Inflation Reduction Act Expands Payroll Tax Credit Benefits for Small Businesses 08/12/2022 Read More KBKG Tax Insight: Changes to Recently Amended Texas Franchise Tax Regulations 06/27/2022 Read More KBKG Tax Insight: Reviving Missouri’s R&D Tax Credit 06/20/2022 Read More KBKG, R&D Tax Credits & 179D Incentives Firm, to Exhibit at the American Institute of Architects A'22 National Conference This Week 06/20/2022 Read More Are You Looking To Upgrade Your R&D Credit or 179D Provider? 06/15/2022 Read More KBKG to Exhibit, Sponsor, and Speak at the TXCPA Free CPE Expo 06/14/2022 Read More KBKG to Exhibit and Sponsor at PrimeGlobal Partner Leadership Summit 06/14/2022 Read More KBKG to Exhibit and Sponsor at AIA Architecture Conference 06/14/2022 Read More KBKG to Speak and Exhibit at Tax Alliance Conference 06/03/2022 Read More KBKG to Exhibit at AICPA Engage 2022 Conference 06/03/2022 Read More KBKG to Speak and Exhibit at FICPA MEGA CPE Conference 06/03/2022 Read More KBKG to Speak at NECANN Illinois Conference 06/03/2022 Read More KBKG to Exhibit and Sponsor the NJCPA Convention & Expo 06/03/2022 Read More KBKG Tax Insight: Wisconsin's Refundable R&D Tax Credit Gets a Boost 05/27/2022 Read More Breaking News: Senate Moves to Preserve R&D Expensing & Expand Research Credit 05/10/2022 Read More KBKG to Speak at SCACPA Spring Splash Conference 2022 05/02/2022 Read More KBKG Speaking at New York Multifamily Summit 2022 05/02/2022 Read More This Month's Webinars 05/02/2022 Read More [PRESS RELEASE] KBKG Expands Atlanta Footprint with Office in Buckhead 04/22/2022 Read More KBKG Tax Insight: Changes in Kansas Research and Development Tax Credit Incentive 04/22/2022 Read More KBKG Representing at TXCPA Austin Accounting & Finance Leaders Conference 2022 04/07/2022 Read More KBKG Tax Insight: Minnesota Introduces an Alternative Simplified R&D Tax Credit 02/22/2022 Read More Hawaii Senator Jarrett Keohokalole Seeks to Increase Annual Cap for State's Research Credit 02/08/2022 Read More KBKG Tax Insight Nebraska Legislators Consider Research or Experimental Expenditures Fully Deductible 01/29/2022 Read More KBKG Tax Insight: Illinois Lawmakers Seek to Significantly Improve the State Research & Development Tax Credit 01/24/2022 Read More KBKG Speaking at Ohio Chamber of Commerce - 2022 Business Tax Conference 01/24/2022 Read More KBKG Tax Insight: ABA Urges IRS for Proposed Regulations for R&D 01/19/2022 Read More [Updated] KBKG Tax Insight: R&D Tax Credits - Protective 280C(c)(3) Elections 01/07/2022 Read More KBKG Tax Insight: Research & Development Tax Credits for Michigan Taxpayers Under House Bill 5601 12/13/2021 Read More Feature: What Is the Research and Development (R&D) Credit and How Do I Qualify? 11/10/2021 Read More
KBKG Tax Insight: Changes to Recently Amended Texas Franchise Tax Regulations

KBKG Tax Insight: Changes to Recently Amended Texas Franchise Tax Regulations

06/27/2022

Published on June 10, 2022, Texas Register, the Texas Comptroller proposed revisions to the recently amended Texas franchise tax regulations surrounding the Texas sales and use tax exemption and the Texas franchise R&D tax credit. These revisions soften the Internal Use Software (IUS) and Combined Group definitions after receiving overwhelming feedback surrounding the Texas franchise … Read More

KBKG Tax Insight: Reviving Missouri’s R&D Tax Credit

KBKG Tax Insight: Reviving Missouri’s R&D Tax Credit

06/20/2022

It has been nearly 18 years since Missouri taxpayers have seen a state credit related to its qualified research expenditures (QREs). This may change beginning in 2023! In an effort to further stimulate Missouri’s economy, State Senator Brian Williams offered an amendment to HB 2400 sponsored by State Representative Dan Houx. This amendment attempts to … Read More

KBKG, R&D Tax Credits & 179D Incentives Firm, to Exhibit at the American Institute of Architects A’22 National Conference This Week

KBKG, R&D Tax Credits & 179D Incentives Firm, to Exhibit at the American Institute of Architects A’22 National Conference This Week

06/20/2022

KBKG plans an educational and interactive booth experience for architect attendees at AIA’s largest annual event. CHICAGO, June 20, 2022 (Newswire.com) – Nationwide tax specialty firm KBKG is set to exhibit at the American Institute of Architect’s (AIA) A’22 Conference on Architecture in Chicago from June 22-25. At the exhibit, KBKG will showcase their architect … Read More

Are You Looking To Upgrade Your R&D Credit or 179D Provider?

