Section 174 and R&E – Uncertainty and Questions

05/23/2023

Section 174 and R&E – Uncertainty and Questions Thought Leadership by KBKG, 5/23/2023 Many businesses, small and large, rely on research and development to improve their offerings, compete with international markets, and increase profits. The implications of recent changes to section 174 and no movement from Congress have left many business owners unsure of how … Read More

IRC/Multistate Corporate Income Tax Comparison Guide

05/05/2023

IRC/Multistate Corporate Income Tax Comparison Guide Friday, May 5, 2023 – Thought Leadership by R&D | KBKG Note: The data in the chart is only current as of the publish date of this blog. We expect this data to change. Research and experimental expenditures are essential to many businesses, especially in technology, manufacturing, and healthcare. … Read More

Accounting Today: Risks Associated With the ERC

04/18/2023

Accounting Today: Risks Associated With the ERC As published in Accounting Today | by Jason C. Melillo, 4/18/2023   This excerpt is from “Risks Associated With the ERC.”  Read the full article now in Accounting Today. […] We have seen many questionable claims by ERC mills, one for example saying, “All businesses impacted by supply … Read More

IRS Issues Revenue Ruling on the Deductibility of R&E Expenditures

04/18/2023

IRS issues Revenue Ruling on the Deductibility of Research and Experimental Expenditures by Jonathan Tucker, Principal | KBKG, 4/18/2023 Revenue Ruling 58-74 No Longer Applicable – The IRS issued Revenue Ruling 2023-8, making obsolete Revenue Ruling 58-74 on a prospective basis as of July 31, 2023. This means that taxpayers can no longer file an amended … Read More

Mississippi Allows Businesses to Deduct Research or Experimental Expenditures

04/04/2023

By Jon Tucker, Principal | Published Monday, April 3rd, 2023 On Monday, April 3, 2023, Mississippi passed H.B. 1733, a change in the Mississippi State Income Tax Law. The law allows businesses to elect to fully deduct research or experimental expenditures in the year they are incurred. It suggests changing the methods of depreciation used … Read More

KBKG Tax Insight: Tax Court Denies Construction Company R&D Credits

12/13/2022

A summary judgment was recently granted when the government successfully argued that a construction company did not conduct qualified research activities during the tax year in question and was therefore not entitled to the $576,756 refund they were paid. In this case, the defendant was a shareholder of a civil construction company and the contested … Read More

KBKG to Exhibit and Sponsor Tal Glenn Memorial Golf Tournament

10/13/2022

Attending the 2022 Tal Glenn Memorial Golf Tournament is our Principal, Eddie Price, and our Regional Director, Matthew Geltz, who will represent KBKG at the event, which takes place on October 24th in Tyler, Texas at The Cascades Golf & Country Club. About the Event The Tal Glenn Memorial Golf Tournament is an annual golf … Read More