New York City, New York – KBKG, a nationwide tax specialty firm, hired a new Regional Director as part of their Northeast practice. David Zarin has over 25 years of experience working in business development and client relationship management roles in the professional services industry, specifically for large and midsize public accounting and management consulting … 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
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
As featured in Accounting Today The Employee Retention Tax Credit has been a welcome lifeline to many struggling businesses and those most significantly impacted by the economic uncertainty around the COVID-19 pandemic. The ERTC, similar to the PPP loan, has helped support small businesses through a refundable credit associated with employee retention. The original ERTC … Read More
Overview Treasury and the IRS are contemplating additional procedural guidance that will assist taxpayers with compliance related to the ADS recovery period change for residential rental property. This is required under the Tax Cuts and Jobs Act (TCJA) when Real Property Trades or Businesses (RPTOBs) make the election under 163(j) to avoid interest expect limitations. … Read More
The Qualified Improvements Quick Reference Chart is KBKG’s most sought-after resource by CPAs across the nation. We have updated the chart to reflect recent changes. Qualified Improvement Property (QIP) is defined as any improvement made by the taxpayer to an interior portion of a building that is nonresidential real property as long as the improvement … 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