Are You Looking To Upgrade Your R&D Credit or 179D Provider?

06/14/2022

As you begin to evaluate potential service providers, it’s important to remember that there are significant differences between R&D credit and 179D advisors in the marketplace. Sometimes taxpayers are not immediately aware of how those differences may impact their experience from start to finish. Working with a qualified firm with a team of experienced specialists … Read More

KBKG to Exhibit, Sponsor, and Speak at the TXCPA Free CPE Expo

KBKG to Exhibit, Sponsor, and Speak at the TXCPA Free CPE Expo

06/14/2022

Our Director of R&D Tax Credits and ERTC, Bill Taylor is speaking at the TXCPA Free Expo on June 23rd. Along with him, our Regional Director, Matthew Geltz, is representing KBKG at the exhibit hall. The TXCPA Free CPE Expo is taking place on June 23rd at the UT Commons Conference Center in Texas. About … Read More

KBKG to Exhibit and Sponsor at PrimeGlobal Partner Leadership Summit

KBKG to Exhibit and Sponsor at PrimeGlobal Partner Leadership Summit

06/14/2022

Our CEO, Gian Pazzia is attending the PrimeGlobal Partner Leadership Summit as a delegate. Along with him, our National Director of Business Development, Gina Lim, is sponsoring the event on behalf of KBKG. The conference is taking place from June 20th to June 22nd at the Fairmont Royal York in Toronto, Canada. About PrimeGlobal Partner … Read More

KBKG to Exhibit and Sponsor at AIA Architecture Conference

KBKG to Exhibit and Sponsor at AIA Architecture Conference

06/14/2022

This year Todd French, Lon O’Connor, Robert VanDeVeire, Brandon Val Verde, and Kyle Ernsberger will be representing KBKG at the AIA Architecture Conference. The conference takes place from June 22nd to June 25th in Chicago, Illinois. About the AIA Architecture Conference The AIA Architecture Conference is the architecture and design event of the year. With … Read More

KBKG to Speak and Exhibit at Tax Alliance Conference

KBKG to Speak and Exhibit at Tax Alliance Conference

06/03/2022

Our Regional Director, Bill Taylor is speaking about Employee Retention Tax Credits & Impact on Research and Development Tax Credits, CCM, and TX Law Changes at the Tax Alliance Conference on June 7th. Joining him is our Regional Director, Matthew Geltz, and he is representing KBKG at the exhibition hall. The Tax Alliance Conference is … Read More

KBKG to Exhibit at AICPA Engage 2022 Conference

KBKG to Exhibit at AICPA Engage 2022 Conference

06/03/2022

We are exhibiting at this year’s AICPA Engage Conference that is taking place at the ARIA Resort & Casino in Las Vegas from Monday, June 6th to Thursday, June 9th. Representing KBKG are Greg Kniss, Jason Melillo, Lester Cook, Lon O’Connor, Robert VanDeVeire, and Will Long. We will be located at booth #307, please feel … Read More

KBKG to Speak and Exhibit at FICPA MEGA CPE Conference

KBKG to Speak and Exhibit at FICPA MEGA CPE Conference

06/03/2022

Research & Development Tax Credit Principal, Jonathan Tucker and Director, Ian Williams will be speaking on Research and Development Tax Credits Overview and Recent Updates. Their presentation is taking place on Thursday, June 9th from 10:30 AM – 11:20 AM. Regional Director, Chad Niehaus is speaking in a 25-minute Ted-Talk, a new way of presenting … Read More

KBKG to Speak at NECANN Illinois Conference

KBKG to Speak at NECANN Illinois Conference

06/03/2022

On Friday, June 10th from 1-1:50 PM, our Senior Manager, Tetyana Guguchkina, is speaking about R&D Tax Credit for the Cannabis industry at this year’s NECANN Illinois. Joining her are Robert VanDeVeire and Kyle Ernsberger from our Midwest office. NECANN Illinois is taking place from June 10th to June 11th at the McCormick Place Lakeside … Read More

