Sep 16, 2025 | Blog Posts, Tax Talk Tuesdays
The Fuel Tax Credit provides a refundable credit for fuel used in specific, qualifying work-related activities. It is not available to most taxpayers, and eligibility is limited to certain businesses and uses. Eligibility Requirements To claim the credit, you must...
Sep 9, 2025 | Blog Posts, Tax Talk Tuesdays
The One Big Beautiful Bill Act (OBBBA) eliminated most individual credits for clean energy, including the clean vehicle credits for cars and the energy-efficient home improvement credit. The following is a summary of the credits that will expire soon. IRS Code Section...
Aug 26, 2025 | Blog Posts, Tax Talk Tuesdays
Inventory has a direct impact on both a company’s balance sheet and taxable income. For businesses that sell physical goods, accurate accounting for inventory is essential for meeting IRS requirements and producing reliable financial statements. When Inventory...
Aug 18, 2025 | Blog Posts, Tax Talk Tuesdays
Adoptive families now have access to expanded financial support thanks to significant updates to the federal Adoption Tax Credit, introduced through the One Big Beautiful Bill Act (OBBBA). These changes are designed to make adoption more affordable and accessible,...
Aug 12, 2025 | Blog Posts, Tax Talk Tuesdays
Taxpayers investing in clean energy manufacturing, industrial decarbonization, or critical materials processing may benefit from the Section 48C Qualifying Advanced Energy Project Credit—a powerful federal incentive that can offset up to 30% of eligible project costs....
Aug 5, 2025 | Tax Talk Tuesdays
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, brought sweeping changes to the tax code. Among its many tax provisions, OBBBA expands the use of other accounting methods, including the completed contract method (CCM) of accounting for the...
Jul 28, 2025 | Tax Talk Tuesdays
The ability to deduct business interest expense is a significant tax benefit, especially for companies that rely on debt to fund operations and growth. However, that deduction has been subject to limits under Section 163(j) of the Internal Revenue Code, a provision...
Jul 21, 2025 | Tax Talk Tuesdays
For businesses looking to improve cash flow, manage tax liabilities, or adapt to growth, changing accounting methods can be a powerful strategy, especially in light of new IRS guidance and legislative updates. An accounting method determines how a company recognizes...
Jul 15, 2025 | Tax Talk Tuesdays
A Section 1031 exchange—named for the corresponding section of the Internal Revenue Code—remains a valuable tax-deferral tool for real estate investors in 2025. It allows for the deferral of capital gains taxes when an investment property is sold and the proceeds are...
Jul 8, 2025 | Tax Talk Tuesdays
The Advanced Manufacturing Production Credit (Section 45X), originally introduced by the Inflation Reduction Act of 2022, provides per-unit tax incentives to manufacturers producing and selling eligible clean energy components in the United States. With the recent...
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