formulating budgets and estimating profits.   This year, numerous businesses in the US can [...]

Thanks to the Protecting Americans from Tax Hikes (PATH) Act, the Research and Development (R&D) Credit is now a permanent part of the tax code and is available to a broader group of business taxpayers than it had been in the past.  Signed into law on December 18, 2015, the PATH Act ended the previous [...]

The recently enacted Protecting Americans from Tax Hikes (PATH) Act extended the §179D deduction for energy-efficient commercial buildings through the end of 2016 and retroactively renewed it for projects completed during 2015.  Section 179D provides a deduction of up to $1.80 per square foot when energy efficiency measures are implemented in new or existing commercial [...]

Following the renewal of the §179D deduction as part of the Protecting Americans from Tax Hikes (PATH) Act, which was signed into law on December 18, 2015, tax professionals were anticipating guidance from the IRS regarding the specific stipulations of the deduction under the new law.  However, citing budget constraints, the IRS has stated that [...]

Update: President Obama has signed into law the Protecting Americans from Tax Hikes Act, renewing tax extenders like the §179D deduction and the Work Opportunity Tax Credit and making the Research and Development Credit a permanent part of the tax code. Following weeks of Congressional debate, President Obama has signed into law a bill that [...]

With the end of the year looming on the not-so-distant horizon, businesses should be taking the time to review opportunities to boost their bottom lines through tax savings.  At some point before December 31, Congress will vote on whether to renew a set of popular tax provisions, collectively known as tax extenders.  The tax extenders [...]

Don’t miss the opportunity to boost your bottom line through tax savings — stay tuned for news from Congress about the tax extenders! As the end of the year rapidly approaches, Congressional haggling over renewal of the more than 50 provisions known as the tax extenders has resumed.  The tax extenders include important incentives such [...]

Update: On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, or “tax reform.” This law eliminates the corporate AMT for tax years 2018 and beyond. Therefore, the AMT will no longer be a limitation for business taxpayers using the R&D Credit and other incentives to reduce their tax burdens. [...]

Each year, many small businesses leave dollars on the table by neglecting to claim tax incentives for which they are eligible.  Architecture firms are not immune to this oversight.  In fact, the tax code provides a few incentives for which the activities of architecture and engineering firms are uniquely suited.  Understanding the requirements imposed by [...]