KBKG to Exhibit and Sponsor the NJCPA Convention & Expo

KBKG to Exhibit and Sponsor the NJCPA Convention & Expo

06/03/2022

This year, Sumit Sharma, Paul McVoy, Alexis McClellan, and Justin Brumfield will be representing KBKG at the NJCPA Convention & Expo. This conference takes place from June 14th to June 17th at NJCPA Convention & Expo in Atlantic City. About the NJCPA Convention & Expo The NJCPA Convention & Expo knows that there are mega-changes … Read More

KBKG Tax Insight: Wisconsin’s Refundable R&D Tax Credit Gets a Boost

KBKG Tax Insight: Wisconsin’s Refundable R&D Tax Credit Gets a Boost

05/27/2022

Wisconsin’s Department of Revenue recently updated its Publication 131, entitled Tax Incentives for Conducting Qualified Research in Wisconsin for Taxable Years Beginning on or After January 1, 2021. It explains qualified research, eligibility and the mechanics for calculating and substantiating the credit. The most notable change to the Wisconsin credit is increasing the percentage of … Read More

Breaking News: Senate Moves to Preserve R&D Expensing & Expand Research Credit

Breaking News: Senate Moves to Preserve R&D Expensing & Expand Research Credit

05/09/2022

A motion to instruct conferees of the America COMPETES/USICA competitiveness bills by Senator Maggie Hassan (D-NH) was agreed to 90-5 on Wednesday, May 4, 2022. The bill called for preserving R&D expensing, rather than the IRC Section 174 five-year amortization that took effect this year, and an expansion of the R&D tax credit for small … Read More

KBKG to Speak at SCACPA Spring Splash Conference 2022

KBKG to Speak at SCACPA Spring Splash Conference 2022

05/02/2022

Our Research and Development Tax Credit Director, Ian Williams, is speaking while Principal, Jonathan Tucker, and Regional Director Chad Niehaus are representing KBKG at the SCACPA Spring Splash Conference 2022. This event takes place from May 12th and May 13th in Spartanburg, SC. Our Southeast team specializes in Cost Segregation, Green Building Tax Incentives (45L … Read More

KBKG Speaking at New York Multifamily Summit 2022

KBKG Speaking at New York Multifamily Summit 2022

05/02/2022

>Our Cost Segregation & Fixed Assets Principal, Sumit Sharma, will be speaking at NYMS this year during the Value Add panel discussion. Along with him, Alexis McClellan and Justin Brumfield will represent KBKG. The New York Multifamily Summit will take place on Thursday, May 12th in New York, New York. This event is New York’s … Read More

This Month’s Webinars

This Month’s Webinars

05/02/2022

Looking for CPE credit? We have several sessions available this month. Click the links below to register. If you have questions or need help registering, please email [email protected] Research & Development Tax Credits 06/07/2022 | 12:00 PM PT | 1 hour | 1 CPE credit This webinar will cover the fundamentals of the Research and … Read More

[PRESS RELEASE] KBKG Expands Atlanta Footprint with Office in Buckhead

[PRESS RELEASE] KBKG Expands Atlanta Footprint with Office in Buckhead

04/22/2022

After five years in the north Atlanta metro region, the firm has moved operations inside the city’s perimeter to better serve surrounding businesses. Nationwide tax specialty firm KBKG has recently moved its existing Atlanta metro operations from the original Alpharetta location to the heart of Atlanta’s Buckhead business district. The firm’s southeast team has upgraded … Read More

KBKG Tax Insight: Changes in Kansas Research and Development Tax Credit Incentive

KBKG Tax Insight: Changes in Kansas Research and Development Tax Credit Incentive

04/22/2022

Earlier this month, the Kansas University Jayhawks men’s basketball team captured the school’s 6th National NCAA Championship with a 72-69 victory over the North Carolina Tarheels. In one of the most competitive college basketball years to date, Kansas was crowned number 1. Much like college basketball, states compete to attract businesses and innovation to spur … Read More

KBKG Representing at TXCPA Austin Accounting & Finance Leaders Conference 2022

KBKG Representing at TXCPA Austin Accounting & Finance Leaders Conference 2022

04/07/2022

Eddie Price, Matthew Geltz, and Bill Taylor will be representing KBKG at the TXCPA Austin Accounting & Finance Leaders Conference on Thursday, April 21st in Austin, Texas. Our Texas team specializes in Cost Segregation, Green Building Tax Incentives (45L and 179D), Transfer Pricing, and more.. About the TXCPA Austin Accounting & Finance Leaders Conference The … Read More

