Timely Tips
& Reminders
Providing you with tips & reminders on R&D, cost segregation, and energy tax
incentives.
Providing you with tips & reminders on R&D, cost segregation,
and energy tax incentives.
Providing you with tips & reminders on
R&D, cost segregation, and energy tax
incentives.
Are you missing out on the Employee Retention Tax Credit (ERTC)?

Are you missing out on the Employee Retention Tax Credit (ERTC)?

04/14/2021

If you have not looked into Employee Retention Tax Credits, then you need to reach out to your regional director or contact us right away to see if you qualify. It is worth a quick assessment. We can help you claim the credit and receive cash refunds up to $5,000 per employee in 2020 and … Read More

Updates to KBKG’s Qualified Improvement Quick Reference Chart

Updates to KBKG’s Qualified Improvement Quick Reference Chart

04/09/2021

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

FAQs – Employee Retention Credit (ERTC)

FAQs – Employee Retention Credit (ERTC)

03/01/2021

The Employee Retention Credit (ERTC) was created as part of the CARES Act to encourage businesses to continue paying employees by providing a credit to the eligible employer for wages paid to eligible employees. The ERC could be a valuable alternative for those who did not qualify for PPP and other emergency loans. We have … Read More

2020 vs. 2021 Employee Retention Credit Comparison Chart

2020 vs. 2021 Employee Retention Credit Comparison Chart

02/26/2021

Jason Melillo is a Principal and Local and Wage Based Incentive practice leader at KBKG. His areas of expertise are Local Incentives, Employment Tax Credits which includes Employee Retention Tax Credit, and other employment credits. Old Law New Law Eligible Employers 2020 2021 Eligible employers can receive a refundable payroll tax credit of 50% of … 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

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

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

Transfer Pricing Frequently Asked Questions

Transfer Pricing Frequently Asked Questions

03/06/2020

While transfer pricing is an important tax issue, many US and foreign clients are unaware of the tax and cash flow benefits of proactive planning. We have compiled a list of frequently asked questions below to provide insights on the fundamentals of US and international cross-border pricing rules. These questions also highlight some practical strategies … Read More

Evaluating a Cost Segregation Provider? Consider Someone with the ASCSP Certification

Evaluating a Cost Segregation Provider? Consider Someone with the ASCSP Certification

07/23/2019

Are you considering a cost segregation study? As you begin to evaluate potential service providers, it’s important to remember that there are significant differences among cost segregation advisors in the marketplace. Sometimes taxpayers are not immediately aware of how those differences may impact their experience from start to finish. The American Society of Cost Segregation … Read More

BREAKING NEWS: Senate Finance Committee Launching Bipartisan Taskforces on Tax Extenders Including Green Building Tax Incentives

BREAKING NEWS: Senate Finance Committee Launching Bipartisan Taskforces on Tax Extenders Including Green Building Tax Incentives

05/16/2019

Update as of 5/23/2019: The House Ways and Means Committee is currently putting together a package to address tax extenders such as the 45L tax credit and 179D tax deduction. Currently, a markup on tax extenders is expected sometime in June. BREAKING NEWS from 5/15/2019: The Senate Finance Committee launched bipartisan taskforces to address tax … Read More

Tax Tip for Small Businesses: The Benefit of Bonus Depreciation

Tax Tip for Small Businesses: The Benefit of Bonus Depreciation

05/08/2019

In recognition of Small Business Week, here’s a quick tax tip to fuel your business: Bonus depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the cost of an eligible asset instead of recovering the amount over the tax life of the asset. The Tax Cuts and Jobs … 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

Tax Reform Makes it Easier to Generate Deductions with Cost Segregation

Tax Reform Makes it Easier to Generate Deductions with Cost Segregation

01/18/2019

In 2018, the tax reform changes made cost segregation studies more valuable than before. Under the new law, any building components with a tax recovery period of 20 years or less, are eligible for 100% Bonus Depreciation. Historically, bonus depreciation only applied to newly constructed property, but now it’s available for any acquired property. These … Read More

Impact of the Government Shutdown on Real Estate Tax Policy

Impact of the Government Shutdown on Real Estate Tax Policy

01/18/2019

The longest government shutdown in U.S. history is creating more uncertainty for the current and future tax landscape. As the border wall standoff delays guidance necessary to properly implement tax reform, taxpayers are left wondering how to timely file their 2018 tax returns without ultimately having to amend down the road. Congress currently hasn’t been … Read More

Partial Disposition Election for Buildings Being Targeted by IRS

Partial Disposition Election for Buildings Being Targeted by IRS

06/18/2018

Recently, the IRS Large Business and International division highlighted five issues that it will be targeting in its “compliance campaign” audit strategy this year. One of the issues on its radar is the partial disposition election for buildings and its structural components. Treasury Regulations provide guidelines for recognizing gain or loss on the disposition of … Read More

KBKG Video: Top 5 Things You Should Know About Cost Segregation

11/15/2017

Are you a tax professional looking for an easy way to explain Cost Segregation to your clients? This 3-minute video helps building owners understand why they should consider Cost Segregation for their building and covers the top 5 things they need to know to get started. Cost Segregation is a commonly used strategic tax planning … Read More