CHIPS Act poised to boost U.S. businesses The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and
Businesses: Act now to make the most out of bonus depreciation
The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available
Standard business mileage rate will increase for the second half of 2022
The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this
Proposed regs for inherited IRAs bring unwelcome surprises
Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes
Congress Eyes Further Retirement Savings Enhancements
In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006 — became law. Now Congress
New State Laws Affect Businesses for the Good and the Bad
A bill Governor Gavin Newsom signed into law in February has positive tax implications for businesses, while a second bill requires certain companies to provide workers with COVID-19 sick leave
The IRS again eases Schedules K-2 and K-3 filing requirements for 2021
The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships
Why a Cost Segregation Study is a Good Idea
Accelerate Depreciation Deductions to Reduce Taxes and Boost Cash Flow The COVID-19 pandemic has resulted in many companies conserving cash and not buying much equipment during the past year. An