KBKG Tax Insight: Minnesota Introduces an Alternative Simplified R&D Tax Credit

KBKG Tax Insight: Minnesota Introduces an Alternative Simplified R&D Tax Credit

02/22/2022

In an effort to further stimulate the Minnesota economy, state Senator Julia Coleman and House Representative Kristin Robbins introduced S.F. 2970 and H.F. 3316, respectively. Both bills would add a new methodology for taxpayers to utilize in calculating its Minnesota R&D Tax Credit. It is modeled after the federal Alternative Simplified R&D Credit (ASC) methodology. … Read More

Hawaii Senator Jarrett Keohokalole Seeks to Increase Annual Cap for State’s Research Credit

Hawaii Senator Jarrett Keohokalole Seeks to Increase Annual Cap for State’s Research Credit

02/08/2022

On January 21, 2022, Hawaii State Senator Jarrett Keohokalole introduced Senate Bill (SB) 2599, revising the certification requirements and increasing the annual aggregate cap for the State of Hawaii’s tax credit for research activities (“Hawaii R&D tax credit”). The proposed Section 235-110.91 revisions would first and foremost triple the aggregate cap of research credits available … Read More

KBKG Speaking at Ohio Chamber of Commerce – 2022 Business Tax Conference

KBKG Speaking at Ohio Chamber of Commerce – 2022 Business Tax Conference

01/24/2022

KBKG spoke at the Ohio Chamber of Commerce 2022 Business Tax Conference on Tuesday, January 25th and Wednesday, January 26th. Lester Cook presented on Cost Segregation, Paul McVoy spoke on R&D Tax Credits, and Todd French represented the firm at the exhibit booth. See below for session details. Tuesday, January 25th | 1:45PM EST Cost … Read More

KBKG Tax Insight: ABA Urges IRS for Proposed Regulations for R&D

KBKG Tax Insight: ABA Urges IRS for Proposed Regulations for R&D

01/19/2022

The American Bar Association (ABA) is calling on the Internal Revenue Service (IRS) to issue regulations regarding new tax filing procedures required by taxpayers to comply with a Chief Counsel Memorandum issued by the IRS on October 15, 2021. Effective January 10, 2022, these new procedures significantly expand the documentation required to accompany the filing … Read More

[Updated] KBKG Tax Insight: R&D Tax Credits – Protective 280C(c)(3) Elections

[Updated] KBKG Tax Insight: R&D Tax Credits – Protective 280C(c)(3) Elections

01/07/2022

Updated January 7, 2022 The Section 41 Research Credit was enacted in 1981 as a temporary code section and made permanent with the passage of the Protecting Americans from Tax Hikes (“PATH”) Act of 2015. The research credit is an incentive providing taxpayers across all industries, performing qualified activities, the opportunity to reduce their tax … Read More

Feature: What Is the Research and Development (R&D) Credit and How Do I Qualify?

Feature: What Is the Research and Development (R&D) Credit and How Do I Qualify?

11/10/2021

As featured in the Small Business Tax Savings Podcast Mike Jesowshek, CPA, Founder of JETRO & Associates, interviewed our Research and Development Tax Credits Principal, Jonathan Tucker. Topics discussed include the fundamentals of the Research and Development (R&D) Tax Credit, R&D tax credit benefits the four-part test, qualifying activities, qualifying expenditures, and more. Each year … Read More

[Video] What is the Four-Part Test?

[Video] What is the Four-Part Test?

10/20/2021

Many companies are hesitant to take advantage of the Research & Development (R&D) Tax Credit for fear of a possible IRS audit. In our video series, former IRS engineering officials discuss how many companies can avoid IRS scrutiny by properly describing their research activities. KBKG’s IRS Audit Defense videos give a better understanding of how … Read More

[Video] Types of Sampling Methodologies

[Video] Types of Sampling Methodologies

10/11/2021

Many companies are hesitant to take advantage of the Research & Development (R&D) Tax Credit for fear of a possible IRS audit. In our video series, former IRS engineering officials discuss how many companies can avoid IRS scrutiny by properly describing their research activities. KBKG’s IRS Audit Defense videos give a better understanding of how … Read More

[Video] How Can People Work with the IRS More Effectively?

[Video] How Can People Work with the IRS More Effectively?

