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Expiration of Tax Cuts
Many of the Bush tax cuts are set to expire and will most likely not be renewed by the new administration. We expect top tax rates to increase in the new legislation for top earners. Many tax advisors are advising clients to take income this year or next year due to expiration of favorable capital gain rates for dividends and also a whole host of other provisions. LEARN MORE »
Research and Development Tax Credit
Research Credit Claiming Criteria: The "Four-Part Test". The R&D Credit has been part of the Internal Revenue Code since 1981; however, a large number of companies have not taken advantage of this provision. In the past, the rules were very confusing. It was hard to determine who qualified, let alone which products or processes might qualify. LEARN MORE »
American Recovery and Reinvestment Act of 2009
On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 into law. In passing the 2009 Act, Congress hopes to strengthen the economy by "creating jobs, cutting taxes and investing in our country's future." LEARN MORE »
New Tax Acts Signed October 2008
The legislation, signed into law on October 3, 2008, actually contains three separate bills: the Emergency Economic Stabilization Act of 2008; the Energy Improvement and Extension Act of 2008; and the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. While the main focus of this Act was to address the recent financial crisis, it ended up including $150 billion in tax incentives for both individuals and businesses. LEARN MORE »