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Tag Archives: tax credits

Expanded Tax Credits Available to Qualifying Residential New Home Builders, Contractors by Adam Fisher, CPA


Posted on February 07, 2024 by Adam Fisher

The Inflation Reduction Act of 2022 (IRA) amended Section 45L of the U.S. Tax Code by expanding the Energy Efficient Home (EEH) credit available to builders and other contractors that construct or substantially reconstruct new single-family homes and multifamily structures after Dec. 31, 2023, and on or before Dec. 31, 2032, that meet specific energy […]

Expanded Tax Credits Help Offset the Costs of Energy-Efficient Home Improvements by Rachel Kenney Rego, CPA


Posted on June 08, 2023 by Rachel Kenney Rego

Upgrading your home’s energy efficiency can not only help the environment and reduce your electric bills, but it can also provide you with valuable tax credits to cover a portion of qualifying improvement expenses beginning in 2023. Energy Efficient Home Improvement Credits  Under the Inflation Reduction Act signed into law in 2022, homeowners may earn […]

Businesses with R&D Expenditures Must Prepare for the Risk of Higher Taxes by Karen A. Lake, CPA


Posted on March 27, 2023 by Karen Lake

Congress closed out another year without restoring taxpayers’ ability to fully deduct research and development (R&D) expenditures in the year incurred, a taxpayer-friendly provision of the Internal Revenue Code that had been in place for nearly 70 years before 2022. This change has had significant implications for many businesses that were again surprised to find […]

R&D Tax Credits Can be a Boon to Real Estate Businesses by Karen A. Lake, CPA


Posted on February 21, 2023 by Karen Lake

Mentioning the federal research and development (R&D) tax credit often conjures up images of scientists in white coats conducting lab experiments. Truth be told, the credit, which can reduce taxpayers’ federal tax liabilities, applies to a wide variety of activities conducted by companies outside of labs in an even broader range of industries, including construction […]

Real Estate Owners, Builders, Contractors Can Find Valuable Tax Savings in New Law by Kevin McNally, JD


Posted on February 14, 2023 by Kevin McNally

The passage of the Inflation Reduction Act in 2022 ushered in new and expanded tax-saving opportunities for individuals and businesses that produce, adopt and/or invest in energy-efficient technologies, including wind, solar and geothermal power. This includes an extension of tax savings to commercial real estate property owners and, for the first time, real estate investment […]

Businesses, Nonprofits Have Until 2024 to Claim Valuable Employee Retention Tax Credits by Andreea Cioara, CPA


Posted on January 12, 2023 by Andreea Cioara

When COVID-19 set off a domino effect of business closings in March 2020, the U.S. government responded with a series of economic stimulus programs to help affected organizations stay afloat. Now, as we enter 2023, one of those relief measures is still available for businesses and nonprofits to apply for retroactively when they meet eligibility […]