10/05/2021

Many companies are hesitant to take advantage of the Research & Development (R&D) Tax Credit for fear of a possible IRS audit. In our video series, former IRS engineering officials discuss how many companies can avoid IRS scrutiny by properly describing their research activities. KBKG’s IRS Audit Defense videos give a better understanding of how … Read More

[Video] A Good Research Study Can Make Life Easier with Jack Jolly

[Video] A Good Research Study Can Make Life Easier with Jack Jolly

09/22/2021

Many companies are hesitant to take advantage of the Research & Development (R&D) Tax Credit for fear of a possible IRS audit. In our video series, former IRS engineering officials discuss how many companies can avoid IRS scrutiny by properly describing their research activities. KBKG’s IRS Audit Defense videos give a better understanding of how … Read More

[Video] Types of Sampling Methodologies with Mark Bodenstab

[Video] Types of Sampling Methodologies with Mark Bodenstab

09/14/2021

Many companies are hesitant to take advantage of the Research & Development (R&D) Tax Credit for fear of a possible IRS audit. In our video series, former IRS engineering officials discuss how many companies can avoid IRS scrutiny by properly describing their research activities. KBKG’s IRS Audit Defense videos give a better understanding of how … Read More

Feature: Research and Development Tax Credits for Pennsylvania and Federal Perspectives with PICPA

Feature: Research and Development Tax Credits for Pennsylvania and Federal Perspectives with PICPA

09/01/2021

CPA Conversations · Research and Development Tax Credits: Pennsylvania and Federal Perspectives Our Research and Development Principal, Paul McVoy, was featured on PICPAs CPA Conversations podcast and interviewed by Bill Hayes, Managing Editor of the Pennsylvania CPA Journal. Paul discusses research and development tax credits in Pennsylvania and at the federal level. He explains which … Read More

Three Tax Saving Strategies for Architecture & Engineering Firms

Three Tax Saving Strategies for Architecture & Engineering Firms

08/30/2021

Architecture and engineering firms that are not claiming R&D Tax Credits, Employee Retention Tax Credits, or 179D are potentially leaving millions of dollars in tax benefits on the table each year. What are these benefits, and what cash flow is being overlooked? R&D Tax Credit Architecture and engineering firms may want to take another look … Read More

Feature: R&D for Agriculture with Harvest Harmonics

Feature: R&D for Agriculture with Harvest Harmonics

06/29/2021

Jim Kurtz, Executive Director of Harvest Harmonics, interviewed our Principal, Jon Tucker, and Director, William Long. They discussed the benefits of the R&D Tax Credit for the agriculture industry and gave farmers valuable information that they can use to make their farms and business more profitable. Learn more about R&D Tax Credits for the agriculture … Read More

KBKG Tax Insight: Monetize R&D Tax Credits: Start-ups and Small Businesses

KBKG Tax Insight: Monetize R&D Tax Credits: Start-ups and Small Businesses

06/22/2021

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

Research Tax Credit Opportunities for Architects and Engineers

Research Tax Credit Opportunities for Architects and Engineers

05/17/2021

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

KBKG Tax Insight: (AB 80) PPP Loan is Tax Deductible in CA & Impact on R&D Tax Credit

KBKG Tax Insight: (AB 80) PPP Loan is Tax Deductible in CA & Impact on R&D Tax Credit

05/10/2021

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

KBKG Welcomes New Director to Their Texas Office

KBKG Welcomes New Director to Their Texas Office

04/01/2021

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

Governor Newsom Announces $150k Expense Deduction for PPP Loans

Governor Newsom Announces $150k Expense Deduction for PPP Loans

03/02/2021

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

[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation

02/23/2021

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

KBKG Tax Insight: Biden Will Have to Deal With Tax Revenue Shortfall From COVID-19

KBKG Tax Insight: Biden Will Have to Deal With Tax Revenue Shortfall From COVID-19

02/11/2021

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

Tax Incentives in the Life Science and Pharmaceutical Industry

Tax Incentives in the Life Science and Pharmaceutical Industry

01/28/2021

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

Have a Fat Tax Bill? Have You Thought About the R&D Tax Credit?

Have a Fat Tax Bill? Have You Thought About the R&D Tax Credit?

01/11/2021

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

The Differences Between LB&I and SB/SE Research Credit Adjustments

The Differences Between LB&I and SB/SE Research Credit Adjustments

10/29/2020

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

Top 8 Benefits of the R&D Tax Credit

Top 8 Benefits of the R&D Tax Credit

08/05/2020

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

IRS Debunks Tax Refund Myths

IRS Debunks Tax Refund Myths

07/23/2020

The following article is written by the IRS. View the original source here: https://www.irs.gov/newsroom/irs-debunks-tax-refund-myths. WASHINGTON ― With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when a refund will be issued. Most taxpayers have already filed their federal tax return, … Read More

KBKG Tax Insight: Senate Finance Committee Discusses Potential for New Coronavirus Bill that Would Allow Accelerated Federal Tax Breaks

