--- title: Machen McChesney Blog | Tax Updates (2) description: Tax Updates | (2) --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-cobrand-fd-blues.png?width=279&height=100&name=mm-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - 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[Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## [Spotlight on: Fabricated Metals - More Manufacturers May Use R&D Credits Under Pending Legislation](https://info.machen.cpa/blog/spotlight-on-fabricated-metalsmore-manufacturers-may-use-rd-credits-under-pending-legislation) ![](https://info.machen.cpa/hubfs/Melissa%20Motley%202025%20update%20.jpg) Posted by [Melissa Motley, CPA](https://info.machen.cpa/blog/author/melissa-motley-cpa) on Nov 18, 2015 [![](https://info.machen.cpa/hubfs/Manufacturing.jpg)](https://info.machen.cpa/blog/spotlight-on-fabricated-metalsmore-manufacturers-may-use-rd-credits-under-pending-legislation) Designed to encourage investment in innovation, R&D tax credits can sometimes be overlooked by fabricated metals products manufacturers, when in fact they are accessible to many small- and medium-sized manufacturers in the sector. It’s important to note that a company need not necessarily be producing an end product to qualify. Often, fabricated metals producers are engaging in projects aimed at implementing design, manufacturing or process improvement at the parts level. While many may not feel that such projects fall under the scope of R&D, many of the investments in improvement made by fabricated metals manufacturers to stay competitive in fact qualify as R&D from the government’s perspective. [Full Story](https://info.machen.cpa/blog/spotlight-on-fabricated-metalsmore-manufacturers-may-use-rd-credits-under-pending-legislation) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Five Year-End Tax Ideas for Businesses](https://info.machen.cpa/blog/five-year-end-tax-ideas-for-businesses) ![](https://info.machen.cpa/hubfs/Marty%20Williams%202025%20update.jpg) Posted by [Marty Williams, CPA](https://info.machen.cpa/blog/author/marty-williams-cpa) on Oct 16, 2015 [![](https://info.machen.cpa/hubfs/AdobeStock_80795258_ID_31794.jpeg)](https://info.machen.cpa/blog/five-year-end-tax-ideas-for-businesses) Don’t think that year-end tax planning is strictly limited to individuals. A calendar-year business can also keep taxes for 2015 to the bare minimum with some astute planning at the end of the year. Here are five techniques for consideration by small-business owners. [Full Story](https://info.machen.cpa/blog/five-year-end-tax-ideas-for-businesses) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Seven Make-or-Break Year-End Tax Moves for Individuals](https://info.machen.cpa/blog/seven-make-or-breakyear-end-tax-moves) ![](https://info.machen.cpa/hubfs/Melissa%20Motley%202025%20update%20.jpg) Posted by [Melissa Motley, CPA](https://info.machen.cpa/blog/author/melissa-motley-cpa) on Oct 15, 2015 [![](https://info.machen.cpa/hubfs/iStock_000023568808_Large.jpg)](https://info.machen.cpa/blog/seven-make-or-breakyear-end-tax-moves) As another year draws to a close, the tax moves you make or don’t make, can have a significant impact on your 2015 tax return. Fortunately, there are plenty of tax-saving opportunities available to individual taxpayers, even if certain tax provisions are not resolved until the waning days of the year. Here are seven ways you may be able to reduce your tax bill for 2015. [Full Story](https://info.machen.cpa/blog/seven-make-or-breakyear-end-tax-moves) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Year-End Tax Planning Considerations for Individuals](https://info.machen.cpa/blog/year-end-tax-planning-considerations) ![](https://info.machen.cpa/hubfs/Marty%20Williams%202025%20update.jpg) Posted by [Marty Williams, CPA](https://info.machen.cpa/blog/author/marty-williams-cpa) on Sep 14, 2015 [![](https://info.machen.cpa/hubfs/iStock_000005090067_Small.jpg)](https://info.machen.cpa/blog/year-end-tax-planning-considerations) As the summer months wind down, year-end tax planning will become a hot topic for many client service professionals. Whether it’s the closely held business owner or a high-net-worth individual, income taxes represent a significant outflow for our clients. With top rates of 39.6% on ordinary income, 20% for long-term capital gains plus a 3.8% Net Investment Income Tax (NIIT), our tax environment requires us to find favorable opportunities that generate tax savings for clients. If not already addressed on a regular basis, year-end planning is the last chance to evaluate opportunities before the year comes to a close. As conversations begin to shift toward year-end planning, here are a few strategies to consider. [Full Story](https://info.machen.cpa/blog/year-end-tax-planning-considerations) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Take Tax Credit for Making History](https://info.machen.cpa/blog/take-tax-credit-for-making-history) ![](https://info.machen.cpa/hubfs/Marty%20Williams%202025%20update.jpg) Posted by [Marty Williams, CPA](https://info.machen.cpa/blog/author/marty-williams-cpa) on Aug 21, 2015 [![](https://info.machen.cpa/hubfs/AdobeStock_77064826RESIZED.jpg)](https://info.machen.cpa/blog/take-tax-credit-for-making-history) A real estate owner may be contemplating the renovation of an older building in a historic part of town or a place that otherwise has