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
![[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation](https://www.kbkg.com/wp-content/uploads/Press-Release-–-KBKG-Welcomes-Two-New-Directors-to-Atlanta-Based-Operation.jpg "[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation")
Atlanta, Georgia – Nationwide tax specialty firm KBKG hired two new Directors, Amar Patel and Ian Williams, as part of their Southeast practice. Both Directors join KBKG with over 25 years of combined experience in Cost Segregation and Research & Development Tax Credits, two key services offered by the firm to CPAs and businesses. As … Read More
As featured in Accounting Today When Joe Biden was inaugurated last month, he assumed all the responsibilities of the American presidency, including tax policy decisions. With the advantage of a Democratic majority in both houses of Congress, his administration will probably pursue tax policy options to raise revenues to offset the deficit attributable to the … Read More
As featured in PICPA As the world raced to create treatments for the worldwide coronavirus pandemic, a spotlight was on the domestic life sciences and pharmaceutical industry like never before. Companies across the industry leveraged artificial intelligence, data analytics, and novel applications of historical medicines, among other ideas to combat the virus. The demand for … Read More
Are you a business owner that is unhappy with your recent tax bill? If you have not explored it yet, the Research and Development (R&D) tax credit can provide significant benefits to your business’ bottom line. Chances are you could be missing out on a dollar-for-dollar reduction in your federal and state income tax liability. … Read More
Let’s assume a scenario where you filed for the credit for increasing research (“R&D credit”) and the Internal Revenue Service (“IRS”) selected your return for examination/audit. At the conclusion of the audit, the IRS has two basic options: a “no change” or a “disallowance.” As much as everyone would like to receive a “no change,” … Read More
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