KBKG Tax Insight: Senate Finance Committee Discusses Potential for New Coronavirus Bill that Would Allow Accelerated Federal Tax Breaks

06/23/2020

As the Coronavirus pandemic continues to impact the country and economy, the Senate Finance Committee is continuing to discuss ways to help American businesses weather the storm. According to insiders, the potential proposal, which could be as large as $1 Trillion in relief funds, will include a provision that would remove limitations on businesses that … Read More

KBKG Tax Insight: New and Improved Changes to Research and Development (R&D) Tax Credit: Furthering the American Recovery from the Coronavirus

KBKG Tax Insight: New and Improved Changes to Research and Development (R&D) Tax Credit: Furthering the American Recovery from the Coronavirus

05/06/2020

Senator Chris Coons of Delaware recently introduced legislation (S. 3593) called “Furthering Our Recovery With American Research & Development Act” (“FORWARD”), which makes changes to and expands Internal Revenue Code Section 41: Credit for Increasing Research Activities (“IRC 41”). Applying these modifications to the existing law could allow companies that invest in the research and … Read More

KBKG Tax Insight: R&D Studies Can Make Audits Easier and the Credits More Sustainable

KBKG Tax Insight: R&D Studies Can Make Audits Easier and the Credits More Sustainable

04/28/2020

As featured in Accounting Today Internal Revenue Service examinations of the research tax credit can burden both the client and the IRS. Throughout most of its decades-long history, research credit audits have exposed areas of misunderstanding and, in many circumstances, led to major disagreements. There is little “bright line” guidance, and each examiner must consider … Read More

Changes and Extension of the Virginia R&D Tax Credit

Changes and Extension of the Virginia R&D Tax Credit

04/14/2020

The Commonwealth of Virginia made key changes and extended the income tax credit for conducting qualified research and development in Virginia. Key changes include: A three (3) year extension of the credit from tax years beginning before January 1, 2022 to tax years beginning before January 1, 2025 Beginning January 1, 2021, an increase in … Read More

KBKG Tax Insight: Words Matter When Describing R&D Credit Activities

KBKG Tax Insight: Words Matter When Describing R&D Credit Activities

01/08/2020

As featured in Accounting Today We’ve all experienced a situation where our intent and the meaning of something we’ve said or written was misinterpreted by the recipient. There are numerous articles available for many situations to help us avoid this problem, such as the how to ask the boss for a raise or the best … Read More

Regional Director Todd French Joins KBKG’s Midwest Office

Regional Director Todd French Joins KBKG’s Midwest Office

11/07/2019

KBKG is pleased to announce the addition of Business Development Regional Director Todd French to KBKG’s Midwest Regional office, who is relocating from the KBKG Texas office after serving the Dallas-Ft. Worth Community. Todd French began his finance career 15 years ago as a banker for a large regional bank where he was trained to … Read More

[PRESS RELEASE] Jonathan Tucker Joins KBKG as Director of Research & Development Tax Credits

[PRESS RELEASE] Jonathan Tucker Joins KBKG as Director of Research & Development Tax Credits

08/29/2019

We recently added Research & Development Tax Credits Director Jonathan Tucker to our Southeast office‘s team of experts. Jon brings over 15 years of experience providing federal business tax advisory services to clients in various industries including technology, manufacturing, transportation, healthcare, retail and consumer products, hospitality, media and entertainment, financial and other professional services industries. … Read More

R&D Director Paul McVoy Relocates to KBKG’s New York Office

R&D Director Paul McVoy Relocates to KBKG’s New York Office

08/19/2019

We are excited to announce that we are expanding our New York City office in Midtown with the addition of Research & Development Tax Credit Service Director Paul McVoy, who is relocating from KBKG’s Pasadena Headquarters. While KBKG has had a strong presence in the New York City area for several years, Paul’s addition will … Read More

Myth – Claiming R&D Tax Credit Increases the Likelihood of an IRS Audit

Myth – Claiming R&D Tax Credit Increases the Likelihood of an IRS Audit

04/08/2019

The Research & Development Tax Credit is a federal benefit (also available in many states) that was enacted to promote growth, innovation, and inspire advancements in all areas and facets of business. The credit is an undoubtedly beneficial incentive for businesses large and small. However, many companies are hesitant to take advantage of the credit … Read More

KBKG Tax Insight: R&D Tax Credit – Qualified Research Expenses for Software Development Activities

KBKG Tax Insight: R&D Tax Credit – Qualified Research Expenses for Software Development Activities

