PRESIDENT TRUMP ANNOUNCES TAX REFORM OUTLINE

Today, the Trump Administration released its outline for corporate & individual tax reform.  While not draft legislation, the announcement serves as the Administration’s “opening offer” in the forthcoming tax debate.  Here are some of the highlights: 15% Corporate Rate; Also Applied to “Pass Through” Income. The corporate income tax rate would be lowered from 35% Read the full article…


Corporate Tax Reform

What’s the Latest? Now that the new Trump administration is in office and Congress has begun preparing its agenda, additional insights regarding corporate tax reform have come to light. The proposal’s substance hasn’t changed much. The overall concept of the plan put forward by the House Ways and Means Committee Chairman, Kevin Brady (R-TX), outlined Read the full article…


R&D Credit Guidelines for Startup Companies

With 2017 fast approaching, business owners and executives at startup companies should be preparing to claim the research & development tax credit. Why now?  For the first time, Qualified Small Businesses (“QSBs”), (companies under $5MM in gross receipts with less than 5 years of revenue), who normally could not utilize a Federal income tax credit, Read the full article…


R&D Tax Credit Alternative Minimum Tax (AMT) Offset

New legislation allows eligible businesses to offset the R&D credit against alternative minimum tax. Beginning in 2016, eligible small businesses can claim the R&D credit against the AMT. The ability to offset the credit against AMT removes a significant obstacle previously associated with utilization of R&D credits. Under the PATH Act of 2015, which made Read the full article…


R&D Tax Credit Do’s and Don’ts for the Construction Industry

Guidelines When Identifying R&D Credit Opportunities.  R&D credit service providers are looking at construction industry companies to identify R&D tax credit opportunities. Design/build, general contractors, and specialists such as electrical and mechanical/HVAC contractors are all candidates for potential R&D credit claims. There are many construction companies whose activities and projects will qualify for R&D tax credits.  Read the full article…