The ERTC was originally established under the CARES Act t encourage businesses to keep employees on payroll during the pandemic. Employers can now retroactively apply for credits in 2020, even if they have received a PPP loan from the Small Business Administration. Employers can receive a CREDIT ADVANCE from the US Treasury. ERTC was extended … Read More
Author: Mayra Silva
KBKG Welcomes New Director to Their Texas Office
DFW, Texas – KBKG, a nationwide tax specialty firm, hired new R&D Tax Credit Director, Bill Taylor, to join its Texas office. Bill has over 10 years of experience providing federal tax consulting services to companies in various industries, including technology, aerospace and defense, manufacturing, and other professional services. Bill began his career with a … Read More
KBKG Tax Insight: New Illinois Bill Makes R&D Tax Credit More Valuable
Companies performing qualified research and development activities in Illinois are one step closer to a much-improved state R&D credit. Historically, companies in Illinois must have experienced an increase in qualified research expenditures (QRE) over the previous three years to receive the state tax credit. Illinois State Representative Tony McCombie has introduced a bill for an … Read More
KBKG Tax Insight: Transfer Pricing Changes Drive Tax Savings for Coronavirus Impacted Companies
As featured in Accounting Today Intercompany pricing corrections now can help generate cash by utilizing tax net operating losses. In a pandemic environment, longstanding transfer pricing policies can lead to suboptimal tax results. Multinationals that incur losses in some locations while earning generous profits in others could be overpaying taxes. For many companies, modifications to … Read More
KBKG Welcomes Matthew Geltz to Our Texas Office
KBKG is pleased to announce the addition of Business Development Regional Director, Matthew Geltz to our Texas office. In this role, he will create customized solutions to meet our Texas clients’ needs and develop new business opportunities. Matthew brings over 17 years of experience focused on sales and client relationships. He has worked in the financial … Read More
KBKG Midwest Team on Pink Ribbon Day
KBKG launched the annual firmwide breast cancer campaign with “Pink Ribbon Day.” Colleagues were asked to wear something pink. Participation was spirited and our Midwest team gathered to rally behind the campaign. We’re collecting donations for two fundraising initiatives: Susan G. Komen American Cancer Society Making Strides Against Breast Cancer Pictured from left to … Read More
KBKG Tax Insight: Proposed 1031 Regulations Negative Impact on Cost Segregation – KBKG’s Comments to the IRS
On June 12, the IRS issued proposed regulations that define what real property is for purposes of 1031 exchanges. This was in response to changes in the Tax Cuts and Jobs Act (TCJA) that no longer allows personal property from being eligible for 1031 exchange. In their current form, the proposed regulations may create significant … Read More
Comments for Proposed Regulations 1.1031(a)-3 (REG-117589-18)
This letter was originally published by the ASCSP. Our Principals Lester Cook,CCSP and Malik Javed,CCSP are board members of the ASCSP. The American Society of Cost Segregation Professionals (ASCSP) wishes to commend the Treasury Department (Treasury) and the Internal Revenue Service (IRS) for the thoughtful effort clearly reflected in Proposed Regulations 1.1031(a)-3 (REG-117589-18) defining real … Read More
Important Notice – Please Update Your Records
Please note that we recently relocated several of our offices in California, including our headquarters in Pasadena. Please update your records with the new address and remit any outstanding payments to our new headquarters. Should you have questions, please reach out to your relationship manager for assistance. PASADENA HEADQUARTERS 225 South Lake Ave Ste 400 … Read More
Top 8 Benefits of the R&D Tax Credit
The research and development tax credit is one of the most valuable credits leveraged by innovators and entrepreneurs since its inception in 1981. While the credit has been around for almost 40 years, renewed focus on research and development has created opportunities for even more businesses to take advantage. Curious to know more? Here are … Read More