By Jeffrey A. Redband, Staff Accountant The One Big Beautiful Bill (OBBB) brought sweeping changes to the U.S. tax code, which included a significant overhaul to the energy-related tax incentives that were enacted as part of the Inflation Reduction Act of 2022. The bill curbs many energy incentives available to both individuals and businesses by […]
By Amanda M. Ziehm, Staff Accountant The One Big Beautiful Bill (OBBB) brings sweeping tax changes to U.S. businesses. Below is a quick look at some of the key changes: Qualified Business Income Deduction Section 199A was set to expire after 2025, which is a 20 percent deduction for qualified business income. The QBID has […]
The American people have decided, and the election outcome paves the way for President-elect Donald Trump with a Republican-controlled Congress to push through key aspects of his ambitious policy agenda. Trump’s victory increases the likelihood that expiring tax provisions in the 2017 Tax Cuts and Jobs Act (TCJA) will be either extended or made permanent. […]
The Inflation Reduction Act of 2022 extended and expanded many energy tax incentives. This article will focus on energy credits available to individuals for making qualified energy efficient or clean energy home improvements. Beginning January 1, 2023 and continuing through December 31, 2032, the Energy Efficient Home Improvement Credit provides a credit equal to 30 […]
Did you miss our live webinar on cost segregation studies? You can listen to it at your convenience on our YouTube channel here. If you are purchasing or renovating an existing building, or constructing a new building, a cost segregation study may help you maximize any available tax benefits related to those activities. Our cost […]