BOI Reporting Reminder – Don’t Delay!
Deadlines for Beneficial Ownership Information (BOI) reporting will be here soon. As a reminder, you may have an additional reporting requirement this year as a result of the Corporate Transparency…
An Update to the Research & Development Credit (Form 6765) Changes
The IRS has issued an update to previously announced changes to the Research & Development Credit Form 6765. Schedule G of the form will require taxpayers claiming the Research &…
Tax Credit for Web Accessibility Expenditures
In 1990, under the administration of President George H.W. Bush, the Americans with Disabilities Act (ADA) was enacted to prohibit discrimination against individuals with disabilities. As an extension of this…
2024 Massachusetts Sales Tax Holiday is Just Around the Corner!
The Massachusetts Department of Revenue announced recently that the 2024 Sales Tax Holiday will be held on August 10th and 11th. If you are thinking about making a purchase on…
Newly Proposed Reporting Requirements for the R&D Credit
The R&D Credit has long been a big boost for companies involved across several STEM fields such as engineering, biology, computer science, and many others. Companies who incur Qualified Research…
Looking Ahead: Sunset Provisions of the Tax Cuts and Jobs Act of 2017
As the Tax Cuts and Jobs Act (TCJA) is set to expire in 2025, Congress is considering extending certain provisions and/or potentially introducing new changes for the 2026 tax year.…
Automobile Recordkeeping Tax Rules Revisited
Every once in a while, it pays (in tax savings and avoidance of IRS audit headaches) to go over the basics of claiming automobile business usage and the records required…
Employers and Educational Assistance Programs
Looking for ways to attract and retain talented employees? Consider adopting an educational assistance program (EAP) for your business! Under an EAP, employers can provide educational assistance to their employees,…
Procrastination and Taxes – They Don’t Mix
The dictionary defines procrastination as “the action of delaying or postponing something...”. And yet, we all know that taxes, at some point, cannot be delayed beyond the tax filing deadlines.…
Be Wary of a Few Technical Traps that can Turn Your QSBS Company into a Nonqualified Company
Your business is doing well, acquisition discussions are starting with potential buyers and you have met what you think qualifies your Company for QSBS treatment (also referred to as 1202…