45L: The Energy Efficient Home Credit – Infographic

08/14/2017

Homebuilders and multi-family developers have a unique opportunity to capitalize on an energy efficient home credit that is often overlooked. The 45L Tax Credit offers $2,000 per qualified dwelling unit that can also be claimed retroactively if missed in prior years; however, the clock is ticking. There is a limited timeframe for claiming missed credits, … Read More

KBKG Tax Insight: Maximizing the Value of the Orphan Drug Tax Credit

07/19/2017

The Pharmaceutical and Life Sciences industry currently faces a range of issues, including the rising costs of discovery and development, major losses of revenue due to patent expirations, and increased complexities due to demanding regulatory requirements. Moreover, developers of orphan drugs must overcome a host of additional challenges that make it difficult to recoup investments … Read More

KBKG Tax Insight: Illinois Reinstates the R&D Tax Credit

07/07/2017

On Thursday, July 6th, the Illinois state legislature successfully voted to override Republican Governor Bruce Rauner’s veto, giving the state its first operating budget in two years.  Included in the $36 billion spending plan is an extension of the state’s research and development tax credit through December 31, 2021.  The research and development (R&D) credit … Read More

KBKG Tax Insight: Guide to Expensing Roofing Costs

06/21/2017

Each year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be written off as a repair expense or capitalized. The most common, and often significant, item that is evaluated is roofing-related work. In many cases, only a portion of the roofing system is replaced, … Read More

KBKG Insight: Tax Court Rejects Taxpayer’s Land vs. Building Allocation

06/13/2017

On May 8, 2017, the U.S. Tax Court released Summary Opinion 2017-31 to conclude that a county assessor’s allocation to land and improvement values were more reliable than the taxpayers proposed values.  The tax court noted they could not find any authority that suggests a taxpayer is qualified to allocate the value of the property … Read More

KBKG Tax Insight: Is a More Valuable R&D Credit Coming Soon?

06/08/2017

The R&D tax credit, which awards companies large and small for their innovative efforts and that was made permanent in 2015, could now be more lucrative with new bi‐partisan support. Senators Chris Coons (D‐DE) and Pat Roberts (R‐KS) have introduced a bill increasing the R&D credit up to 25% for companies that not only conduct … Read More

KBKG Tax Insight: New R&D Payroll Tax Credit Estimator tool

05/02/2017

The R&D tax credit is now permanent and for the first time ever, small businesses and start-ups can take advantage of this lucrative tax credit. Every year, billions of dollars are given to qualified businesses. Estimate your tax savings using our quick, simple R&D Payroll Tax Credit Calculator and save up to $250,000.