If your small business or start-up is planning to claim the research tax credit, there’s an option to get immediate use of the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits against payroll taxes instead of your income tax.
Every nonprofit should have an executive search plan. Even if you aren’t facing an imminent vacancy, your organization is smart to prepare for what can be a long process. Executive searches generally take several months — even if you end up hiring someone already known to your nonprofit.
Selecting a new chief executive or other senior staffer is one of the most important decisions your not-for-profit board is likely to face. Even if there’s no immediate hiring need, it’s smart to prepare for the process. That way, you’ll be ready to execute an efficient executive search when the time arrives.
A business valuation professional can provide an objective estimate of your manufacturing company’s worth. This can be beneficial not only if you’re selling your business but also if you’re seeking financing, drafting a buy-sell agreement or estate planning.
As the year draws to a close, it’s generally manufacturers’ last chance to implement year-end tax planning strategies to reduce their 2024 tax liability. Making time right now could prove to be very beneficial in the upcoming tax season.
Think you can spot misleading tax advice online? You might be surprised. Discover how even savvy individuals can fall prey to dubious claims and learn the red flags to watch out for.
Starting a manufacturing company isn’t cheap, and start-up costs can be substantial to acquire a facility, equipment and materials. Luckily, some start-up costs may be deductible for income tax purposes.
Understand the M&A trends in 2024 and how businesses are leveraging these opportunities to strengthen their market position.
Selling private company stock can be challenging for a non-controlling shareholder. This article explores the critical considerations, from understanding company restrictions to finding the right buyers and planning for taxes.
Financial planning for college expenses should be started as soon as possible. Also, you need to understand the effect of student aid and family contributions, explore college savings plans, and discover how to increase your child’s chances of receiving merit-based scholarships.
If you operate a business, or you’re starting a new one, carefully recording legitimate business expenses is important to be able to claim all the tax deductions to which you’re entitled.
Prospective nonprofit board members commonly cite time constraints as a reason not to join. Using board committees to lighten the load may make it easier for nonprofits to recruit qualified individuals.
The quest for skilled laborers in the manufacturing sector continues. Where can manufacturers turn to fill open positions? One option can also provide substantial tax savings: Hire workers that qualify for the Work Opportunity Tax Credit (WOTC).
Even if your startup business has little or no income tax liability, you may be eligible for a payroll tax credit election for increasing R&D activities. This tax break got better under the Inflation Reduction Act.
For manufacturers, as certain provisions of the Tax Cuts and Jobs Act (TCJA) begin to phase out, other tax laws, including the Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors Act, have begun to kick in.
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