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.
Spotlight on: Fabricated Metals - More Manufacturers May Use R&D Credits Under Pending Legislation

Posted by Melissa Motley, CPA on Nov 18, 2015
Posted in Tax Updates
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.
Posted in Tax Updates
Seven Make-or-Break Year-End Tax Moves for Individuals

Posted by Melissa Motley, CPA on Oct 15, 2015
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.
Posted in Tax Updates
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.
Posted in Tax Updates
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.
Posted in Tax Updates
6 Common Expenses that May Qualify for a Medical Tax Deduction

Posted by Lesley L. Price, CPA on Jul 07, 2015
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.
Posted in Tax Updates
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.
Posted in Tax Updates
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:
Posted in Tax Updates
Revenue Recognition Update: FASB Clarifies Standard for Licenses of IP and Performance Obligations

Posted by Aaron K. Waller, CPA on Jun 15, 2015

Posted in Tax Updates
What Does a Software Developer and a Manufacturer Have in Common?

Posted by Marty Williams, CPA on Jun 02, 2015
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.
Posted in Tax Updates