KBKG has expanded its leading-edge continuing education offerings to include CLE credits for attorneys. We have partnered with the National Academy of Continuing Legal Education, a leading provider of accredited continuing legal education courses throughout the United States. Attorneys have 24/7 access to course offerings online or on DVDs. Our first CLE course is “Transfer … Read More
Acquiring or constructing a gas station with a convenience store (“C-store”) can be a lucrative addition to a real estate portfolio. Current rules allow investors to immediately write off all the improvements if certain requirements are met, and the property is placed in service after September 27, 2017. This went into effect after the Tax … Read More
For taxpayers operating in the state of Iowa, there is an outstanding opportunity to take advantage of a refundable tax credit for activities meeting the requirements of IRC §41 (To be eligible for R&D Tax Credits, research activities must meet the criteria in the IRS Four-Part Test). The tax credits are available for expenditures related … Read More
Readers of a certain age may remember CliffsNotes, a lifeline for students who may not have read every book for English class. CliffsNotes were marketed as a study aid for students struggling with Macbeth, War & Peace, or a Tale of Two Cities. Occasionally, students would rely on the yellow-and-black books as salvation while studying … Read More
![There’s Still Time to Claim the R&D Tax Credit on Extension [Infographic]](https://www.kbkg.com/wp-content/uploads/Theres-Still-Time-to-Claim-the-RD-Tax-Credit-on-Extension.jpg "There’s Still Time to Claim the R&D Tax Credit on Extension [Infographic]")
Are you or your clients interested in claiming the R&D Tax Credit? Good news. There is still time to perform a study for inclusion on your extended returns, but you must act fast. Time is running out. What is the R&D Tax Credit? The Research and Development Tax Credit can be applied to qualified research … Read More
The IRS on June 17, 2021 issued Revenue Procedure 2021-28, which provides procedures for taxpayers to change to the alternative depreciation system (“ADS”) for certain residential rental property placed in service prior to January 1, 2018, held by an electing Real Property Trade or Business (RPTOB). KBKG Insight: A RPTOB that made the election under … Read More
Governor Kim Reynolds recently signed into law Senate File 619 relating to a multitude of state and local tax issues. Included within this law is the retroactive applicability of Federal Bonus Depreciation rules for qualified assets placed into service on or after January 1, 2021. Additionally, the State of Iowa will remain decoupled from the … Read More
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