Common Misconceptions About R&D Tax Credits: Debunking Myths and Clearing Up Confusion

02/26/2024
Common Misconceptions About R&D Tax Credits: Debunking Myths and Clearing Up Confusion

Common Misconceptions About R&D Tax Credits: Debunking Myths and Clearing Up Confusion The R&D credit refers to tax-saving opportunities for companies that invest in research and development. The R&D tax credit incentivizes businesses of all sizes to develop or improve products and processes within their industry. Unfortunately, many misconceptions may unnecessarily stop a company from claiming the … Read More

Tax Credits for Developing Battery Tech and Chemicals for Electric Vehicles

01/31/2024
Tax Credits for Developing Battery Tech and Chemicals for Electric Vehicles

Using the R&D Tax Credit to Join the EV Market The production and sale of electric vehicles (EVs) are on the rise, with more consumers switching to this eco-friendly option each year. The EV market has witnessed substantial growth, driven by factors such as increasing environmental awareness, government incentives, advancements in battery technology, and improvements … Read More

How the PATH Act Helps Small Businesses

01/31/2024
How the PATH Act Helps Small Businesses

Understanding R&D Tax Credits for Forest Products | KBKG Companies in the forest products industry increasingly rely on research and development initiatives to optimize manufacturing, increase revenue, and create a competitive edge. Even small and medium-sized forestry businesses may qualify for valuable tax incentives related to R&D. Unfortunately, the U.S. Chamber of Commerce estimates that … Read More

Understanding R&D Tax Credits for Forest Products

01/31/2024
Understanding R&D Tax Credits for Forest Products

Understanding R&D Tax Credits for Forest Products | KBKG Companies in the forest products industry increasingly rely on research and development initiatives to optimize manufacturing, increase revenue, and create a competitive edge. Even small and medium-sized forestry businesses may qualify for valuable tax incentives related to R&D. Unfortunately, the U.S. Chamber of Commerce estimates that … Read More

KBKG Tax Alert: Proposed Bill Fixes 174 Capitalization and Cuts Off New ERC Claims

01/16/2024
KBKG Tax Alert: Proposed Bill Fixes 174 Capitalization and Cuts Off New ERC Claims

KBKG Tax Alert: House passes proposed bill to Fix 174 Capitalization, Extend 100% bonus depreciation, and Cut Off New ERC Claims, now in Senate consideration. Proposal Aims to Boost Businesses with Immediate Deductions for Domestic Research and Experimental (R&E) Expenditures and Capital Investments on qualified property while reining in the Employee Retention Credit (ERC). The … Read More

New IRS Amendments to the Amortization of Specified Research or Experimental Expenditures

01/03/2024
New IRS Amendments to the Amortization of Specified Research or Experimental Expenditures

New IRS Amendments to the Amortization of Specified Research or Experimental Expenditures Thought Leadership by KBKG The Internal Revenue Service (IRS) issued updates regarding the amortization of specified research or experimental (SRE) expenditures under Section 174. These modifications, outlined in Notice 2024-12 and complemented by Rev. Proc. 2024-9, introduce crucial changes that tax professionals should … Read More

Understanding the IRS’ ERC Voluntary Disclosure Program

01/03/2024
Understanding the IRS’ ERC Voluntary Disclosure Program

Understanding the IRS’ ERC Voluntary Disclosure Program Thought Leadership by KBKG The IRS’ introduction of the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) is a significant development that offers businesses, tax-exempt organizations, and government entities a chance to rectify any ineligible claims for the Employee Retention Credit (ERC). We summarize the key points from the IRS announcement … Read More

Year-End Legislation Aimed at Changing the TCJA

12/20/2023
Year-End Legislation Aimed at Changing the TCJA

Year-End Legislation Aimed at Changing the TCJA Kevin Zolriasatain, Principal • Research & Development Tax Credit Services A sizable coalition of House Republicans has advocated for end-of-year legislation addressing three key business tax provisions altered by the 2017 tax reform bill. They characterize this proposal as a pro-growth economic package. In a letter dated November … Read More

KBKG Tax Insight – Does Coke Owe the IRS $10+ Billion for Transfer Pricing?

12/09/2023
KBKG Tax Insight – Does Coke Owe the IRS $10+ Billion for Transfer Pricing?

What Happens if Coke Continues to Lose in Tax Court? Coca-cola recently lost an appeal of a transfer pricing court case, which concluded that Coke owes an additional $3.1 billion in tax for 2007 through 2009.¹ In addition to denying the Motion for Reconsideration on procedural grounds, Tax Court Judge Albert Lauber decided to elaborate … Read More