09/17/2018

What software development activities and expenditures can be included in an R&D Tax Credit claim for software projects? Companies performing qualified research in creating or improving their software may qualify for federal and state R&D tax credits for the software development activities they are already conducting. These credits are a dollar-for-dollar reduction in federal and … Read More

KBKG Tax Insight: Major PATH Act<sup>1</sup> Changes to the R&D Tax Credit

KBKG Tax Insight: Major PATH Act1 Changes to the R&D Tax Credit

08/27/2018

Major PATH Act2 changes to the R&D Tax Credit for the years beginning after December 31, 2015: The federal R&D Tax Credit has provided taxpayers conducting qualified research a significant tax benefit since it was first signed into law by President Reagan in 1981. Although billions of dollars worth of R&D credits were claimed each … Read More

An Interesting Thread To Pull; The South Carolina R&D Tax Credit

An Interesting Thread To Pull; The South Carolina R&D Tax Credit

08/20/2018

Originally published article by Joseph Toppe from South Carolina Manufacturing Group on August 2, 2018. Stop me if you’ve heard this one before, “South Carolina is a branch manufacturing state.” They tell us there’s not enough headquartering here, not enough research and development, but what if I told you the Palmetto State has a solution, … Read More

KBKG Tax Insight: R&D Credit Opportunity – Improving an Existing Product

KBKG Tax Insight: R&D Credit Opportunity – Improving an Existing Product

06/11/2018

Businesses who are creating a brand-new product may be aware that the expenses associated with the cost of developing the prototype, or first article, of that product can qualify for the Research & Development (R&D) tax credit1. Qualifying expenses can include employee wages, materials used in the construction of the prototype and any third-party contractors … Read More

KBKG Tax Insight: Avoid Common R&D Expense Documentation Errors

KBKG Tax Insight: Avoid Common R&D Expense Documentation Errors

01/14/2018

Business owners are often surprised to learn they may be able to claim the Research & Development (R&D) tax credit. The credit was originally created as way to encourage American companies to conduct R&D activities domestically. While initially thought to apply to large companies with formal R&D departments, “smaller businesses” in a wide range of … Read More

KBKG Tax Insight: Tax Reform & The R&D Tax Credit

KBKG Tax Insight: Tax Reform & The R&D Tax Credit

12/21/2017

It’s been over thirty years since the tax code has been modified to this extent. It has been a talking point for politicians since the Reagan administration brokered the bipartisan Tax Reform Act of 1986. However, the divide between the political parties have kept it a talking point since then, until now. The Tax Cuts … Read More

KBKG Tax Insight: Maximizing the Value of the R&D Tax Credit – Pharmaceutical & Life Sciences Industry

KBKG Tax Insight: Maximizing the Value of the R&D Tax Credit – Pharmaceutical & Life Sciences Industry

11/27/2017

It is no secret that many Pharmaceutical and Life Sciences companies (“Companies”) conduct research and development activities that qualify for numerous tax incentives, including the Research and Development (R&D) tax credit. Recent groundbreaking legislation created a level of certainty for tax planning purposes and also includes provisions geared towards providing significant benefits to small businesses … Read More

KBKG Tax Insight: Effects of Tax Reform on R&D & Orphan Drug Credits

KBKG Tax Insight: Effects of Tax Reform on R&D & Orphan Drug Credits

11/10/2017

Senate Republicans released their own version of a tax plan on Thursday (November 9, 2017), just a week after the House proposal was unveiled. Although both plans keep the research and development tax credit in place, changes in the tax code will require some additional planning for taxpayers currently claiming or those planning on claiming … Read More

KBKG Tax insight: Tips for Documenting Qualifying R&D Expenses

10/26/2017

Every company seeks effective ways to reduce their overall tax liabilities. Although traditional tax planning can certainly reduce business taxes, there is often a limited impact, leaving owners and managers searching for additional savings opportunities. The good news is that the Research and Development (R&D) Tax Credit is available to qualifying companies that have or … Read More

IRS Issues Guidance Around ASC 730 and the R&D Tax Credit

09/29/2017

According to a new guidance released by the IRS, the Large Business and International Division which serves corporations, subchapter S corporations, and partnerships with assets greater than $10 million are instructed to accept financial statements that comply with the GAAP standards as proof of Qualified Research Expenses (QREs). Ultimately, this new directive could lessen the formally … Read More

KBKG Tax Insight: Maximizing the Value of the Orphan Drug Tax Credit

07/19/2017

  The Pharmaceutical and Life Sciences industry currently faces a range of issues, including the rising costs of discovery and development, major losses of revenue due to patent expirations, and increased complexities due to demanding regulatory requirements. Moreover, developers of orphan drugs must overcome a host of additional challenges that make it difficult to recoup … Read More

