The Protecting Americans from Tax Hikes (PATH) Act of 2015 made it possible for start-ups and small businesses to qualify for a tax credit of up to $250,000. Start-ups and small businesses that were previously unable to benefit from the research and development (R&D) tax credits due to lack of taxability should take advantage of … Read More
Architecture and engineering firms may want to take another look at the often forgotten Research & Development (R&D) Tax Credit. Many may be eligible for federal and state research credits without realizing it. Historically, the R&D Tax Credit was geared to only benefit large companies; mostly in the manufacturing, software, high-tech and pharmaceutical industries. However, … Read More
After months of uncertainty, California taxpayers can begin to proceed with some degree of clarity around the treatment of Economic Injury Disaster Loans (“EIDL”) as well as Paycheck Protection Program (“PPP”) loans received and forgiven for income tax purposes. Assembly Bill 80 (“A.B. 80” or the “bill”) allows taxpayers that meet certain criteria to exclude … Read More
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
The California Small Business COVID-19 Relief Grant Program, a $2.1 Billion state-funded package, was created to provide much needed relief to California small businesses. Part of the state and Governor Newsom’s plan includes a measure that would allow up to $150,000 in PPP expenses to be eligible for deduction on state returns. While the details … Read More
Senator Chris Coons of Delaware recently introduced legislation (S. 3593) called “Furthering Our Recovery With American Research & Development Act” (“FORWARD”), which makes changes to and expands Internal Revenue Code Section 41: Credit for Increasing Research Activities (“IRC 41”). Applying these modifications to the existing law could allow companies that invest in the research and … Read More
At the end of March, the U.S. government passed the Coronavirus Aid, Relief, and Economic Securities (“CARES”) Act to provide financial and emergency relief to American businesses, the American people, and the U.S. economy in whole. The objective of the stimulus package for businesses was to provide a lifeline of cash and liquidity that would … Read More
![[PRESS RELEASE] Former IRS Executive, Mark Bodenstab, Joins KBKG as Director of Research & Development Tax Credits](https://www.kbkg.com/wp-content/uploads/Former-IRS-Executive-Mark-Bodenstab-Joins-KBKG-as-Director-of-Research-Development-Tax-Credits.jpg "[PRESS RELEASE] Former IRS Executive, Mark Bodenstab, Joins KBKG as Director of Research & Development Tax Credits")
Pasadena, California – July 30,2019 – Nationwide tax specialty firm KBKG adds another former IRS manager to their team of experts. Mark Bodenstab joins as the firm’s Director of Research & Development Tax Credits with over 30 years combined at the IRS and in the private sector. Mark joined the IRS as a general engineer … Read More
Our Principals, Greg Kniss, Jason Melillo, Kevin Zolriasatain, Operations Manager Michelle Mackerdichian, and Regional Director Michelle Vitale, will be exhibiting at the AICPA ENGAGE Conference, from June 9th through 13th 2019. Come by booth #310. AICPA ENGAGE cover various topics including tax, accounting, wealth management, business management, and more. Post Update 06/11/2019: Michelle Mackerdichian and … Read More
Businesses who are creating a brand-new product may be aware that the expenses associated with the cost of developing the prototype, or first article, of that product can qualify for the Research & Development (R&D) tax credit1. Qualifying expenses can include employee wages, materials used in the construction of the prototype and any third-party contractors … Read More