Tag: tax credits

June 28, 2023

On June 14, 2023, the IRS released proposed regulations on the provisions created under the Inflation Reduction Act of 2022 (the “IRA”) that will allow developers to sell energy tax credits. Transferability is expected to supplement (and in some cases […]

April 28, 2023

Business tax credits can be a powerful tool for small businesses to lower their tax bill directly. If you’re eligible for any of the tax savings credits—such as Work Opportunity Tax Credit, Employer Credit for Payroll Taxes Paid on Employee […]

February 17, 2023

The Inflation Reduction Act of 2022 (IRA) created several new tax incentives to encourage developing clean energy projects that would benefit underserved communities and individuals. Among these incentives, Congress included generous adders to the Section 48 investment tax credit (ITC) […]

October 14, 2022

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (IRA) of 2022. Among many other provisions, the IRA contains a new federal 30% tax credit for private construction, alteration or repair of qualifying clean energy projects, […]

October 6, 2022

What Is the Protecting Americans From Tax Hikes (PATH) Act? The Protecting Americans from Tax Hikes (PATH) Act of 2015 is an Obama-era law that expanded or renewed a number of tax credits for individuals, families, and businesses while implementing […]

September 20, 2022

IRS Publication 970 is a document published by the Internal Revenue Service (IRS) that provides information on tax benefits available to students and families saving or paying for college. It explains the tax treatment for the most common forms of […]

September 15, 2021

Do Subsidies Help the Economy? Government subsidies help an industry by paying for part of the cost of the production of a good or service by offering tax credits or reimbursements or by paying for part of the cost a […]

September 9, 2021

When Are Quarterly Taxes Due? People who work for companies have estimated taxes withheld from their paychecks, but independent contractors, business owners, and those who live on investment income are required to proactively pay estimated taxes on a quarterly basis. […]

June 3, 2021

With millions of Americans still out of work and job openings at a record high, policy makers are dealing with an unexpected problem: How to coax people back into the labor force. Congressional lawmakers from both parties are considering incentives […]

February 3, 2021

Many employers are providing voluntary Families First Coronavirus Response Act (FFCRA) leave, even though organizations aren’t sure if they will qualify for a tax credit for doing so. Employer obligations to provide FFCRA paid sick and family leave expired at […]

January 30, 2020

The United States has a multi-tiered income tax system under which taxes are imposed by federal, state, and sometimes local governments. Federal and state income taxes are similar in that they apply a percentage rate to taxable incomes, but they […]

December 3, 2019

Few of us want to pay more tax than we have to. Understanding the tax credits and deductions that we’re eligible for, and calculating them correctly, can mean the difference between owing more money at tax time or receiving a […]

March 26, 2019

Based on an SBA study, small businesses pay an average tax rate of 19.8%. The actual tax rates that apply to small businesses vary significantly based on business entity, income, deductions, tax credits, and rates in effect for the year. […]