2023 will bring some exciting and lucrative tax incentives for small and medium businesses across America. Taking advantage of these opportunities can significantly impact your business’s bottom line, so it’s essential to stay informed about the incentives available.
The Senate’s failure to approve a measure passed earlier this year by the House has delayed, for now, a solution to the quandary faced by many small and midsized companies that are severely hampered by the absence of the ability to currently deduct research & development expenses.
The US Supreme Court is slated to hear a case Wednesday that will test the reach of privacy protections against the IRS’s power to demand bank account records without ever notifying account holders.
Even CPA Firms Are Facing “Supply Chain” Issues. It is no secret that the US is facing a serious shortage of accounting professionals which will result in severe circumstances for the CPA profession and the market for CPA firm services. The latter point is always overlooked.
In a decision that is being regarded as a major win for U.S. business owners, in the case of Suder v. IRS, the U.S. Tax Court has reaffirmed recent judicial precedent with respect to the R&D tax credit, reaffirming that businesses that are building on the work of others or performing applied research may be eligible to claim the incentive.
The Internal Revenue Service’s intended ramping up of enforcement on wealthy people, large corporations and complex partnerships may not have a meaningful impact in the short term because of challenges in hiring and training people to do the work.
The Employee Retention Credit is the most powerful credit available to businesses nationwide. But with scams and unreliable providers on the rise, there are growing concerns, which has led to the IRS moratorium on ERC to protect honest taxpayers.
alliantgroup recently hosted our annual SPARK Award luncheon to recognize elementary science teachers from across the State of Texas. The ceremony was held at alliantgroup’s global headquarters in Houston, Texas.
U.S. federal budget cuts have started to have some early impact on space startups after funding for such companies dropped 12.5% in the first quarter, according to investment firm Seraphim Space.
Laura Lynn Gonzalez expected a tax refund this year, after her two-employee data-visualization company experienced a $30,000 loss. Instead, she said, she is facing a $100,000 federal tax bill that is about as large as her 2022 salary.