Our Articles

2022 Changes to the Tax Treatment of Research and Development Costs

2022 Changes to the Tax Treatment of Research and Development Costs

Beginning in 2022, amendments made by the Tax Cuts and Jobs Act require taxpayers to amortize research and experimentation expenditures over five years or 15 years, for research and development performed outside the U.S.  Attempts were made to delay the adoption of these changes to 2026 with the Build Back Better Bill, but since the BBB stalled in congress, taxpayers should prepare their...

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Employee vs Independent Contractor Misclassification

Employee vs Independent Contractor Misclassification

Employee vs Independent Contractor Misclassification Companies sometimes look to hire independent contractors instead of employees for a number of different reasons.  A company may choose to classify a worker as an independent contractor for legitimate business reasons but may also do so to avoid any number of the following: Avoid paying/offering required & voluntary benefits such as health...

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Employee vs Independent Contractor Misclassification

The Emergency Coronavirus Relief Act of 2020

Congress passed the bipartisan COVID-19 Emergency Relief Act on December 21, 2020 and sent it to President Trump's desk for signature. While the bill provides relief to a variety of areas in the economy, below is a summary of points that we have been asked about the most:   PPP Loan Program Additions and Modifications The forgivable loan program first introduced from the CARES Act in April...

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Employee vs Independent Contractor Misclassification

The Corporate Tax Consequences of Your Employees Working From Home

After the Wayfair ruling in 2018 many businesses took a deeper look at their exposure on a state by state basis, and now that work has shifted almost exclusively to a remote work environment those conclusions need to be reevaluated.  South Dakota v. Wayfair defined that for sales tax purposes the physical presence test is not the only way to fall under a state’s sales tax jurisdiction, so many...

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Employee vs Independent Contractor Misclassification

Personal tax implications of working from home

Many taxpayers who originally thought that working from home would be a temporary circumstance are beginning to find out that their arrangements may become more permanent, and are also learning there are a myriad of tax implications to be aware of.  The tax items may impact not just 2020, but continue into 2021 and beyond while the world waits for the COVID-19 pandemic to subside.   The home...

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The Inflation Reduction Act’s Tax Law Changes

The CARES Act And What It Means For Businesses

On Friday March 27, 2020 the President signed into Law the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act”. In addition to the additional funding for hospitals and broader access to additional virus testing across the country the CARES Act includes over $2 Trillion in funding for individuals and businesses of all sizes through a variety of direct cash payments, loans, tax...

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The Inflation Reduction Act’s Tax Law Changes

The CARES Act And What It Means For Individuals

On Friday March 27, 2020 the President signed into Law the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act”. In addition to the additional funding for hospitals and broader access to additional virus testing across the country the CARES Act includes over $2 Trillion in funding for individuals and businesses of all sizes through a variety of direct cash payments, loans, tax...

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