How Construction Can Capitalize on Opportunity Zones

By Maureen McGetrick As 2019 approaches its final months, construction firms may start to see an uptick in interest for projects in opportunity zones. Enacted as part of 2017 Tax Reform, the opportunity zone program began attracting significant investor interest after the IRS released clarifying guidance about the program’s rules in October 2018 and again…

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R&E Credits to Offset Payroll Taxes

Did you know your company may be able to use research and experimentation (R&E) tax credits to offset payroll taxes? This article by McGuire Sponsel discusses how qualified small businesses with research tax credits have the ability to offset the employer portion of federal Social Security taxes up to $250,000 per year for up to five…

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5 Business Productivity Killers—and How to Slay Them

If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive in this environment, businesses need to optimize their finance and accounting practices, and that means tackling challenges…

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Top 10 Property Tax Myths

Are you missing an opportunity to reduce your property tax liability? Nearly all local taxing jurisdictions, including municipalities, counties, and boards of education, generate tax revenue through the imposition of property tax, which is one of the most substantial sources of local government revenue. For many businesses, property tax is the largest state and local…

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Earn Tax-Free Income from Working Abroad

U.S. citizens and resident aliens are taxed on their worldwide income, whether they live inside or outside of the U.S. However, qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for…

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Security Summit warns of new IRS impersonation email scam; reminds taxpayers the IRS does not send unsolicited emails

IR-2019-145   WASHINGTON — The Internal Revenue Service and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email. Remember: the IRS does not send unsolicited emails and never emails taxpayers about the status of refunds. The IRS this week detected this new scam…

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The IRS Has Cryptocurrency on Its Radar

If you own cryptocurrency, you need to know that the IRS has owners of cryptocurrency in its sights because many cryptocurrency owners are not reporting or paying taxes on their cryptocurrency transactions. In fact, the IRS is so focused on this issue that it recently issued warning letters to over 10,000 taxpayers it suspects might…

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