KBKG Tax Insight: Illinois Reinstates the R&D Tax Credit

07/07/2017

On Thursday, July 6th, the Illinois state legislature successfully voted to override Republican Governor Bruce Rauner’s veto, giving the state its first operating budget in two years.  Included in the $36 billion spending plan is an extension of the state’s research and development tax credit through December 31, 2021.  The research and development (R&D) credit … Read More

KBKG Tax Insight: New R&D Payroll Tax Credit Estimator tool

05/02/2017

The R&D tax credit is now permanent and for the first time ever, small businesses and start-ups can take advantage of this lucrative tax credit. Every year, billions of dollars are given to qualified businesses. Estimate your tax savings using our quick, simple R&D Payroll Tax Credit Calculator and save up to $250,000. Author: Kevin … Read More

KBKG Tax Insight: IRS Issues Final Regulations Surrounding the Qualification of Internal Use Software towards the R&D Tax Credit

10/04/2016

On October 4, 2016, the Internal Revenue Service issued final regulations which provide guidance on the qualification of internal use software (“IUS”) for purposes of the Section 41 Credit for Increasing Research Activities. The final regulations (TD 9786) address many of the comments received regarding the proposed regulations that were released in January of 2015. … Read More

R&D Tax Credit Expanded for Small & Midsize Businesses

12/18/2015

Congress is spreading some cheer this holiday season in the form of tax breaks for both businesses and individuals. The Protecting Americans from Tax Hikes (“PATH”) Act of 2015 was passed by both the House and the Senate and is a groundbreaking $650 billion tax extender bill aimed at providing taxpayers certainty and opportunity into … Read More

R&D Tax Credit for the Food & Beverage Industry

06/08/2015

With the challenge of feeding an ever growing population, food & beverage companies in the United States are forced to increase their research and development efforts to meet demand. In addition to providing more options, food and beverage manufacturers are fighting to keep up with trends in the market place which include the reduction in … Read More

House Passes Permanent Extension of the R&D Tax Credit

05/22/2015

On May 20th, the US House of Representatives passed HR 880, making the Research & Development Tax Credit permanent. The House bill is called the American Research and Competitiveness Bill of 2015. HR 880 provides no revenue offsets which will likely be met with a presidential veto, consistent with what President Obama has promised to … Read More

R&D Tax Credits for Agriculture and Farming

02/18/2015

It may be a surprise to many that food science activities typically associated with agriculture and farming can benefit from the Research & Development (R&D) tax credit. With advances in the food sciences and the challenge of feeding a growing population, those in the agriculture industry have the opportunity to claim and benefit from the … Read More

Treasury Releases Proposed Regulations on R&D Credits for Internal Use Software

01/20/2015

On Friday, January 16, 2015, the Department of Treasury issued proposed regulations regarding the applicability and inclusion of Internal-Use Software as part of the IRC Section 41 ‘Credit for Increasing Research Activities,’ providing increased availability of the research and development tax credit for a greater number of entities, particularly small to mid-sized taxpayers. These proposed … Read More

House on the verge of voting on Tax Extenders including the R&D Tax Credit

12/03/2014

Last week, congressional aides to Senate Majority Leader, Harry Reid (D-NV), and House Ways and Means Committee Chairman, Dave Camp (R-MI), were reportedly nearing a deal to address many of the tax provisions that expired at the end of 2013. The reported value of the deal was in excess of $400 billion. Many of these … Read More

How will the 2014 Midterm Elections Impact tax extenders?

11/07/2014

Not since World War II have Republicans had this large of a majority in Congress. The results from the 2014 midterm election are a staggering blow to Democrats. Prior to the 2014 midterm election, the Democrats had control in the Senate (53 out of the 100 seats with 2 Independents that caucus with the Democrats), … Read More

Research Tax Credit Opportunities for Architects and Engineers

09/11/2014

Although Architecture and Engineering (A&E) firms don’t often claim tax credits, many may be eligible for Federal and state research & development (R&D) tax 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, significant changes to the tax regulations … Read More

R&D Tax Credit Now Allows ASC on Amended Returns

06/02/2014

In a surprising, and long overdue modification to the Section 41 Research & Development tax credit, Treasury announced TD 9666 allowing taxpayer’s the opportunity to use the Alternative Simplified Credit (“ASC”) calculation methodology on amended returns in cases where the credit was not previously claimed on a return. Prior to this announcement, the taxpayer’s were … Read More