Most taxpayers would say they want to take every legally permissible step to lower their tax bill. Yet each year taxpayers fail to claim tax credits they are fully eligible to receive. These credits are often attached to behavior or practices that taxpayers are already engaged in. The missing piece
Every year countless taxpayers overlook money-saving opportunities in the form of tax credits. This provides tax professionals with an opportunity to look like magicians as we whip money-saving strategies out of our proverbial hats in the form of readily available credits that our clients may have never heard about. Taxpayers
For the investment-focused landowner, conservation easements have served as a means to a substantial tax break. A conservation easement is when a landowner agrees to permanently limit their use of the land or ability to make changes to the buildings on it. This conservation may have environmental goals, such as
Navigating the Tax Code can be like trying to follow a map where the lines are constantly shifting. Every month, it seems like new guidance is released, new legislation is passed, or new cases are tried by tax courts, and suddenly, applying tax law has become a completely different game.
As we mentioned in our last blog, small business owners can see major benefits from the Employee Retention Credit with a little expert guidance. Unfortunately, many taxpayers have seen endless promotions from “ERC mills” proclaiming promises like “Get $26,000 per employee through the Employee Retention Credit!” Unfortunately, these mills provide
Taxpayers have been pummeled by the same eye-catching ads all tax season: “Get $26,000 per employee through the Employee Retention Credit!” Messages like this have been appearing across social media, radio ads, and even roadside billboards. These “ERC mills” make grand promises but provide very few details on how to
First-time investors may spend a great deal of time and effort researching the best possible investment opportunities—but fail to take into consideration the tax consequences. What they may not know is that spending just a portion of that time on tax planning can save some or even all of their
Profiting from investments and reducing tax liability may seem like competing goals, but both can be accomplished with a little proactive tax planning. In the world of tax strategy, timing is key to keeping taxes low. One sometimes-overlooked approach is to be deliberate about when you realize and deduct financial
Long-term investment success is about more than the initial investment decision. As tax professionals know, timing can have a dramatic impact on the tax consequences for investment activities—but timing can also be used to your clients’ advantage. Remember that appreciation on investments is not considered taxable income until that investment
By Kevin Zolriasatain, Principal of KBKG Many businesses, small and large, rely on research and development to improve their offerings, compete with international markets, and increase profits. The implications of recent changes to section 174 and no movement from Congress have left many business owners unsure of how to move