xendoo

JANUARY 30, 2023

Minimizing your company’s tax burden can help maximize profits. One way of doing this is through business tax credits. Leveraging the right tax credits can save your business thousands of dollars in taxes each year. How do you know which tax credits will save you the most money?

business tax 52

business tax Tax tax return income tax 52

Withum

SEPTEMBER 2, 2022

The federal tax incentive for qualified energy property was extended through the IRA for most projects that begin construction before January 1, 2025 (2035 for geothermal energy used for healing and cooling a structure). For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 69

Tax Construction Government tax services 69

Withum

AUGUST 11, 2022

The proposals in the IRA would restore the tax credit and significantly increase the credit for qualified facilities provided additional criteria is met during construction. The proposed bill incentives businesses to create more efficient facilities and provide fair wages to laborers and mechanics during construction.

Tax 84

Tax Construction Manufacturing Transportation 84

Withum

JANUARY 21, 2022

Offering this new benefit or loosening restrictions on existing PTO programs is great for employee morale, but it can cause unintended tax consequences under the constructive receipt doctrine. The problem with these plans is they create unintended tax consequences due to an arcane tax concept called the constructive receipt doctrine.

Tax 82

Tax Construction tax services business tax 82

Withum

SEPTEMBER 2, 2022

The basis still includes not only the purchase price of the property but also any costs for acquisition or construction. In addition, qualified apprentices must be utilized for a certain number of labor hours when constructing the alternative fuel vehicle refueling property. The basis must be reduced by any amount expensed under §179.

Construction 80

Construction Manufacturing Tax Government 80

Withum

SEPTEMBER 6, 2022

Under the IRA, the square footage deduction could be as high as $5 per square foot encouraging the construction of energy efficient commercial buildings. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. The deduction for the 2022 taxable year was $1.88 Contact Us.

Construction 80

Construction tax services business tax Tax 80

Withum

MAY 16, 2022

QRPBI is debt that is incurred or assumed by the taxpayer in connection with real property used in a trade or business and is secured by such property. For property acquired on or after January 1, 1993, QRPBI includes debt used to acquire, construct, reconstruct, or substantially improve real property. Business Tax Services.

Real Estate 131

Real Estate Tax income tax tax return 131