What is the Employee Retention Tax Credit and Why KBKG
What is the Employee Retention Tax Credit? Why KBKG is the Trusted Partner Your Business Needs Thought Leadership by KBKG The Cares Act Employee Retention Tax Credit has provided relief for many businesses impacted financially by COVID-19, but implementation has been a challenge. There has been an influx of fraudulent ERC “mills” that market themselves … Read More
Mississippi Allows Businesses to Deduct Research or Experimental Expenditures
By Jon Tucker, Principal | Published Monday, April 3rd, 2023 On Monday, April 3, 2023, Mississippi passed H.B. 1733, a change in the Mississippi State Income Tax Law. The law allows businesses to elect to fully deduct research or experimental expenditures in the year they are incurred. It suggests changing the methods of depreciation used … Read More
American Innovation and Jobs Act Aims to Expand R&D Tax Credits and Address Confusion Over Section 174 Rules
American Innovation and Jobs Act Aims to Expand R&D Tax Credits and Address Confusion Over Section 174 Rules Thought Leadership by KBKG, 3/23/2023 On March 17, 2023, Senators Maggie Hassan (D-NH) and Todd Young (R-IN) reintroduced the American Innovation and Jobs Act (“The Act”). This act aims to expand the refundable R&D Credit and will extend … Read More
KBKG Appoints Bradley Sander as New Chief Marketing & Sales Officer
PASADENA, Calif. – KBKG, a tax credits and incentives consulting firm, welcomes Bradley Sander as the company’s new Chief Marketing & Sales Officer. Sander comes to KBKG with an extensive background in the wireless, telecommunications, and media industries. Sander joins KBKG following stints in various C-Level executive roles for some of the world’s largest and … Read More
KBKG Receives Accreditation as AIA Continuing Education Provider for Architects
PASADENA, Calif. – KBKG, a tax credits and incentives consulting firm, has announced its certification as an American Institute of Architects (AIA) Continuing Education Provider. KBKG’s classes will be instructed by its Director, Jesse Stanley, P.E., who will lead the courses for providers looking to maximize tax savings on energy-efficient building designs. Stanley is the … Read More
IRS Issued Additional Guidance on Section 174, Specified Research or Experimental Expenditures
This article has been updated from its original posting on Dec. 15, 2022. The Treasury Department and Internal Revenue Service (IRS) issued Revenue Procedure 2023-11 providing updated guidelines for accounting method changes for the treatment of specified research or experimental expenditures under Section 174 that changed with the Tax Cuts and Jobs Act of 2017 … Read More
KBKG Tax Insight: Tax Court Denies Construction Company R&D Credits
A summary judgment was recently granted when the government successfully argued that a construction company did not conduct qualified research activities during the tax year in question and was therefore not entitled to the $576,756 refund they were paid. In this case, the defendant was a shareholder of a civil construction company and the contested … Read More
An Introduction to the Reverse Plea to the U.S. Senate and House of Representatives to Extend Section 174
Over 150 U.S.-based businesses and trade associations recently issued a plea to the U.S. Senate and U.S. House of Representatives leadership urging Congress to extend Section 174 provisions allowing taxpayers to deduct 100% of Section 174 R&E expenditure in the year they were incurred. Historically, 100% of Section 174 R&E expenditures could be 1) deducted … Read More