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174 Amortization Fix: Cold Shoulder for Valentine’s Day, but There May Be Warmer Days Ahead
By Justin DiLauro, Partner, Chief Quality Officer, and Geoff Garber, Partner Valentine’s Day has come and gone, and still no love from Congress on fixing the Section 174 Amortization issue. As discussed in the blog, “174 R&E Expense Amortization and R&D Credits: What All Taxpayers Need to Know,” taxpayers must amortize their Section 174 R&E expenses over a five-year period…
Read More174 R&E Expense Amortization and R&D Credits: What All Taxpayers Need to Know
The morning of Tuesday, December 20th, the Omnibus Appropriations Package was released and likely the last bill that will be passed into law by the 117th Congress before the new Congress starts the first week of January. In addition to certain tax extenders absent from this package, the 174 R&E Amortization “Fix” failed to make it in this bill.
Read MoreBRAYN Opens New York Office with Hiring of Tanya Donnelly as Manager
BRAYN Consulting is excited to announce the addition of Tanya Donnelly as an R&D Manager. Tanya is based out of Long Island, New York, allowing BRAYN to serve our clients better in the New York, Northeast, and Mid-Atlantic areas.
Read MoreMark Stapleton Joins BRAYN Consulting as the Director of R&D Operations
BRAYN Consulting LLC is excited to announce the addition of top R&D Tax Credit Consulting talent, Mark Stapleton. Continuing a thirteen-year career in specialty tax credits and incentives with a specialty in R&D, Mark is joining BRAYN as the Director of R&D Operations and will oversee the day-to-day management and subject matter expertise of BRAYN’s thriving R&D Tax Credit practice.
Read MoreEngineering Tax Deductions (179D), the CARES Act, and Making the Most of 2020
BRAYN Consulting is a proud sponsor of ACEC’s Rescue/Recover/Rebuild (R3) Webinars, which brings you a new series of online education offerings to help your firm navigate the uncertainties of the COVID-19 business environment. We invite you to join us on Tuesday, June 23rd at 1:30 pm ET for Engineering Tax Deductions (179D), the CARES Act, and…
Read MoreCARES Act Revises NOL Rules and Opens Door For Unclaimed R&D Tax Credits
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides companies and individuals with a host of tax saving opportunities. We previously discussed the benefits that the qualified improvement property (QIP) fix provides for any taxpayers who have incurred renovation costs since 2018. This article focuses on the impacts to net operating loss (NOL)…
Read MoreR&D Tax Credits are worth 21% more in 2018
Since the corporate tax rate was reduced from 35% to 21% starting in 2018, the federal R&D tax credit has increased by about 21%. This is because businesses are required to either reduce their business deductions by the amount of the gross R&D credit or make a “reduced credit” election in accordance with Internal Revenue…
Read MoreMaking Life Easier for Our Clients!
At BRAYN, our internal goal is to make life easier for our clients. The Payroll Tax Credit – Challenges and Solutions The Payroll Tax Credit (PTC) is a powerful new tax credit for start-ups. Companies performing R&D, who have less than $5M in gross receipts, and no gross receipts prior to the last 5 years,…
Read MoreNew Tax Bill Increases Opportunities for Saving Money on Real Estate Investments
Tax reform is now law and, in the world of real estate and construction, there are major implications to CPAs, finance professionals, property owners, and real estate developers. The new law, titled the Tax Cuts and Jobs Act, made changes that significantly affect building construction and renovation projects, as well as property acquisitions. Qualified Improvement…
Read MoreR&D Tax Credits and Work Performed Under Contract for Architects & Engineers
Many owners, officers, and CPAs of architecture and engineering (A&E) firms are unaware that they are eligible for valuable federal and state Research & Development (R&D) Tax Credits. However, due to the expansive definition of R&D for tax credit purposes, many of the day-to-day design and engineering activities performed by A&E firms often qualify for…
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