historical implications. Fortunately, the federal tax law provides some incentives. Before you start tearing down walls and putting up a new façade, follow the steps for having the building certified as a historic structure. The payoff is a tax credit—a dollar-for-dollar reduction of your tax bill—equal to 20% of the renovation costs. [Full Story](https://info.machen.cpa/blog/take-tax-credit-for-making-history) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [6 Common Expenses that May Qualify for a Medical Tax Deduction](https://info.machen.cpa/blog/how-to-clear-the-medical-deduction-hurdle) ![](https://info.machen.cpa/hubfs/Lesley%20Price%202025%20update.jpg) Posted by [Lesley L. Price, CPA](https://info.machen.cpa/blog/author/lesley-l-price-cpa) on Jul 07, 2015 ![iStock\_000041467496\_Large](https://info.machen.cpa/hs-fs/hubfs/iStock_000041467496_Large.jpg?width=250&name=iStock_000041467496_Large.jpg)In the past, it was difficult to qualify for medical expense deductions. Now, some pundits would say that it is “nearly impossible.” Based on tax law changes that took effect in 2013, most taxpayers can deduct only unreimbursed expenses in excess of 10% of their adjusted gross income (AGI), up from 7.5% of AGI under prior law. For taxpayers who are aged 65 or older, the threshold remains at 7.5% of AGI, but only through 2016. [Full Story](https://info.machen.cpa/blog/how-to-clear-the-medical-deduction-hurdle) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Maximizing Tax Benefits of Installment Sales](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jul 07, 2015 [![](https://info.machen.cpa/hubfs/iStock_000036942980_Large.jpg)](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) If you are trying to sell appreciated commercial real estate in today’s market, you may have to compromise. For instance, if you refuse to budge on price, you might have to make other reasonable concessions, such as agreeing to an installment sale for a buyer with limited liquidity. As the name implies, the buyer pays you in a series of installments instead of providing all the cash up front. This could actually be beneficial from a tax perspective if payments are made over two years or more. In that case, not only do you defer some of the tax due on the appreciation in value, but you may reduce your tax liability. [Full Story](https://info.machen.cpa/blog/maximizing-tax-benefits-of-installment-sales) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Eight Tax Moves to Make at Midyear](https://info.machen.cpa/blog/eight-tax-moves-to-make-at-midyear) ![](https://info.machen.cpa/hubfs/Melissa%20Motley%202025%20update%20.jpg) Posted by [Melissa Motley, CPA](https://info.machen.cpa/blog/author/melissa-motley-cpa) on Jun 25, 2015 [![](https://info.machen.cpa/hubfs/Tax_Moves.jpg)](https://info.machen.cpa/blog/eight-tax-moves-to-make-at-midyear) The summer is not just the season for recreation and relaxation. It can also be the time to reduce your 2015 tax liability. Here are eight prime examples for individuals and small-business owners: [Full Story](https://info.machen.cpa/blog/eight-tax-moves-to-make-at-midyear) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [Revenue Recognition Update: FASB Clarifies Standard for Licenses of IP and Performance Obligations](https://info.machen.cpa/blog/revenue-recognition-update) ![](https://info.machen.cpa/hubfs/Aaron%20Waller%202025%20update.jpg) Posted by [Aaron K. Waller, CPA](https://info.machen.cpa/blog/author/aaron-k-waller-cpa) on Jun 15, 2015 ![iStock\_000042829330\_Medium](https://info.machen.cpa/hs-fs/hubfs/iStock_000042829330_Medium.jpg?width=223&name=iStock_000042829330_Medium.jpg "iStock_000042829330_Medium") In May 2014, the FASB issued ASU 2014-091 (the new revenue standard), establishing a comprehensive revenue recognition standard for virtually all industries in U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries.     [Full Story](https://info.machen.cpa/blog/revenue-recognition-update) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) ## [What Does a Software Developer and a Manufacturer Have in Common?](https://info.machen.cpa/blog/does-software-development-and-manufacturing-go-hand-in-hand-) ![](https://info.machen.cpa/hubfs/Marty%20Williams%202025%20update.jpg) Posted by [Marty Williams, CPA](https://info.machen.cpa/blog/author/marty-williams-cpa) on Jun 02, 2015 [![iStock\_000062472524\_Full](https://info.machen.cpa/hs-fs/hubfs/iStock_000062472524_Full.jpg?width=200&name=iStock_000062472524_Full.jpg)](https://info.machenmcchesney.com/blog/does-software-development-and-manufacturing-go-hand-in-hand-)Until recently, software development and manufacturing have been very different industries. Under the recent Internal Revenue Code Section 199, Domestic Production Activity Deduction (DPAD), these industries may be meeting the same definition. This could mean a significant permanent tax deduction for software developers. [Full Story](https://info.machen.cpa/blog/does-software-development-and-manufacturing-go-hand-in-hand-) Posted in [Tax Updates](https://info.machen.cpa/blog/topic/tax-updates) [Previous](https://info.machen.cpa/blog/topic/tax-updates/page/1) [Next](https://info.machen.cpa/blog/topic/tax-updates/page/3) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (238)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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