IRS Issues New Guidance for 45L Tax Credit Meeting energy-efficiency requirements can make projects eligible for the maximum amount of $5,000 per unit The Internal Revenue Service (IRS) recently issued new guidance with Notice 2023-65, surrounding the 45L Tax Credit that impacts how single-family, multifamily, and manufactured homes qualify for this Green Building Tax Incentive. … Read More
Kansas Issues New Notice to the Research and Development Tax Credits Thought Leadership by Jonathan Tucker, Principal – Research and Development Tax Credit Services As certified public accountants, staying abreast of changes in tax laws and regulations is crucial to best serve your clients. In this blog, we’ll dive into the recent amendments by House Bill … Read More
KBKG Tax Insight: Qualified Improvements, Bonus Depreciation, and 179 By John Manolos | Senior Manager – Cost Segregation With the passage of the CARES Act on March 27, 2020, Congress addressed the much anticipated “Retail Glitch” associated with the 2017 Tax Cuts and Jobs Act (TCJA). This rule previously prevented investments in qualified improvement property … Read More
Cost Segregation: How It Can Benefit Your Business Tax planning is a vital part of any company’s financial strategy. At its core, it focuses on legal ways of optimizing tax breaks and reducing liabilities. Maybe you’ve heard the term “cost segregation” used by tax professionals. You may wonder, “What is a cost segregation study and … Read More
Putting Dollars Back on Campuses How colleges and universities benefit from the 179D Tax Deduction Colleges and universities have historically resorted to private donors and alumni to help with the financing of campus improvements. While these methods have proven to be effective, many administrators and facilities directors are unaware of how certain tax incentives established … Read More
IRS Pauses New Claims for Employee Retention Credit Program Thought Leadership from KBKG, Sep 15, 2023 In response to mounting concerns about the integrity of the Employee Retention Credit (ERC) program, the Internal Revenue Service (IRS) has taken the significant step of suspending the acceptance of new ERC claims until at least December 31, 2023. … Read More
KBKG Tax Insight: IRS Releases Guidance on Section 174 R&E Expenses Monday, September 11, 2023 By Kevin Zolriasatain | Principal, Research & Development Tax Credits On Sept. 8, 2023, the Internal Revenue Service (IRS) unveiled Notice 2023-63. This significant and eagerly awaited update to tax regulations under Section 174 marks a pivotal moment in the realm … Read More
KBKG Named One of the World’s Leading Transfer Pricing Practices for Third Consecutive Year PASADENA, Calif. – 08/30/2023 – KBKG, a leading provider of turnkey tax services and solutions, has been named one of the world’s top transfer pricing firms for 2023-24 by the International Tax Review. This honor marks the third year in a … Read More
Wisconsin Department Revenue Updates Publication 131 – R&D Tax Credits Thought Leadership by Jonathan Tucker, Principal – Research and Development Tax Credit Services | KBKG Understanding tax incentives and research credits can often be as intricate as deciphering a complex puzzle. Fortunately, the Wisconsin Department of Revenue has developed the newly updated Publication 131, a … Read More
South Carolina Court Cancels Tractor Supply Co.’s Transfer Pricing Strategy A recent ruling from a South Carolina judge in the Tractor Supply Co. v. S.C. Dep’t of Revenue case highlights the need for substance when implementing state tax savings strategies. The Court’s rejection of Tractor Supply Company’s (TSC) transfer pricing approach resulted in an additional … Read More