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Research and Development Credits Insights

WEBINAR: Tax Reform 2.0 The Sequel – The Made in American Tax Plan

This one-hour course covered key aspects of the Made in America Tax Plan described in the Whitehouse Whitepaper and most recently, in the Presidents proposed budget for fiscal year 2022. We reviewed the proposals and accounting impact of the Senate Finance Committee proposal, along with discussions on tax items by the OECD. We reviewed the financial reporting impact of these tax plans, if enacted, under ASC 740 Accounting for Income […]

July 28, 2021

Will Clean Renewable Energy Tax Proposals be Enacted by Congress in 2021?

The Biden Administration is pushing forward with a $3.5 trillion plan to provide significant initiatives intended to reform and expand current law tax incentives and create new energy tax incentives that are designed to encourage companies to invest in clean renewable energy solutions and source energy from clean renewable sources.  As the Biden Administration looks to pull away from the dependence on fossil fuels, it has made energy a primary […]

July 22, 2021

The Employee Retention Credit (ERC) – How to qualify and calculate the credit?

The Basics The ERC was created as part of the CARES Act as a temporary coronavirus-relief provision to assist businesses in keeping employees on payroll.  Since its enactment the ERC has been expanded and extended through December 31, 2021. The ERC is a credit that first offsets payroll taxes and then is refundable.  Employers can receive a benefit of up to $5,000 per employee in 2020 and up to $28,000 […]

July 5, 2021