Research and Development Tax Credits
VIDEO: While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
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Research Tax Credit
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.
NonProfit Executive Search Plan
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.
Create a Nonprofit Executive Search Plan – Before it Becomes Necessary
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.
Manufacturing Cyberattacks
Manufacturing cyberattacks are becoming more common and the attacks are designed to disrupt operations and extort money. Here are some ideas to get ahead of the cybercriminals.
R&E Expense Amortization Got You Down?
VIDEO: Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
Tax Savings for Manufacturers
Do you know what are the top tax-saving opportunities for manufacturers in 2023? Once your manufacturing company’s 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability.
Reasons to Renew
When inflation is high, you may need to give your members a reason to renew because it’s common for people to cut expenses by deciding not to renew subscriptions and memberships.
SECURE 2.0 Act
The Setting Every Community Up for Retirement Enhancement, SECURE 2.0 Act of 2022, aims to improve retirement savings by making it easier for employers to offer retirement plans to employees and offers many changes for individuals. Here are some of the highlights of the Act.
Changes to the Treatment of R&E Expenditure Under Section 174
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about a number of Research and Experimentation (R&E) changes to how R&E expenses are treated under Section 174 of the Internal Revenue Code.
Manufacturing Tax Laws in Limbo
Barring further legislation, certain manufacturing tax laws are in limbo, as key provisions have expired or have begun to phase out. Here are three that could have a significant impact on your company.
Company Structure Affects Taxes for Manufacturers
A company’s structure affects taxes and for decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations. However, in recent years the limited liability company (LLC) has become another popular alternative. Let’s compare these two business structures to see how your company’s structure affects taxes.
Gregory Nelson
Greg is a Principal and the head of Olsen Thielen’s Tax Department. He works in the Tax Department of the Eden Prairie office of Olsen Thielen and works primarily with closely-held, family-owned, start-up companies, and real estate professionals. Greg has recently participated as a panelist for Finance & Commerce’s “The
Joseph Mayer
Joe is a Principal in the Tax Department of the Roseville office of Olsen Thielen and has extensive experience in tax issues and tax planning with closely-held and family-owned businesses and their shareholder/owners. Experience Consults on business and individual tax planning Provides research on technical tax issues affecting business and/or
Scott Hoyles
Scott is a Principal in the Tax Department of the Roseville office of Olsen Thielen and works with closely-held businesses and individuals in the manufacturing, construction, professional services, and hospitality industries. Experience Provides business valuations for business transactions and planning, estate work and gift compliance, shareholder disputes, and more Experience