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
“Don’t leave money on the table.” That could be an axiom for taxpayers everywhere. Yet every year countless taxpayers overlook money-saving opportunities in the form of tax credits. Claiming tax credits is a surprisingly underutilized strategy. Currently, there are over 1200 different tax credits available, and unlike tax deductions, these
What would you do for a lower tax bill? The good news is that you may not have to do much. One of the most underutilized tax strategies is to identify and claim tax credits. Many taxpayers may find that they qualify for a tax reduction based on behavior or
For landowners and investors alike, conservation easements have been a way to contribute to future generations and get a substantial tax break in the process. What exactly is a conservation easement? This type of legal agreement means that the landowner is voluntarily limiting their use of the land or ability
The world of tax law has a reputation for being complicated. This is certainly true, not only because the Tax Code can be difficult to interpret and confidently apply to real-life situations, but also because the rules are constantly changing. As legislators pass new measures and the IRS advocates for
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.
Step one on the journey to claiming the Employee Retention Credit is to steer clear of the “ERC mills” blasting their messaging across social media, radio ads, and roadside billboards. Their grand promises state things like: “Get $26,000 per employee through the Employee Retention Credit!” Unfortunately, these mills provide very
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